Explanation
This ordinance is necessary for the City of Columbus to comply with Ohio Public Employees Retirement System (OPERS) requirements regarding Recognition of Pick-Up of Employee Contributions, to aid in the proper recognition of employer "pick-up" (or pre-tax) contributions.
Title
To comply with OPERS requirements regarding Recognition of Pick-up of Contributions, for employees covered by the Management Compensation Plan, and to declare an emergency.
Body
WHEREAS, the employees covered by the Management Compensation Plan are contributing members of OPERS; and
WHEREAS, the City of Columbus has previously adopted a pick-up plan for employees covered by the Management Compensation Plan and who are contributing members of OPERS; and
WHEREAS, OPERS has requirements for reporting changes to pick-up contribution plans; and
WHEREAS, the City of Columbus wishes to change its prior ordinance in order to continue the pick-up under the OPERS requirements; and
WHEREAS, passage of this ordinance reaffirms Columbus City Council acceptance of the pick-up changes as identified in Section 4 of the Management Compensation Plan Ordinance 2713-2013,
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to comply with OPERS requirements regarding Recognition of Pick-up of Contributions, to aid in the proper recognition of employer "pick-up" (or pre-tax) contributions thereby preserving the public health, peace, property, safety and welfare; now, therefore:
BE IT ORDAINED BY THE OF THE CITY OF COLUMBUS:
SECTION 1. That effective March 16, 2014, 5.0% of the statutorily required employee contributions to OPERS shall be picked-up and paid as a fringe benefit by the City of Columbus for each person within the classes identified in Section 2 herein. That effective March 15, 2015, 4.0% of the statutorily required employee contributions to OPERS shall be picked-up and paid as a fringe benefit by the City of Columb...
Click here for full text