Common use of Pension Contribution Clause in Contracts

Pension Contribution. In addition to fulfilling its statutory obligation to the 1977 Police and Fire Fighter Pension and Disability fund, the City will contribute an additional 1.5% of the pension base on behalf of firefighters' contribution to the 1977 Fund, resulting in a reduction to the firefighters' contribution in the amount equal to 1.5% of the pension base. To further clarify, of the 6% of the pension base owed by firefighters to the 1977 Fund, the City will pay 1.5% and the employees will pay 4.5%.

Pension Contribution. ‌ In addition to fulfilling its statutory obligation to the 1977 Police and Fire Fighter Pension and Disability fund, the City will contribute an additional 1.5% of the pension base on behalf of firefighters' contribution to the 1977 Fund, resulting in a reduction to the firefighters' contribution in the amount equal to 1.5% of the pension base. To further clarify, of the 6% of the pension base owed by firefighters to the 1977 Fund, the City will pay 1.5% and the employees will pay 4.5%.