HomeMy Public PortalAbout2010.259 (12-21-10) RESOLUTION NO. 2010.259
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD TO TAX
DEFER MEMBER PAID CONTRIBUTIONS — IRC 414(H)(2) EMPLOYER PICK-UP
WHEREAS, the governing body of the City of Lynwood has the authority to �
implement the provisions of section 414(h)(2) of the Internal Revenue Code (IRC); and
` WHEREAS, the City of Lynwood 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 BY THE CITY COUNCIL OF THE CITY
OF LYNWOOD AS FOLLOWS: "� � �
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Section 1. That the City of Lynwood will implement� 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 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.
Section 2. That the contributions made by the City of Lynwood to the
California Public Employees' Retirement System, although designated as employee
contributions, are being paid by the City of Lynwood in lieu of contributions by the
employees who are members of the California Public Empioyees' Retirement System.
Section 3. 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 Lynwood to
the California Public Employees' Retirement System.
Section 4. That the City of Lynwood 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.
Section 5. That the amount of the contributions designated as employee
contributions and paid by the City of Lynwood to the California Public Employees'
Retirement System on behalf of employees shall be the entire contribution required of
the employee by the California Public Employees' Retirement Law (California
Government Code Sections 20000, et seq.).
Section 6. That the contributions designated as employee contributions made
by the City of Lynwood to the California Public Employees' Retirement System shall be
treated for all ur oses other than taxation in the same wa th e
p p , y. e m mber contributions
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are treated by the California Public Employees' Retirement System.
PASSED, APPROVED and ADOPTED this 21 day of December, 201A.
' � �_� � c� i � -
ide Castro, Mayor
ATTEST:
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Maria Quinone , City Clerk oger �. Haley, � Manager
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
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Fred alante, City Attorney Alfredo J. L ez , of
Human Resources
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
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) SS.
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I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
foregoing Resolution was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 21 day of December, 2010.
AYES:
NOES:
ABSENT:
ABSTAIN
COUNCIL MEMBERS FLORES, �RODRIGUEZ, SANTILLAN, MORTON
AND CASTRO
NONE
NONE
NONE
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
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) SS.
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I, the undersigned City Clerk of the City of Lynwood, and the Clerk of the City
Council of said City, do hereby certify that the above foregoing is a full, true and correct
copy of Resolution No. 2010.259 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated. Dated this 21 day of December,
2010.
Maria Quinonez, City lerk
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