(a) By the City. The city shall, at the end of each payroll period, make contributions to each participant's account in the executive money purchase plan equal to the amount of contributions the participant makes to this plan for that payroll period according to this chapter.

(b) By participants. Participants, including participants on paid leave of absence, shall contribute to the plan seven percent of earnings. For this purpose "earnings" shall be defined as total base pay, including acting pay, paid to a participant including longevity pay and compensation under sections 414(H) and 457 of the Internal Revenue Code. "Earnings" shall not include a participant's overtime pay, bonus pay, or single-sum payments received in lieu of accrued vacation and sick leave upon termination of employment or during the course of employment, and similar nonregular remuneration. Pursuant to Internal Revenue Code Section 414(H), this contribution shall be deferred from taxation until such time as it is paid out from the plan. The above notwithstanding, no contribution will be required to be made to the plan by a disabled participant during a period that the participant receives long-term disability insurance benefits from the City. Commencing with the first pay date in July 2001, the mandatory contribution rate is ten percent. (Ord. No. 2001-12, § 8, 3-19-2001; Ord. No. 2000-42, § 2, 6-5-2000; Ord. No. 2000-10, § 8, 3-6-2000; Ord. No. 99-94, § 1, 1-3-2000; Ord. No. 96-44, § 4, 10-7-1996)