Section 772 - Contributions by members; municipal obligation; return of contributions(a) Members shall pay into the fund, monthly, an amount equal to not less than five per centum nor more than eight per centum of monthly compensation. Where positions covered by the fund are included in an agreement under the Federal Social Security Act, members shall pay into the fund, monthly, an amount determined as follows: (1) if the pension plan established under the provisions of this act provides for no offset under clause (2) of subsection (c) of section 5, five per centum of total compensation; or (2) if such pension plan provides for an offset under clause (2) of subsection (c) of section 5: (i) on compensation on which social security taxes are payable, at a rate calculated by subtracting from five per centum the product obtained by multiplying three per centum by such offset percentage; and (ii) on compensation in excess of that on which social security taxes are payable, if any, five per centum.(b) The remainder of the needed annual contributions, as determined by the actuary, shall become the obligation of the borough, town, township or regional police department, and shall be paid by it to the pension fund by annual appropriations.(c) The governing body of the borough, town, township or regional police department may, on an annual basis, by ordinance or resolution, reduce or eliminate payments into the fund by members. Except as otherwise provided in this subsection, reduction or elimination of member contributions shall not permit the return of contributions or any interest or fund earnings to be made to members while actively employed as a police officer by any borough, town or township subject to this act. Where an agreement, collectively bargained or otherwise, arbitration award or court decision was agreed to, issued or rendered on or prior to February 23, 1994, which provided for a return of contributions, with or without interest, or fund earnings to members, a return of contributions, with or without interest, or fund earnings shall be made to members and any such return of contributions shall reduce or eliminate any entitlement to refunds pursuant to section 9. No borough, town or township making such return or member receiving such return shall be required to restore to the fund any such contributions, interest or fund earnings.1956, May 29, P.L. (1955) 1804, No. 600, § 6. Amended 1957, July 10, P.L. 676, § 1; 1965, Dec. 7, P.L. 1042, § 1; 1972, June 15, No. 118, § 2; 1995, June 30, P.L. 162, No. 22, § 1, imd. effective; 1996, May 10, P.L. 162, No. 33, § 7, imd. effective; 2002, April 17, P.L. 239, No. 30, § 3, imd. effective.