HomeMy WebLinkAboutResolution - 3403 STATE OF CALIFORNIA) RESOLUTION NO. 3403
COUNTY OF RIVERSIDE)ss
CITY OF SAN JACINTO)
RESOLUTION TO TAX DEFER MEMBER PAID CONTRIBUTIONS
IRC 414(h)(2)
EMPLOYER PICK-UP
WHEREAS, the governing body of the City of San Jacinto has the authority to
implement the provisions of section 414(h)(2) of the Internal Revenue Code ("IRG"); and
WHEREAS, the City of San Jacinto 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 employees in the Service
Employees International Union Local 721 (SEIU) who are members of the California
Public Employees' Retirement System:
NOW, THEREFORE, BE IT RESOLVED:
I. That the City of San Jacinto 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
MAW 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. This provision will apply to
the SEIU, a recognized group or class who are employed by the City of
San Jacinto and are members of the California Public Employees'
Retirement System.
II. That the contributions made by the City of San Jacinto to the California
Public Employees' Retirement System, although designated as employee
contributions, are being paid by the City of San Jacinto 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
San Jacinto to the California Public Employees' Retirement System.
IV. That the City of San Jacinto 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 San Jacinto 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.)
VI. That the contributions designated as employee contributions made by the
City of San Jacinto 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 this 20th day of September
2011 , by the following vote:
Ayes: Bartel, Di Memmo, Kotyuk, Ledezma, Miller
Nays: None
Abstain: None
Absent: None
City of an Jacinto
Scott Miller, Mayor
ATTEST:
i
ichard Miller, City Clerk
APPROVED AS TO FORM:
Best Best & Krieger, LLP
�efflr . Bailin City Attorney