Pension Payments. a. In the event contributions by the members of the Fire Department to the present pension system are increased beyond the six (6%) percent contribution during the term hereof, the City of Warwick agrees to pay the difference between said six (6%) percent and the increased percentage, provided the Pension Fund benefits have not been increased over those presently in force on the date of this Agreement. Upon the plan being qualified by Internal Revenue Service and due to benefit improve- ments granted on July 1, 1989, the employee contribution will be increased from the aforementioned 6% to 7%. The seven (7%) percent contribution rate will be the sole responsibility of the employee. Effective on July 1, 2005, the contribution shall be increased to eight (8%) percent, and shall be reduced to 7% on September 19, 2005. b. The City agrees to amend the pension plan under City code, Article IV as of the date of this agreement as set forth in Section 7-76 (a) and (b) of the said article as it is written as of the date of this agreement and which is incorporated herein and made a part of hereof.
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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
