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 Pine Bluff
 Code of Ordinances
 Chapter 19. PERSONNEL
 Article II. NONUNIFORMED EMPLOYEES PENSION PLAN

  § 19-29. Contributions.  

Latest version.

  • (a)

    Member contributions. Each member is required to participate to the system as a condition of employment. The rate of contribution by a member through December 31, 1988 was six (6) percent of his compensation. After December 31, 1988, the rate of contribution by a member will be three (3) percent of his compensation. Effective April 1, 1997, member contributions will be treated as contributions paid by the city in lieu of contributions by the member and will be paid directly to the system. The city intends for this "pick-up" arrangement to meet the requirements of Code § 414(h)(2) or any successor provision.

    (b)

    Payroll deduction. Member contributions will be paid through payroll withholdings by the city from the member's compensation. The retirement board will adopt rules and regulations governing payroll withholding for member contributions. All amounts deducted for each pay period by the city will be paid as soon as practical into the retirement fund and credited by the retirement board to the individual accounts of the members. Every member is deemed by acceptance of his employment to have consented and agreed to his member contributions to the system. Each payroll payment, less the member's contribution, will be a full and complete discharge of all claims and demands by the member for the service rendered by the member during the time period covered by the payment, other than the claims to the benefits to which the member may be entitled under the system.

    (c)

    City contributions. At the end of each month, the city will pay into the retirement fund the balance of the contributions required to fund the benefits provided by the system. As of December 31, 1988, the city made monthly payments in satisfaction of its contributions to the system at the rate of ten and one-half (10.5) percent of the total compensation of each member. After December 31, 1988, the city will make monthly payments in satisfaction of its contributions to the system at the rate of seven (7) percent of the compensation of each member. These contributions of the city into the retirement fund are hereby made obligations of the city. The city council or applicable commissions of the city will appropriate annually amounts necessary to make these contributions.

(Ord. No. 5551, § 4, 7-19-93; Ord. No. 5958, § 2, 8-6-01; Ord. No. 6094, § 3, 6-7-04; Ord. No. 6229, §§ 5(a), 5(b), 11-5-07; Ord. No. 6253, § 4, 8-4-08)