HomeMy WebLinkAbout08-83 - Approving Adoption of CALPERS Employer Pickup Resolution (Pre-Tax Payroll DeductionPlan)RESOLUTION NO. 08-83
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF COSTA MESA, CALIFORNIA, APPROVING THE
ADOPTION OF THE CALIFORNIA PUBLIC EMPLOYEES'
RETIREMENT SYSTEM (CALPERS) EMPLOYER
PICKUP RESOLUTION, AUTHORIZING THE
IMPLEMENTATION OF A PRE-TAX PAYROLL
DEDUCTION PLAN FOR (CALPERS) EMPLOYEE
CONTRIBUTIONS UNDER INTERNAL REVENUE CODE
SECTION 414(h)(2) FOR ALL EMPLOYEE GROUPS.
THE CITY COUNCIL OF THE CITY OF COSTA MESA HEREBY RESOLVES AS
FOLLOWS:
WHEREAS, the City of Costa Mesa 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 in December 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 Costa Mesa as 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 Costa Mesa will implement the provisions of section 414(h)(2)
Internal Revenue Code by making employee contributions pursuant to California
Government Code section 20691 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 20691.
II. That the contributions made by the City of Costa Mesa to the Public Employees'
Retirement System, although designated as employee contributions, are being paid
by the City of Costa Mesa 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 Costa Mesa to the
Public Employees' Retirement System.
IV. That the City of Costa Mesa 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 Costa Mesa 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 Law (California Government Code sections
20000, et seg.).
VI. That the contributions designated as employee contributions made by City of Costa
Mesa 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.
PASSED AND ADOPTED this 18th day of November, 2008.
ATTEST:
aoz� � � .
J .Folcik, City Clerk
Eric R. Bever, Mayor
APPROVED AS TO FORM:
Ki berly Hall Barlow, City Attorney
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
I, JULIE FOLCIK, City Clerk of the City of Costa Mesa, DO HEREBY CERTIFY
that the above and foregoing is the original of Resolution No. 08-83 and was duly
passed and adopted by the City Council of the City of Costa Mesa at a regular meeting
held on the 18th day of November, 2008, by the following roll call vote, to wit:
AYES:
COUNCIL MEMBERS:
BEVER, MANSOOR, DIXON, LEECE.
NOES:
COUNCIL MEMBERS:
NONE.
ABSENT:
COUNCIL MEMBERS:
FOLEY.
IN WITNESS WHEREOF, I have hereby set my hand and affixed the seal of the
City of Costa Mesa this 19th day of November, 2008.
Q
— a,/,) JU1,9 FOLCIK, CITY CLERK
(SEAL). --