86.1000. Contributions to pension fund by city--board to certify to board of police commissioners amount required.
Contributions to pension fund by city--board to certify toboard of police commissioners amount required.
86.1000. 1. The city shall contribute to the pension fundquarter-annually or at such lesser intervals as may be agreed upon by the cityand the retirement board. Such contribution shall be in addition to andseparate from the appropriations made by the city for the operation of thepolice department. For each fiscal year of the operation of the pensionsystem, the city's contribution to the pension fund shall be a percentage ofthe compensation paid to members of the pension system from which a member'sdeduction has been made under section 86.1010. The city's contribution shallbe such percentage as shall be agreed upon by the board of policecommissioners and the city, but in no event shall such contribution be lessthan twelve percent.
2. On or before the tenth day of January of each year the retirementboard shall certify to the board of police commissioners the amount of moneythat will likely be required to comply with the provisions of this sectionduring the next succeeding fiscal year including administration expenses. Theamounts so certified shall be included by the board of police commissioners intheir annual budget estimate, and shall be appropriated by the cities andtransferred to the pension fund during the ensuing fiscal year.
(L. 2005 H.B. 323)