(a) Created. The retirement fund, as created and established under C.R.S. tit. 31, art. 30, pt. 10(C.R.S. § 31-30-601 et seq.) or C.R.S. tit. 31, art. 30, pt. 10(C.R.S. § 31-30-1001 et seq.), shall be the fund in which shall be accumulated the contributions deducted from the compensation of members, contributions made by the City, and any and all funds or resources as made and provided by statute.

(b) Member contributions; withholding. Commencing May 4, 1991, a member's contributions shall be ten percent of salary. The employee responsible for making up payroll shall cause the contributions provided for in this subsection to be deducted from the salary for each member on each payroll, for each payroll period during the member's employment as a police officer, and continuing so long as the member remains an active service member. The employer shall pay these employee contributions directly to the retirement association, instead of paying such amounts to employees, and such contributions shall be paid from the same funds which are used in paying salaries to the employees. Such contributions, although designated as employee contributions, shall be paid by the employer in lieu of contributions by employees in accordance with code section 414(h). Employees may not elect to choose to receive such contributions directly instead of having them paid by the employer to the pension plan. Employee contributions so picked up shall be treated for all purposes of this article, other than federal tax, in the same manner as employee contributions made before the date picked up. Payment shall be made by one voucher for the aggregate amount deducted and shall be made no later than the tenth day after the end of each pay period. All such payments shall be credited to the fund. Full actuarial funding has been achieved as of January 1, 2000, as officially confirmed by the actuarial study performed by the Colorado Fire and Police Pension Association on behalf of the board. Pursuant to relevant state and city statutes and ordinances, the employee contribution is therefore terminated as of January 1, 2000. Employee contributions collected during 2000 shall be refunded.

(c) City contribution. Effective with the 1991 contribution and pursuant to state and pension law, the city shall contribute to the retirement fund no less than the annual amount required by the retirement association to fund the plan using the maximum time period and actuarial methodology provided for by state law. No deficiency in city contributions, including the rank escalation fund, made prior to 1991 exists as of 1991. Full actuarial funding has been achieved as of January 1, 2000, as officially confirmed by the Colorado Fire and Police Pension Association. Pursuant to relevant state and city statutes and ordinances, the city contribution is therefore suspended as of January 1, 2000.

(d) Fines for misconduct of old hire. All moneys withheld from the "old-hire" members of the police department as a result of a suspension, other than a suspension pending disposition of criminal proceedings, for any breach of discipline, misconduct, or violation of the rules and regulations for the department shall be paid into the fund and debited from the payroll of the department, for that purpose. All fines imposed upon "old-hire" members of the police department by way of discipline and collectible from pay or salary shall likewise be paid into the fund. Whenever an award/reward is presented to an officer of the department, which pursuant to departmental policies cannot be retained by such member, shall be tendered to the Aurora Police Association for the sole purpose of the maintenance and upkeep of the police memorial. All moneys governed by this section shall be considered as a component of the City's normal/required contribution to the fund and not as an additional contribution requirement.

(e) Implied consent; effect. Every member shall be deemed to consent and agree to the deductions made as provided for in this section.

(f) Contributions of new members with prior credited service in state. Any member joining the police department prior to January 1, 1980, who has received prior credited service with any other police department within the state for service prior to April 8, 1978 shall, as a condition precedent to becoming a police officer in the City, contribute to the police department retirement fund an amount of money equal to the total contribution the member would have paid into the fund had the member been a member of the police department during the member's years of prior credited service. The contribution shall be computed on the basis of the contribution paid by a patrol officer fourth grade together with interest at the rate of five percent per annum for that period of time that the member earned prior credited service with any other department.

(g) Continuation of DROP contributions. Notwithstanding the termination of the city and employee contributions to the pension plan as noted in (b) and (c) of this section, the employee contributions to the DROP accounts shall continue in accordance with the provisions of section 102-259 for members who enter DROP before the effective date [March 9, 2002] of this ordinance. For members who enter DROP on or after the effective date [March 9, 2002] of this ordinance, the following rules shall apply: