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RESOLUTION IVp. 3206
A RE90LUT I ON TO ESTABLISH AID TO I INCLUDE OQui'OVSAT I ON PAID I~DER
AN I MFANAL REVI]~1E OODE SECTION 125 PLAN AS 1 NRF EARN I f~GS .
1Mf3iEAS, the Community and Industrial Development Committee
of the Canton City Council has determined that it is necessary and
in the best interest of the City of Canton to pass a resolution to
include compensation paid under an Internal Revenue Code section
125 plan as INRF earnings; and,
W-if3~EAS, standard member earnings reportable to the I l l inois
Retirement Fund do not include compensation paid under an Internal
Revenue Code section 125 plan or compensation directed into a
premium conversion plan or flexible spending account; and,
W-E.RF.AS, the City Council of the City of Canton is
authorized to include section 125 plan and premium conversion and
flexible spending account compensation as earnings reportable to
IIvRF and it is desirable that it do so.
fUDIV, "I'F-EREFORE, BE I T RESOLVED BY THE CITY OOINC I L OF THE
CITY OF CANTON, Fulton County, Illinois as follows:
1. That the City of Canton shall establish and hereby elect
to include as earnings reportable to IMRF compensation paid under
an Internal Revenue Code section 125 plan and/or compensation
directed into a premium conversion plan or flexible spending
account effective May 1, 1994.
2. That the City Clerk is hereby authorized and directed to
file a duly certified copy of this resolution with the Illinois
Municipal Retirement Fund.
3. That this Resolution shall be in full force and effect
immediately upon its passage by the City Council of the City of
Canton, Illinois.
PASSED by the City Council of the City of Canton, Fulton
County, Illinois at a regular meeting this 21st day of December
1993, upon a roll call vote as follows:
AYES: Aldermen May, Bohler, Meade, Sarff, Phillips, Nk~lleck, May.
NAYS: None.
ABSENT : Alderman. Chapman .
APB:
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Donald E. Edwards, Mayor
ATTEST:
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N ncy Whites City Clerk
CERTIFICATE
STATE C~' Ti T.TNOIS, )
SS.
COUNTY OF FUL'PON. )
I, Nancy Whites, City Clerk of the City of Canton, in the Comity of Fulton
and State of Illinois, cb hereby certify that as the City Clerk of the City
of Canton, I am the keeper of records, minutes, ordinances and other books,
records and papers of said City, and that the foregoing is a true and correct
co?ry of
RESOLUTION N0. 3206
A RESOLUTION TO ESTABI~ISFi 'PO INCLUDE CCJMPENSATION
PAID UNDER AN I]~iTF~tNAL RL'tIENUE CODE SECTION 125 PLAN
AS L*~Il2F EARNINGS .
adopted by the City Crnncil of said City and appto~red by the Mayor thereof
on the 21st day of December 19 ~~.
WITNESS ny hand and the Corporate Seal of the City of Canton, Illimis
this 22nd ~Y of December 19 ~_.
ty
(SEAL)