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CITY OF NORTH OLMSTED <br />RESOLUTI.ON NO. 2013 - 62 <br />By: Mayor Kennedy <br />A RESOLUTION OF THE COUNCIL OF THE CITY OF <br />NORTH OLMSTED DETERMINING TO CONTINUE TO <br />TAX DEFER THE MANDATORY CONTRIBUTIONS BY <br />EMPLOYEES OF THE POLICE AND FIRE DIVISIONS <br />WHO ARE MEMBERS OF THE OHIO POLICE & FIRE <br />PENSION FUND THROUGH PAYROLL DEDUCTION. <br />WHEREAS, eligible employees of North Olmsted Division of Police and Fire participate in <br />the Ohio Police & Fire Pension Fund (hereinafter "Fund" or "Pension"); and <br />WHEREAS, employees participating in the Fund do so by and through a tax deferred payroll <br />deduction; and <br />WHEREAS, the tax deferred pay-roll deduction equates to the amount determined by the <br />Ohio Police and Fire Pension Board (hereinafter "Pension Board") to be the participating employee's <br />mandatory contribution to the Pension Fund; and <br />? WHEREAS, the required employee mandatory contribution amount from time to time is <br />adjusted by the Pension Board; and <br />WHEREAS, the Pension Board has determined the following as the employee mandatory <br />contribution amounts: <br />July 6, 2013-July 4, 2014 10.75% <br />July 5, 2014-July 3, 2015 11.50% <br />July 4, 2015-and thereafter 12.25% <br />WHEREAS, the City of North Olmsted Council wishes to reaffirm, amend and/or restate its <br />prior resolution in order to continue operating under revised guidelines and procedures; and <br />WHEREAS, this Resolution is required by the Board to meet our obligations as a municipal <br />employer with employees enrolled in the Pension. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL UF THE CITY OF <br />NORTH OLMSTED, COUNTY OF CUI'AHUGA AND STATE OF OHIO: <br />SECTION 1: That the Council of the City of North Olmsted has determined to <br />continue to tax defer all of the mandatory contributions by the employees who are members of <br />the Ohio Police and Fire Pension Fund through a payroll reduction; and <br />