Pension Pick-up. The full amount of the statutorily required member contribution to the Ohio Police and Fire Pension Fund (“Fund”) shall be withheld from the gross pay of members and shall be "picked-up" by the Employer and shall be in lieu of contributions to the Fund by each member. No member subject to this "pick-up" shall have the option of choosing to receive the statutorily required member contribution to the Fund instead of having it "picked-up" by the Employer or of being excluded from the "pick-up". The parties agree that the Employer will not incur any additional costs in the deferment of said federal and state income taxes. Should the Rules and Regulations of the Internal Revenue Service or the Fund change, making this procedure unworkable, the parties agree to return to the former contribution method followed by the Employer.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
