Metro Government of Nashville and Davidson County |
Code of Ordinances |
THE CHARTER |
Part II. Related Private Laws |
Article V. Employee Pensions and/or Retirement, Insurance Compensation and Benefits |
§ 2.09. Contributions rates of members of Division A.
Each employee who is a member of Division A shall contribute to the fund in accordance with the contribution rate or rates per calendar year which shall be (a) and (b), as follows:
(a)
The contribution rate shall be three percent (3%) of base earnings;
(b)
The contribution rate shall be six percent (6%) of excess earnings.
The amount of contribution payable in any payroll period by each member of Division A shall be computed, consistent with the provisions of this section to the extent administratively feasible, in such manner as determined by the pension commission, and shall be made by payroll deductions in accordance with the provisions of Section 1.07 of this Act.