Pension Pickup. 32.01 As permitted by the Internal Revenue Service and Public Employees Retirement System, the Employer agrees to continue to implement the "salary reduction" method for pension "pick-up".
Pension Pickup. Wages shall be paid bi-weekly, via direct deposit, every other Friday. When a holiday falls on a Friday, employees shall be paid on the preceding Thursday. When a pair of holidays falls on both a Thursday and Friday, employees shall be paid on the preceding Wednesday. Such wage compensation shall include payments previously termed “longevity” and shall include payments for pension pickup as currently pay rolled for all bargaining unit members.
Pension Pickup. In accordance with applicable IRS provisions, the City shall pick up the pension fund contributions required of each employee under the provisions of 40 ILCS 5/3-125.1. The intent of this provision is to defer the employee’s pension contribution from being taxed at the time of the contribution, subject to and in accordance with applicable IRS provisions. This provision does not decrease the employee’s obligations to make required pension contributions, nor does it increase the City’s obligations to make pension contributions other than as a conduit for employees’ contributions. The City makes no guarantee concerning the tax effect of the terms of this section upon employees.
Pension Pickup. Notwithstanding the foregoing provisions on member's compensation, and unless otherwise specified in this agreement, the parties agree that:
Pension Pickup. 35.01 The Employer shall designate the Employee’s contribution of gross wages paid each year by individual bargaining unit members to the Public Employees Retirement System of the State of Ohio or Employer-paid for the purpose of deferred state and federal income taxes under the Pension pickup plan commonly referred to as “Salary Reduction Plan,” each bargaining unit member will continue to pay the required amount of Employee’s contribution of gross salary to PERS. The Employer will continue to pay its required share as defined by the statutory laws of the State of Ohio.
Pension Pickup. Any employee of the police department of the City of North Canton who is a member of the Ohio Police and Fire Pension Fund or the Public Employees Retirement System of Ohio shall have his compensation reduced by an amount equivalent to that employee’s contribution to the Ohio Police and Fire Pension Fund or the Public Employees Retirement System of Ohio, as the case may be, and that the amount of the employee’s contribution to the Ohio Police and Fire Pension Fund or the Public Employees Retirement System of Ohio, as the case may be, be paid by the City of North Canton on behalf of the employee, and that the amount of the contribution so paid on behalf of the employee by the Employer be added to the salary or wage of the employee in the calculation of pensions and other benefits and is subject to the City of North Canton income tax. In respect to the employee’s contribution to the Public Employees Retirement System of Ohio, that contribution shall be the employee’s contribution to the employee’s savings fund defined at R.C. 145.47.
Pension Pickup. The City shall “pick-up” the police officer’s pension contributions out of the police officer’s salary as authorized by 40 ILCS Section 5/3-125.2 of the Illinois Pension Code.
Pension Pickup. The City shall provide a Pension Pickup program by the salary reduction method, deducting the employee contribution from the gross salary each year.
Pension Pickup. For the purpose of definition, this section covers members in the permanent or acting positions of Captain, Lieutenant, and 1st Grade Fire Fighter. This is available only to those members holding rank, status, or assignment of 1st Grade Fire Fighter or above, as defined earlier. This shall be referred to as a “pension pick-up.” During the 2013 calendar year, the City agrees to pay 4.7% of the member's personal contribution to the Ohio Police and Fire Pension Fund (in addition to the City's required contribution, as specified by state law), for all gross earnings during the term of this Agreement. An eligible member will contribute the remainder of the member’s personal contribution. Effective January 1, 2014, the City agrees to pay 5.45% of the member's personal contribution to the Ohio Police and Fire Pension Fund (in addition to the City's required contribution, as specified by state law), for all gross earnings during the term of this Agreement. An eligible member will contribute the remainder (5.3%) of the member’s 10.75% personal contribution. Effective July 1, 2014, the City agrees to pay 6.2% of the member's personal contribution to the Ohio Police and Fire Pension Fund (in addition to the City's required contribution, as specified by state law), for all gross earnings during the term of this Agreement. An eligible member will contribute the remainder (5.3%) of the member’s 11.5% personal contribution. Effective January 1, 2015, the City agrees to pay 6.95% of the member's personal contribution to the Ohio Police and Fire Pension Fund (in addition to the City's required contribution, as specified by state law), for all gross earnings during the term of this Agreement. An eligible member will contribute the remainder (4.55%) of the member’s 11.5% personal contribution. Effective July 1, 2015, the City agrees to pay 7.7% of the member's personal contribution to the Ohio Police and Fire Pension Fund (in addition to the City's required contribution, as specified by state law), for all gross earnings during the term of this Agreement. An eligible member will contribute the remainder (4.55%) of the member’s 12.25% personal contribution.
Pension Pickup. Section 17.1.
