The city council hereby ratifies, approves, and confirms all payments heretofore made by the city to the firemen’s relief and retirement fund of the city, and ratifies each and every act of the city in the prior participation in the firemen’s relief and retirement fund, and confirms all expenditures made by the city which have been paid to the firemen’s relief and retirement fund in the past.
(1996 Code, sec. 8.701)
The finance director shall cause a percentage, not to exceed 10%, of the monthly compensation of each member of the fire department who participates in the firemen’s relief and retirement fund (the “fund”) to be deducted from such compensation and paid over to the fund. The percentage to be deducted shall be set by official action of the city council.
The finance director shall pay over to the fund, by the last day of each month, an amount, set by official action of the city council, of the monthly compensation of each member of the fire department who participates in the fund for the preceding month. There is hereby appropriated from the general fund of the city an amount necessary to make this payment.
(Ordinance 17/036 adopted 12/5/17)
City firefighters may defer federal income taxes under the terms of sections 10E(a) and (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.
(1996 Code, sec. 8.704)