Town of Farmington, CT Payments to Plan

Employee contributions for all employees except fire employees.

During the period from October 1, 1956, through June 30, 1962, each employee shall contribute to the plan 3% of his salary or earnings.

(2)

During the period from June 1, 1962, through June 30, 1977, each employee shall contribute to the plan 4 1/2% of his salary or earnings.

(3)

During the period from July 1, 1977, through June 30, 1990, each employee shall contribute to the plan 5% of his salary or earnings.

(4)

During the period from July 1, 1990, through June 30, 1993, each employee shall contribute to the plan 5 1/2% of his salary or earnings.

(5)

During the period from July 1, 1993, through June 30, 1995, each employee shall contribute to the plan 5 3/4% of his salary or earnings.

(6)

Commencing July 1, 1995, and continuing thereafter, each employee shall contribute to the plan 6% of his salary or earnings.

Employee contributions for fire employees.

(1)

Percent of contribution for certain periods.

(a)

During the period from July 1, 1977, through June 30, 1990, each fire employee shall contribute to the plan 5% of his salary or earnings.

(b)

During the period from July 1, 1990, through June 30, 1991, each fire employee shall contribute to the plan 6% of his salary or earnings.

(c)

During the period from July 1, 1991, through June 30, 1992, each fire employee shall contribute to the plan 7% of his salary or earnings.

(d)

During the period July 1, 1992 through June 30, 2000, each fire employee shall contribute to the plan 7 1/2% of his salary or earnings.

(e)

Commencing July 1, 2000, and continuing thereafter, each fire employee shall contribute to the plan 7 3/4% of his salary or earnings.

(f)

Fire employees hired after July 15, 2012, and continuing thereafter, shall contribute to the plan 8% of their salary or earnings.

[Added 12-18-2012]

(2)

A fire employee's salary or earnings shall be the compensation paid by the Town to the fire employee as shown on the W-2 Form submitted to the Internal Revenue Service and shall be determined without regard to any reductions pursuant to Section 125, 414(h)(2) or 457 of the code. Such contributions shall be deducted from each fire employee's pay by the Town and shall be paid immediately by it to the plan.

(3)

A fire employee's obligation to contribute to the plan shall cease after he has contributed for a period of 30 years or has accumulated 30 years of credited service.

Town assumption of employee contributions.

(1)

Pursuant to the provisions of Section 414(h)(2) of the Internal Revenue Code of 1986, as amended, the Town shall assume and pay the employee contributions required by Subsections A and B above which would otherwise be payable by employees who are employed by the Town in an administrative capacity in the general government portion of the budget and whose employment is not subject to the terms of a collective bargaining agreement with respect to salary or earnings on account of service on and after August 1, 1991. Commencing April 13, 2001, all employee contributions required by Subsection A above will be subject to the provisions of Section 414(h)(2) of the Internal Revenue Code of 1986. Employee contributions so paid by the Town shall be paid from the same source of funds used for the payment of compensation to employees, and a deduction shall be made from each employee's salary or earnings equal to the amount of the employee's contribution so paid by the Town.

(2)

Employee contributions paid by the Town shall be accounted for separately from employee contributions not so paid but shall, nevertheless, be treated as employee contributions for purposes of Article XVII, § 51-48, hereof. In no case shall an employee for whom contributions are paid by the Town pursuant to this Subsection C have the option of receiving such amounts in salary or earnings from the Town.