HomeMy WebLinkAboutCity Council - 2003-32 RESOLUTION NO. 2003-32
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTINGTON BEACH AUTHORIZING EMPLOYEES TO
PAY MEMBER CONTRIBUTIONS FOR PERS
RETIREMENT WITH THEIR PRE-TAX DOLLARS
WHEREAS,the City of Huntington Beach has the authority to implement the provisions
of Section 414(h)(2) of the Internal Revenue Code (IRC); and
The Board of Administration of the Public Employees' Retirement System adopted its
resolution re Section 414(h)(2) IRC on September 18, 1985; and
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
The City Council of the City of Huntington Beach 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 employees who are members of the
Public Employees' Retirement System,
NOW, THEREFORE, the City Council of the City of Huntington Beach does hereby
resolve as follows:
1. That the City of Huntington Beach will implement the provisions of Section
414(h)(2) of the Internal Revenue Code by making employee contributions pursuant to
California Government Code Section 20691 to the Public Employees' Retirement System on
behalf of its employees who are members of the 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.
2. That the contributions made by the City of Huntington Beach to the Public
Employees' Retirement System, although designated as employee contributions, are being paid
by the City of Huntington Beach in lieu of contributions by the employees who are members of
the Public Employees' Retirement System.
3. That employees shall not have the option of choosing to receive the contributed
amounts directly instead of having them paid by the City of Huntington Beach to the Public
Employees' Retirement System.
4. That the City of Huntington Beach shall pay to the Public Employees' Retirement
System the contributions designated as employee contributions from the same source of funds as
used in paying salary.
03resolpre tax PERS/4118/03 1
9 0 Resolution No. 2003-32
5. That the amount of the contributions designated as employee contributions and
paid by the City of Huntington Beach to the 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.).
6. That the contributions designated as employee contributions made by the City of
Huntington Beach to the Public Employees' Retirement System shall be treated for all purposes,
other than taxation, in the same way that member contributions are treated by the Public
Employees' Retirement System.
PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a
regular meeting thereof held on the 1 9th day of Mai' , 2003.
ATTEST: J1.
City Clerk Mayor
REVIEWED AND APPROVED: APPROVED AS TO FORM:
City Ad zstrator JC ty Attorney ! D
INITIATED �� yjg;�D-
DPPirector of dministrative Services
03reso/pre tax PER5/4/13/03 2
Res. No. 2003-32
STATE OF CALIFORNIA
COUNTY OF ORANGE } ss:
CITY OF HUNTINGTON BEACH }
1, CONNIE BROCKWAY, the duly elected, qualified City Clerk
of the City of Huntington Beach, and ex-officio Clerk of the City Council of
said City, do hereby certify that the whole number of members of the City
Council of the City of Huntington Beach is seven; that the foregoing resolution
was passed and adopted by the affirmative vote of at least a majority of all the
members of said City Council at an regular meeting thereof held on the
99th day of May 2003 by the following vote:
AYES: Sullivan, Coerper, Green, Boardman, Cook, Houchen, Hardy
NOES: None
ABSENT: None
ABSTAIN: None
City Clerk and ex-officio Clerk of the
City Council of the City of
Huntington Beach, California