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HomeMy WebLinkAboutResolution #0930 RESOLUTION N0. 930 A RESOLUTION COMMITTING CERTAIN CITY EMPLOYEES TO INVOLUNTARY EMPLOYER PAID CONTRIBUTIONS TO THE ILLINOIS MUNICIPAL RETIREMENT FUND WHEREAS, Section 7-173.2 of the Illinois Pension Code permits employers to make payments of employee contributions to the Illinois Municipal Retirement Fund; and, WHEREAS, Section 414(h) of the Internal Revenue Code provides that employer paid (picked-up) employee contributions are excluded in taxable gross income until distributed as a refund, annuity or death benefit; and, WHEREAS, the Committee on Negotiations, Grievance and Personnel has determined that it is in the best interest of affected City personnel that employee contributions to the Illinois Municipal Retirement Fund be paid by the employer; and, WHEREAS, the City Council of the City of Canton, Fulton County, Illinois has made a similar determination. NOW, THEREFORE, BE IT, AND IT HEREBY IS, RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, Fulton County, Illinois as follows: 1. That employee contributions to the Illinois Municipal Retirement Fund shall be paid by the City of Canton, employer, on behalf of all of said City's employees enrolled in the Fund. 2. That all such payments shall be made by reducing the amount of the employee's gross earnings payable to each such employee by the amount of the contributions and by then making payment of such amount directly to the Fund. 3. That payment of employee contributions provided shall be effective for all compensation paid to affected employees beginning with the month of April, 1982. 4. That this Resolution shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois, and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois this 17th day of March follows: 1982, and upon a roll call vote as AYES: Aldermen Horr, Carl, Grant, Sarff, Savill, Hammond. NAYS: None. ABSENT: Aldermen Clarke, Kovachevich. / /~' APPROVED : ~ ~'~-e~=~~~~~~~'~~-v~,2 , Donald E. 'Edwards, Mayor. ATTEST: ~~, Nan y White City Clerk.