(a)
The
fire department held a meeting on September 25, 1941, and by a vote
of the department decided to participate in the firefighter’s
relief and retirement fund.
(b)
Also,
by a vote of the department, it was decided to pay into the firefighter’s
relief and retirement fund, until otherwise provided, sixteen and
eight-tenths percent (16.8%) of the salary of any paid or part-time
firefighter.
(1990 Code, sec. 7.901; Ordinance 07-126, sec. 3, adopted 10/23/07; Ordinance 14-034, sec. 3, adopted 5/13/14; Ordinance 15-016, sec. 3, adopted 5/26/15; Ordinance 16-043 adopted 9/27/16)
Firefighters are permitted to defer federal income taxes under
the terms of section 10F(a) and section 10F(b) of the state Firemen’s
Relief and Retirement Law subject to a favorable determination by
the Internal Revenue Service that the firefighter’s pension
plan is a qualified retirement plan.
(1990 Code, sec. 7.902)
