HomeMy Public PortalAbout21-2005-21 RESOLUTION NO. 2005-21
A RESOLUTION AMENDING RESOLUTION 2005-7 FOR EMPLOYER
PARTICIPATION IN THE PICK-UP OF ADDITIONAL EMPLOYEE
CONTRIBUTIONS
WHEREAS, the Common Council of the City of Greencastle passed Resolution 2005-7
authorizing the City, pursuant to Section 414)h)(2) of the Internal Revenue code, to pick-up and
pay employee contributions to an employee's annuity savings account which are made in addition
to the mandatory employee contribution (hereinafter "additional employee contributions"), in
accordance with rules adopted by the Indiana Public Employees' Retirem ent Fund (hereinafter
"Fund"). The effective date for contributions to be made under Resolution 2005-7 was listed as
September 1, 2005.
WHEREAS, rules governing the Fund require that the effective date must be prior to
September 1, 2005 in order for employees to make contributions during the 2005 calendar year.
NOW THEREFORE BE IT RESOLVED THAT the effective date for the Employer to
pick-up all of the additional employee contributions made by employees through a binding
irrevocable payroll deduction authorization shall be changed from September 1, 2005 to August 1,
2005. No additional employee contributions prior to the Employer's adoption of this Resolution
shall be picked-up;
All other terms and conditions contained in Resolution 2005-7 shall remain in full force and
effect.
PASSED AND RESOLVED the Common Council of the City of Greencastle at its
regular meeting this \ Z day of , 2005.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
Thomas W. Roach Russell W. Evans
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Mark N. Hammer ohn Lanie
Robert Sedlack