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City defined contribution plan contribution.

Memphis Code of Ordinances § 4-34-22
in effect
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Sec. 4-34-22. - City defined contribution plan contribution. A. No later than the end of each month, the comptroller shall determine the aggregate amount of the compensation of each 2016 plan participant employed as of the end of such plan year who is not a police officer or a firefighter on which the employee defined contribution plan contributions for such month are calculated. The city shall pay into the trust fund as its defined contribution plan contribution one and one-half percent of such compensation. B. No later than the end of each month, the comptroller shall determine the aggregate amount of the compensation of each 2016 plan participant who is a police officer or a firefighter on which the employee defined contribution plan contributions for such month are calculated. The city shall pay into the trust fund as its defined contribution plan contribution one and one-half percent of such compensation. C. The payments of the city into the trust fund under this section are made obligations of the city. The council shall appropriate annually such amounts as are necessary to make such payments. (Ord. No. 5573, § III, 12-16-2014)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/code_of_ordinances?nodeId=TIT4PERESY_CH4-342016CABAPLDECOPL_ART4DECOCO_S4-34-22CIDECOPLCOFetched: 10/28/2026

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4-34-22 | Corpus