Pension Pick-up. Section 1 – Pension Pick-Up – The City agrees to “pick-up” the statutorily required contribution to the applicable pension fund by the salary reduction method that the individual employee has been paying pursuant to present Federal and Ohio laws. Allowing employees to contribute in this manner will result in a deferral of federal and state income taxes on a portion of their wages and a reduction in taxable income.
Appears in 4 contracts
Samples: Letter of Agreement, Letter of Agreement, Letter of Agreement
