HomeMy WebLinkAbout17-72 CC Resolution RESOLUTION NO. 17-72
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TEMECULA TO TAX DEFER MEMBER PAID
CONTRIBUTIONS UNDER IRC 414(H)(2) — EMPLOYER
PICK-UP
THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE
AS FOLLOWS:
WHEREAS, the governing body of the City of Temecula has the authority to
implement the provisions of section 414(h)(2) of the Internal Revenue Code (IRC); and
WHEREAS, the City of Temecula 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 All Employees who are
members of the California Public Employees' Retirement System:
NOW, THEREFORE, BE IT RESOLVED:
I. That the City of Temecula 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 California Public Employees' Retirement
System on behalf of all its employees or all its employees in a recognized group
or class of employment who are members of the California 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.
ll. That the contributions made by the City of Temecula to the California Public
Employees' Retirement System, although designated as employee contributions,
are being paid by the City of Temecula in lieu of contributions by the employees
who are members of the California 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 Temecula to the
California Public Employees' Retirement System.
IV. That the City of Temecula shall pay to the California 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 Temecula to the California Public Employees' Retirement
System on behalf of an employee shall be the entire contribution required of the
employee by the California Public Employees' Retirement Law (California
Government Code Sections 20000, et seq.).
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VI. That the contributions designated as employee contributions made by City of
' Temecula to the California Public Employees' Retirement System shall be treated
for all purposes, other than taxation, in the same way that member contributions
are treated by the California Public Employees' Retirement System.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Temecula this 10th day of October, 2017.
aryann Edwards, Mayor
ATTEST:
Rani o I, City Clerk
[SEAL]
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STATE OF CALIFORNIA )
' COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the
foregoing Resolution No. 17-72 was duly and regularly adopted by the City Council of the
City of Temecula at a meeting thereof held on the 10th day of October, 2017, by the
following vote:
AYES: 5 COUNCIL MEMBERS: Comerchero, Naggar, Rahn, Stewart,
Edwards
NOES: 0 COUNCIL MEMBERS: None
ABSTAIN: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
' Randi Johl, City Clerk
Resos 17-72 3