10-11-78: Municipal police member coverage plan 4; member contribution rate.

A member under municipal police member coverage plan 4 shall contribute twelve and thirty-five hundredths percent of salary starting with the first full pay period in the calendar month in which municipal police member coverage plan 4 becomes applicable to the member, except that a member whose annual salary is greater than twenty-five thousand dollars ($25,000) shall contribute:

A. prior to July 1, 2022, thirteen and eighty-five hundredths percent of salary;

B. beginning July 1, 2022 and continuing through June 30, 2023, fourteen and thirty-five hundredths percent of salary;

C. beginning July 1, 2023 and continuing through June 30, 2024, fourteen and eighty-five hundredths percent of salary;

D. beginning July 1, 2024 and continuing through June 30, 2025, fifteen and thirty-five hundredths percent of salary; and

E. beginning July 1, 2025 and thereafter, fifteen and eighty-five hundredths percent of salary.