31-31.5-302. Social security component minimum contributions

31-31.5-302. Social security component minimum contributions. (1) This component covers the members of those employers that have elected coverage under the plan pursuant to section 31-31-704.5. (2) Each member shall make contributions at one-half of the member contribution rate established for the defined benefit component in section 31-31.5-301 by deduction from the salary paid to the member. For each member, the employer shall pay one-half of the employer contribution rate established for the defined benefit component in section 31-31.5-301 including any allocation made to the money purchase component made pursuant to section 31-31.5-301 (3).