A member under municipal police member coverage plan 3 shall contribute seven percent of salary with the first full pay period in the calendar month in which municipal police member coverage plan 3 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, eight and one-half percent of salary;
B. beginning July 1, 2022 and continuing through June 30, 2023, nine percent of salary;
C. beginning July 1, 2023 and continuing through June 30, 2024, nine and one-half percent of salary;
D. beginning July 1, 2024 and continuing through June 30, 2025, ten percent of salary; and
E. beginning July 1, 2025 and thereafter, ten and one-half percent of salary.
History: Laws 1987, ch. 253, § 72; 2013, ch. 225, § 57; 2020, ch. 11, § 35.
ANNOTATIONSThe 2020 amendment, effective July 1, 2020, increased member contribution rates by .5 percent each year for four years for members whose annual salary is greater than twenty-five thousand dollars, and increased the salary amount applicable to the increased member contribution rate; in the introductory clause, after "greater than", deleted "twenty thousand dollars ($20,000)" and added "twenty-five thousand dollars ($25,000)", and after "shall contribute", deleted "eight and one-half percent of salary"; and added Subsections A through E.
The 2013 amendment, effective July 1, 2013, increased the employee contribution rate for employees earning more than twenty thousand dollars in salary annually; deleted the entire section which provided for employee contributions at a rate of seven percent of salary; and added the current language.
Severability. — Laws 2013, ch. 225, § 93 provided that if any part or application of Laws 2013, ch. 225 is held invalid, the remainder or its application to other situations or persons shall not be affected.