b'City of Dover Tuscarawas County, Ohio Notes to the Basic Financial Statements For the Year Ended December 31, 2019 For members hired after July 1, 2013, the minimum retirement age is 52 for normal service retirement with at least 25 years of service credit.For members hired on or before after July 1, 2013, the minimum retirement age is 48 for normal service retirement with at least 25 years of service credit.The annual pension benefit for normal service retirement is equal to a percentage of the allowable average annual salary.The percentage equals 2.5 percent for each of the first 20 years of service credit, 2.0 percent for each of the next 5 years of service credit and 1.5 percent for each year of service credit in excess of 25 years. The maximum pension of 72 percent of the allowable average annual salary is paid after 33 years of servicecredit(seeOP&Fsannualfinancialreportreferencedpreviouslyforadditionalinformation, including requirements for Deferred Retirement Option Plan (DROP) provisions and reduced and unreduced benefits).Under normal service retirement, retired members who are at least 55 years old and have been receiving OP&F benefits for at least one year may be eligible for a COLA. The age 55 provision for receiving a COLA does not apply to those who are receiving a permanent and total disability benefit, surviving beneficiaries, and statutory survivors.Members participating in the DROP program have separate eligibility requirements related to COLA. Members retiring under normal service retirement, with less than 15 years of service credit on July 1, 2013, will receive a COLA equal to either 3 percent or the percent increase, if any, in the Consumer Price Index over the 13 month period ending on September 30th of the immediately preceding year, whichever is less.The COLA amount for members with at least 15 years of service credit as of July 1, 2013, is equal to 3 percent of their base pension or disability benefit.Funding PolicyThe ORC provides statutory authority for member and employer contributions as follows:Police Firefighters2019 Statutory Maximum Contribution RatesEmployer 19.50 % 24.00 %Employee 12.25 % 12.25 %2019 Actual Contribution RatesEmployer:Pension 19.00 % 23.50 %Post-employment Health Care Benefits 0.50 0.50Total Employer 19.50 % 24.00 %Employee 12.25 % 12.25 % Employercontributionratesareexpressedasapercentageofcoveredpayroll.TheCityscontractually requiredcontributiontoOP&Fwas$717,534for2019.Ofthisamount,$97,922isreportedasan intergovernmental payable. In addition to current contributions, the City pays installments on a specific liability the City incurred when theStateofOhioestablishedthestatewidepensionsystemforpoliceandfirefightersin1967.Asof December 31, 2019, the specific liability of the City was $203,223 payable in semi-annual payments through the year 2035.- 60 60 -'