§ 32-30. Contributions by employee and employer.

(a)

Contributions necessary to provide the benefits under the pension plan shall be made by the employer, and no employee as defined in section 32-22, except those non-union employees hired subsequent to January 1, 2011, shall be required to make any contributions. Those non-union employees hired subsequent to January 1, 2011 shall contribute five (5) percent of their base annual salary as defined for purposes of the pension plan, or such greater percentage as may be required in the future by the employer. Contributions shall be made to the trustee from time to time in amounts sufficient to assure the successful operation of the pension plan on a sound actuarial basis as determined by periodic actuarial computations.

(b)

The employer shall pay the expenses of administering the pension plan, including any compensation of the trustee and the compensation of the actuaries.

(Code 1961, § 14-8; Ord. No. 19-1963, 12-5-1963; Ord. No. 704, 12-7-2010; Ord. No. 31, § 14-8, 12-6-2016)