HomeMy WebLinkAbout2004-03-23; City Council; Resolution 2004-0951
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RESOLUTION NO. 2004495
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, AUTHORIZING THE ONE
PERCENT (1 %) CALPERS EMPLOYEE CONTRIBUTION FOR
LOCAL MISCELLANEOUS EMPLOYEES TO BE DEDUCTED
ON A PRE-TAX BASIS.
WHEREAS, the City of Carlsbad has the authority to implement the
provisions of section 414(h)(2) of the Internal Revenue Code (IRC); and
WHEREAS, the Board of Administration of the California Public Employees’
Retirement System adopted its resolution re section 414(h)(2) IRC on September
18, 1985; and
WHEREAS, the Internal Revenue Service has stated in December 1985, that
the implementation of the provisions of section 414(h)(2) IRC pursuant to the
Resolution of the Board of Administration would satisfy the legal requirements of
section 414(h)(2) IRC; and
WHEREAS, the City of Carlsbad 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 its local
miscellaneous employees who are members of the California Public Employees’
Retirement System.
NOW, THEREFORE, BE IT RESOLVED by the City Council for the City of
Carlsbad, California, as follows:
1. That the above recitations are true and correct.
2. That the City of Carlsbad 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’
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Retirement System on behalf of its local miscellaneous employees who are
members of the California Public Employees’ Retirement System. “Employee
contributions” shall mean those contributions to the California 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.
3. That contributions made by the City of Carlsbad to the California Public
Employees’ Retirement System, although designated as employee contributions,
are being paid by the City of Carlsbad in lieu of contributions by the local
miscellaneous employees who are members of the California Public Employees’
Retirement System.
4. That employees shall not have the option of choosing to receive the
contributed amounts directly instead of having them paid by the City of Carlsbad to
the California Public Employees’ Retirement System.
5. That the City of Carlsbad 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.
6. That the amount of the contributions designated as employee
contributions and paid by the City of Carlsbad to the California Public Employees’
Retirement System on behalf of an employee shall be the entire contribution
required of the employee by the Public Employees’ Retirement Law (California
Government Code sections 20000, et seq.).
I//
Ill
Resolution No. 2004-095 page 2 /a-
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7. That the contributions designated as employee contributions made by the
City of Carlsbad 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 at a regular meeting of the City
Council of the City of Carlsbad on the 23rd day of March, 2004; by the following vote,
to wit on behalf of the City:
AYES: Council Members Lewis, Finnila, Hall and Packard.
NOES: None
ABSENT: Council Member Kulchin.
CLVE A. LEWIS, Mayor
Ramona Finnila, Mayor Pro Tem
ATTEs2
mAIN M. WOOD, City Clerk P
(SEAL)
Resolution No. 2004-095 page 3
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