Any employee included in § 3-12C-301 shall make a contribution to the system, except as specified in § 3-12C-1405, and the employer shall make an equal contribution to the system, except as otherwise specified, at the following rates:
(1) Class A members: five percent of compensation through June 30, 2002, and six percent of compensation after June 30, 2002;
(2) Justices, judges, and magistrate judges: nine percent of compensation;
(3) All other Class B members: eight percent of compensation.
The employer shall cause to be deducted on each payroll of the employee for each payroll period the contribution payable by the employee as provided in this section.
Except for those contributions specified in § 3-12C-1405, contributions required of employees by this section shall be made by the participating unit pursuant to the provisions of § 414(h)(2) of the Internal Revenue Code. The contributions shall be classified as employee contributions for all purposes under this chapter. An employee may not receive the amount of the contributions directly rather than as contributions under this section.