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(A) Effective since June 1, 1974, the city is a participating municipality in the state retirement system, as provided by law, for the purpose of including full-time police officers and full-time general employees in its employee retirement system.
(B) As a participating municipality, the retirement system benefits for city employees are in accordance with the state retirement system, as of the effective date of this section, and will be changed or updated as required.
(Prior Code, § 2.05.01) (Ord. 440, passed - -; Ord. 731, passed - -)
(A) The City Finance Officer is hereby directed to deduct 8% of the salaries paid to full-time police officers and jailers, and to deduct 6% of the salaries paid to full-time general employees, and forward the same to the retirement system.
(B) The deductions are to be made from each and every participating member’s salary on each and every payroll and for each and every payroll period subsequent to the city’s participation in the retirement system.
(Prior Code, § 2.05.03) (Ord. 440, passed - -; Ord. 731, passed - -; Ord. 860, passed - -)
(A) The City Finance Officer is hereby authorized to pay from city funds:
(1) Eight percent matching funds for full-time police officers and jailers; and
(2) Six percent matching funds for full-time general employees.
(B) These matching funds are to be forwarded to the retirement system, together with the payment of the employees’ contributions as provided in § 30.17.
(Prior Code, § 2.05.04) (Ord. 440, passed - -; Ord. 731, passed - -; Ord. 860, passed - -)