A. The amount of contribution to the fund shall be determined by actuarial evaluation, one-half of such amount to be paid by the members of the fire and police pension systems of the City to whom the cost of living benefit is applicable and one-half of such amount by the City. The contribution to be paid by each individual member shall be made by deductions from each payroll, commencing with the payroll for the period January 1, 1971--January 15, 1971; the contributions of the City will be made annually, the first of such annual contributions by the City to be made for the 1970-71 fiscal year.

B. Actuarial valuations of the cost of the benefits hereunder shall periodically be made; the first such valuation shall be made on or before January 1, 1971, and such valuations shall be thereafter made whenever ordered by the Fire and Police Pension Boards of the City, but in any event at least once every five years. After each actuarial valuation said boards shall redetermine and reestablish the rates of contribution for the members and the City, based upon such actuarial valuation which has been approved and adopted by the boards.

C. The requirements for payment of contributions by members on leave and for repayment of withdrawn contributions by persons reentering the service shall be as set forth in Sections 4.28.300 and 4.28.320, respectively, of Chapter 4.28.

D. In the event of withdrawal from and reentry to the pension system, the requirement for payment of contributions during such period of withdrawal shall be as set forth in Section 4.28.310 of this code. (Ord. 4490-NS § 3, 1970)