- There is granted to municipalities in this state having less than fifty thousand population the power to pay from the general funds of their respective municipalities into the old hire police officers’ pension fund of their respective municipalities such sum monthly as shall not exceed five percent of the monthly salaries of the total active old hire members in the police department of their respective municipalities.
- In such municipalities as make contributions from general funds into the old hire police officers’ pension fund of their respective municipalities pursuant to subsection (1) of this section, the active old hire members of such police department shall contribute monthly, from their respective monthly salaries, into the municipality’s old hire police officers’ pension fund identical percentages of their respective monthly salaries so that the contribution of the active old hire members of the police department as a whole matches the contribution of the municipality.
Source: L. 96: Entire article added with relocations, p. 876, § 1, effective May 23.
Editor’s note: Provisions of this section were formerly numbered as §§ 31-30-319 and 31-30-320.