§ 114-203. Member contributions.

A.

Each active member shall contribute to the system member contributions in an amount equal four percent of his contribution compensation; beginning January 1, 2012, and ending December 31, 2012, such contributions shall equal five percent of contribution compensation; beginning January 1, 2013, and thereafter, such contributions shall equal six percent of contribution compensation.

B.

Each active member's employer shall automatically deduct such contributions from his contribution compensation on a pay period basis, and each such member shall be deemed to have consented to such deduction, without the necessity of further action. Payment of any amount, allowance, withdrawal or other benefit hereunder shall be deemed to constitute a discharge and release of any claim or demand related to such deduction.

C.

Each employer shall remit member contributions to the system at the time or times designated by the trustees, but no less frequently than monthly.

D.

Member contributions hereunder are intended to be "pick-up contributions" and shall be made and administered in the manner prescribed under Tax Code Section 414(h)(2).

E.

Member contributions hereunder shall be deemed part of a member's compensation for purposes of determining whether such compensation is less than the minimum amount required by law to be provided. Payment of a member's compensation due for any period, reduced as provided herein, shall be deemed to discharge and acquit the city and his employer with respect to services rendered by such member during such period, except as to any prospective claim for benefits or payments hereunder.

F.

The trustees shall adopt such procedures as may be necessary for the collection and remission of member contributions hereunder.

(M.C.S., Ord. No. 26460, § 2, 6-18-15)