City's contributions.

(a) The city shall pick up employer payment of required participants' contributions in lieu of salary or wages through a program and plan amendments relating to the city's employees meeting the requirements of the United States Internal Revenue Code, as amended.

(b)(1) Beginning July 1, 1995, the contribution of the employer, excluding the board of health and employees of the board of health, shall be determined by the actuary of the board at the level necessary to fully fund the system. The actuary shall be required to make the determination for each actuarial year.

(2) Beginning on July 1, 2017, the employer's total minimum rate of contribution into the fund, excluding the board of health, shall increase to 7.25 percent.

(3) Beginning on July 1, 2018, the employer's total minimum rate of contribution into the fund, excluding the board of health, shall increase to 8.50 percent.

(4) Beginning on July 1, 2020, the employer's total minimum rate of contribution into the fund, excluding the board of health, shall increase to nine percent.

(5) Notwithstanding anything to the contrary in this subsection, the employer may increase its total rate of contribution above the minimum amounts previously listed in this subsection.

(c) At the same time the deductions attributable to participants' contributions are paid into the fund, the city shall pay into the fund the amount of contributions the city is required to pay pursuant to this section.

(Act 2006-339, p. 851, Art. V, §3; Act 2017-251, §1.)