Section 86.1000

Title VII CITIES, TOWNS AND VILLAGES

Chapter 86

Effective - 28 Aug 2005, 2 histories, see footnote   (history) 

  86.1000.  Contributions to pension fund by city — board to certify to board of police commissioners amount required. — 1. The city shall contribute to the pension fund quarter-annually or at such lesser intervals as may be agreed upon by the city and the retirement board. Such contribution shall be in addition to and separate from the appropriations made by the city for the operation of the police department. For each fiscal year of the operation of the pension system, the city's contribution to the pension fund shall be a percentage of the compensation paid to members of the pension system from which a member's deduction has been made under section 86.1010. The city's contribution shall be such percentage as shall be agreed upon by the board of police commissioners and the city, but in no event shall such contribution be less than twelve percent.

  2. On or before the tenth day of January of each year the retirement board shall certify to the board of police commissioners the amount of money that will likely be required to comply with the provisions of this section during the next succeeding fiscal year including administration expenses. The amounts so certified shall be included by the board of police commissioners in their annual budget estimate, and shall be appropriated by the cities and transferred to the pension fund during the ensuing fiscal year.

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(L. 2005 H.B. 323)