HomeMy WebLinkAboutRES NO 63-97 Return to CalPER~- Unit 830
Employer Code: 0036
EMPLOYER PICKUP RESOLUTION
CITY O1: BAKERSFIELD
PRE-TAX PAYROLL DEDUCTION PLAN ~,~o~_~'0~ No. [,~3-??
FOR SERVICE CREDIT PURCHASES APproved '/'-,:=7,~- ~7
(CONTRIBUTION CODE 14)
WHEREAS, the Board of Administration of the California Public Employees' Retirement System
(CalPEP, S) at the April 1996 meeting approved a pre-tax payroll deduction plan for service
credit purchases under Internal Revenue Code (IP,C) section 414(h)(2); and
WHEREAS, the City of Bakersfield {Employer} has the authority to
implement the provisions of IRC section 414(h)(2) and has determined that even though
implementation is not required by law, the tax benefit offered by this section should be provided
to those employees who are members of CalPERS; and
WHEREAS, the City of Bakersfield {Employer} elects to participate
in the pre-tax payroll deduction plan for all employees in the following CaIPERS coverage
group(s):
{Membership Coverage Group(s)}
Fireman/Emergency Medical Technician
Police Officer
Miscellaneous
NOW, THEP,EFOP,E, BE IT P,ESOLVED:
I. That the City of Bakersfield {Employer} will implement the provisions
of IRC section 414(h)(2) by making employee contributions for service credit purchases
pursuant to the California State Government Code on behalf of its employees who are
members of CalPERS and who have made a binding irrevocable election to participate in
the pre-tax payroll deduction plan. "Employee contributions" shall mean those contributions
reported to CalPERS which are deducted from the salary of employees and are credited to
individual employee accounts for service credit purchases thereby resulting in tax deferral of
employee contributions.
II. That the contributions made by the City of Bakersfield {Employer}
to CalPEP,S, although designated as employee contributions, are being paid by the
City of Bakersfield {Employer} in lieu of contributions by the employees
who are members of CaIPERS.
III.
That the employees shall not have the option of choosing to receive the contributed
amounts directly instead of having them paid by the city of Bakersfield {Employer}
to CalPERS.
IV.
That the City of Bakersfield shall pay to CalPERS the contributions
designated as employee contributions from the same source of funds as used in
paying salary, thereby resulting in tax deferral of employee contributions.
That the effective date for commencement of the pre-tax payroll deduction plan
cannot be any earlier than July 1, 1996, or the date the completed resolution is
received and approved in Cal PERS, whichever is later.
VI.
That the governing body of the City of Bakersfield shall participate in
and adhere to requirements and restrictions of the pre-tax payroll deduction plan by
reporting pre-tax payroll deductions when authorized by CalPERS for those
employees of the above stated Coverage Groups who have elected to participate in
this plan.
I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by the Council
of the City of Bakersfield at a regular meeting thereof held on April 23, 1997, by the
following vote:
AYES: COUNClU~IEMBER DeMOND, CARSON, SMITH, McDERMOTT, ROWEES, SULLIVAN, SALVAGG~O
NOES: COUNCil..IVlEUBER
ABSTAIN: COUNCiL&IEf,41)ER
ASSENt: COUNCILMEMBER
APPROVED ~R ~ $1~7
MAYOR of the City of Bakersfield
CITY CLERK and EX OFF~IO CLERK of
the Council of the City of Bakersfield
APPROVED as to form:
JUDY SKOUSEN
CITY ATTORNEY of the City of Bakersfield
RETURN ADDRESS:
A A A A A A A & A A & A A A & A A A A A A A A A & A A A A A A A A A A A A A & A A & A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
FOR CALPERS USE ONLY
Pre-tax Payroll Deduction Plan Effective Date:
Approved by: Title:
MEMBER SERVICES DIVISION, Service Credit Section - Unit