Contributions.

San José Municipal Code § 3.32.300

in effect

3.32.300 - Contributions. A. For the purpose of establishing and maintaining the retirement fund on a reserve basis, the city council shall make provision in the budget each fiscal year, beginning with the fiscal year December 1, 1946 to November 30, 1947, for the payment by the director of finance monthly into said fund of an amount equal to eight percent of the monthly payroll of all such members of the police department and fire department as the city's contribution, and the director of finance shall deduct three percent of the monthly pay from the salary of each member of the plan from and after the first day of October, 1946, as the contribution of the individual members thereof. Within six months after the effective date of Ordinance 3254, adopted October 21, 1946, and at least every five years thereafter, the board of administration shall cause to be made an actuarial investigation into the mortality, service and compensation experiences of the members and beneficiaries, and shall further cause an actuarial valuation of the assets and liabilities of the retirement plan, and upon the basis of such investigation and valuation shall: 1. Adopt for the retirement plan such mortality, annuity, service and other tables as may be deemed necessary; 2. In order to make said retirement plan actuarially sound in a manner consistent with Article XVI, Section 17 of the California Constitution (the "1992 California Pension Protection Act"), revise or change the rates of contributions by members on the basis of such actuarial investigation and such mortality, annuity, service and other tables, but at all times maintaining the eight percent and three percent ratio of contributions on behalf of the city and the members of the plan as set forth in this section. B. Every member of the police department or fire department shall be deemed to consent and agree to the deductions from salary or compensation as provided herein, and payments less such deductions shall be a full and complete discharge and acquittance of all claims and demands whatsoever for all services rendered by such employees during the period covered by such payment except the right to the benefits to which they shall be entitled under the provisions hereof. C. The said deductions from salary or compensation shall continue until membership ceases or until the member retires on a retirement allowance. (Prior code § 2903.28; Ords. 25084, 29198, 29266, 29879.)

Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.32POFIDEREPL_3.32.300COFetched: 11/1/2026