HomeMy WebLinkAboutRESOLUTIONS-1984-034-R-844/ 1i/84
34-R-84
A RESOLUTION
Authorizing Employer Paid (Pick Up)
for Employee Contributions to IMRF
WHEREAS, Section 7-173.2 of the Illinois Pension Code requires
employers to adopt an employer paid (pickup) plan for employee contributions
to the Illinois Municipal Retirement Fund, beginning July 1, 1984; and
WHEREAS, Section 414(h) of the Internal Revenue.Code provides that
employer paid (pickup) employee contributions are excluded in taxable
gross income until distributed as a refund, annuity or death benefit; and
WHEREAS, it is desirable that the method of implementing the
employer paid (pickup) plan be clarified;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
EVANSTON, COOK. COUNTY, ILLINOIS:
SECTION 1: That employee contributions to the Illinois Municipal
Retirement Fund shall be paid by the City of Evanston
on behalf of all the employees enrolled in the fund.
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SECTION 2: It is further resolved that the payment shall be made
by reducing the amount of the gross earnings payable to
employees by the amount of the contributions and making payment of this
amount directly to the Fund.
SECTIQN-3: It is further resolved that the payment of employee
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contributions provided shall be effective for all
compensation paid to employees beginning with July 1, 1984.
ATTEST:
City Clerk
Adopted:
, 1984