All Participants shall make regular contributions at the rate of five (5) percent
of earnings, which shall be deposited in the Fund each pay period. The City of Hialeah
Gardens shall assume and pay Participant contributions in lieu of payroll deductions
from Participants' earnings. No Participant shall have the option of choosing to receive
the contributed amounts directly instead of having them paid by the City directly
to the Plan. All such contributions by the City shall be deemed and considered as
a part of the Participant's Accumulated Contributions and subject to all provisions
of this Plan pertaining to Accumulated Contributions of Members. This City "pick up"
of contributions is the result of a five (5) percent reduction of each Participant's
base pay and of base pay levels which occurred on October 1, 1990 and is intended
to comply with Section 414(h)(2) of the Internal Revenue Code.
If a Participant has not made contributions for any period of covered service, the
Participant must pay retroactive contributions for that period in order to receive
vesting credit for that period. Such retroactive contributions shall be made over
a period of time equal to the period of time for which contributions were not made
unless the Participant selects a shorter period. All retroactive contributions due
must be paid in full prior to retirement.
