City of Tahlequah, OK Chapter 2-6 Retirement and Pensions

Article A Fire Pension System

§ 2-601 Board of Trustees of Fire Pension Fund Created.

[Prior Code, Sec. 1-99]

There is hereby created a board of trustees of the Fire Pension Fund of the City with membership, organization, powers, duties and functions as prescribed by applicable law.

§ 2-602 Fund to Be Operated in Accordance with Law.

[Prior Code, Sec. 1-100]

The Fire Pension Fund shall be operated in accordance with State law relating to the Fund, and pensions and other benefits shall be paid as provided by State law.

§ 2-603 Contributions by City, Firefighters.

[Prior Code, Sec. 1-101; Ord. No. 775, passed 6-3-1991]

A. The City Treasurer shall deduct each pay period from the salary or wages of each eligible member of the Fire Department 8% beginning July 1, 1991, which shall be paid monthly to the Oklahoma Firefighters Pension and Retirement System.

B. The Treasurer of the City shall contribute monthly from the General Fund 10.5% per eligible member beginning July 1, 1991. The contributions will increase by 1/2% each year at July 1 until July 1, 1996, at which time the Municipal contribution will equal 13% of the actual paid base salary of each member of the system employed by the Municipality.

C. The Treasurer of the City shall contribute annually to the State Firefighters Pension and Retirement System for each eligible volunteer firefighter member $60.

D. All assets of the City Firefighters Pension and Retirement Fund shall be transferred to the Oklahoma Firefighters Pension and Retirement Board. Assets shall be transferred in the form of cash, negotiable securities and such other specific assets as permitted by the State Board.

Article B Police Pension and Retirement System

§ 2-610 Retirement System Created.

[Prior Code, Sec. 1-109]

There is hereby authorized and created a "Police Pension and Retirement System" of the City for the purpose of pensioning meritorious and disabled police officers.

§ 2-611 Board of Trustees Created.

[1982 Code]

There is hereby created the board of trustees of the Police Pension and Retirement System which board shall be and is hereby vested with full power and authority to administer to and provide for the distribution of all sums of money coming into and constituting the funds of the Police Pension and Retirement System; and such other authority, powers and duties as are provided for by State law.

§ 2-612 Contributions by City and Officers.

[Ord. 776, 6-3-1991]

A. The City Treasurer shall deduct each pay period from the salary or wages of each eligible member of the Police Department 8% beginning July 1, 1991, which shall be paid monthly to the Oklahoma Police Pension and Retirement System.

B. The Treasurer of the City shall contribute monthly from the General Fund 10.5% per eligible member beginning July 1, 1991. The contributions will increase by 1/2% each year at July 1 until July 1, 1996, at which time the Municipal contribution will equal 13% of the actual paid base salary of each member of the system employed by the Municipality.