HomeMy WebLinkAbout1990 048 CC RESO1990 048 CC RESO (Ìì ¿ RESOLUTION NO. 90-48
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF BALDWIN PARK IMPLEMENTING THE
PROVISIONS OF SECTION 414(h)(2) OF THE
INTERNAL REVENUE CODE
WHEREAS, the City of Baldwin Park has the authority
to implement the provisions of section 414(h)(2) of the
Internal Revenue Code IRC); and
WHEREAS, the Board of Administration of the Public
Employees' Retirement System adopted its resolution re:
section 414(h)(2) IRC on September 18, 1985; and
WHEREAS, the Internal Revenue Service has stated on
December 6, 1985, that the implementation of the provisions of
section 414(h) 2) IRC pursuant to the Resolution of the Board
of Administration would satisfy the legal requirements of
section 414(h)(2) IRC; and
WHEREAS, the City of Baldwin Park has determined
that even though the implementation of the provisions of
section 414(h)(2) IRC is not required by law, the tax benefit
offered by section 414(h) 2) IRC should be provided to its
employees who are members of the Public Employees' Retirement
System;
NOW, THEREFORE, BE IT RESOLVED:
I. That the city of Baldwin Park will implement
the provisions of section 414(h)(2) Internal Revenue Code by
making employee contributions pursuant to California
Government Code section 20615 to the Public Employees'
Retirement System on behalf of its employees who are members
of the Public Employees' Retirement System. Employee
contributions" shall mean those contributions to the Public
Employees' Retirement System which are deducted from the
salary of employees and are credited to individual employee's
accounts pursuant to California Government Code section
20615.
II. That the contributions made by the City of
Baldwin Park to the Public Employees' Retirement System,
although designated as employee contributions, are being paid
by the City of Baldwin Park in lieu of contributions by the
employees who are members of the Public Employees' Retirement
System.
III. That employees shall not have the option of
choosing to receive the contributed amounts directly instead
of having them paid by the City of Baldwin Park to the Public
Employees' Retirement System.
IV. That the City of Baldwin Park shall pay to the
Public Employees' Retirement System the contributions
designated as employee contributions from the same source of
funds as used in paying salary.
V. That the amount of the contributions
designated as employee contributions and paid by the City of
Baldwin Park to the Public Employees' Retirement System on
behalf of an employee shall be the entire contribution
required of the employee by the Public Employees' Retirement
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1990 048 CC RESO (Ìì ¿ Resolution 90-48
Page 2
Law California Government Code Section 200000, et sea.).
VI. That the contributions designated as employee
contributions made by the City of Baldwin Park to the Public
Employees' Retirement System shall be treated for all
purposes, other than taxation, in the same way that member
contributions are treated by the Public Employees' Retirement
System.
BE IT FURTHER RESOLVED, that the City Clerk shall
certify to the adoption of this Resolution.
APPROVED AND ADOPTED this 20th day of June, 1990.
Mayor
STATE or CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin
Park do hereby certify that the foregoing RESOLUTION was duly
and regularly approved and adopted by the City Council of the
City of Baldwin Park at its regular meeting of the City
Council on the 20th day of June, 1990, by the following vote.
AYES: COUNCILPERSON MCNEILL, IZELL,GALLEGOS,KEYSER,MAYOR LOWES
NOES: COUNCILPERSON NONE
ABSENT: COUNCILPERSON NONE
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37650-U01
1990-U02
048-U02
CC-U02
RESO-U02
LI3-U03
FO2126-U03
FO2127-U03
DO2177-U03
C6-U03
RESO-U03
10/10/2001-U04
ADMIN-U04
RESO-U05
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JUN-U05
20-U05
1990-U05