A) The City will continue to participate in the Public Employees Retirement System of Ohio as provided in the Ohio Revised Code.
B) As long as the City participates in a pension "pick-up" plan in accordance with Internal Revenue Service Regulation(s) and Ohio Attorney General Opinion(s) as permitted by law State and Federal Income Taxes on employee pension(s) contribution(s) by all bargaining unit members, may be deferred.
C) Effective with the first full pay period of July 2012, the City will pay five percent (5.0%) of the employee's pension contribution and the employee shall be responsible for the remaining percentage (employee contribution increased from 1.5% to 5.0%). In July of 2012, Local 2058 Communication Operator Supervisor employees receiving a reduction in pension pickup will receive a separate one time lump sum check in the amount of one thousand two hundred fifty dollars ($1,250). Local 2058 Communication Operator Supervisor employees unaffected by the pension pickup reduction are not eligible to receive the lump sum payment.
D) Effective with the first full pay period of March 2013, the City will pay two percent (2.0%) of the employee's pension contribution and the employee shall be responsible for the remaining percentage (employee contribution increased from 5.0% to 8.0%).
E) Effective with the first full pay period of March 2014, the City will pay zero percent (0%) of the employee's pension contribution and the employee shall be responsible for the remaining percentage (employee contribution increased from 8.0% to 10%).
F) In the event that the employee share of the pension payment increases due to a change in law or regulation during the term of this agreement the employee shall be responsible for paying the entire amount of the increased employee contribution.
G) Employees who are promoted into positions in this bargaining unit and who were hired or reinstated after January 1, 2009, shall be required to pay the entire employee share of their pension and, furthermore, shall not receive the lump sum payments contained in this section.
H) Except for the one time lump sum payment of one thousand two hundred fifty dollars ($1,250) to affected employees, employees that are eligible to have the City pick up a percentage of their employee share of pension are prohibited from receiving the payment specified in paragraphs C) through E) directly. The payments will be to employees' individual P.E.R.S. accounts.
I) Effective the first full pay period of March 2014, and pursuant to sub-section (e), the parties agree and understand that the city's pension pick-up referred to in this article will terminate, and the City will no longer implement or participate in any pension pick-up plan.