HomeMy WebLinkAboutReso 2010-288 (2)RESOLUTION NO. 2010-288
RESOLUTION TO TAX DEFER MEMBER PAID CONTRIBUTIONS
IRC 414(h)(2) EMPLOYER PICK-UP
WHEREAS, the governing body of the City of Chula Vista has the authority to implement the
provisions of section 414(h)(2) of the Internal Revenue Code (IRC); and
WHEREAS, the City of Chula Vista 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 miscellaneous and all Safety Police and Fire
employees, who are members of the California Public Employees' Retirement System:
NOW, THEREFORE, BE IT RESOLVED:
That the City of Chula Vista 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' Retirement System on behalf of
all its miscellaneous and safety Police and Fire 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.
That the contributions made by the City of Chula Vista to the California Public
Employees' Retirement System, although designated as employee contributions, are
being paid by the City of Chula Vista in lieu of contributions by the employees who are
members of the California Public Employees' Retirement System.
III. That employees shall not have the option of choosing to receive the contributed
amounts directly instead of having them paid by the City of Chula Vista to the California
Public Employees' Retirement System.
IV. That the City of Chula Vista 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.
V. That the amount of the contributions designated as employee contributions and paid by
the City of Chula Vista to the California Public Employees' Retirement System on behalf
of an employee shall be the entire contribution required of the employee by the
California Public Employees' Retirement Law (California Government Code Sections
20000, et seq.).
VI. That the contributions designated as employee contributions made by the City of Chula
Vista 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.
Resolution No. 2010-288
Page 2
PASSED AND ADOPTED by the governing body of the City of Chula Vista this day of December
14th, 2010.
BY
Kel y K. B on e
it ctor man Resources
Approved as to form:
RETURN ADDRESS:
City of Chula Vista
Human Resources Department
276 Fourth Avenue
Chula Vista, CA 91910
FOR CALPERS USE ONLY
RESOLUTION TO TAX DEFER MEMBER PAID CONTRIBUTIONS - IRC 414(h)(2)
Approved by:
Title:
Resolution No. 2010-288
Page 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 14th day of December 2010 by the following vote:
AYES: Councilmembers: Aguilar, Bensoussan, Ramirez and Cox
NAYS: Councilmembers: None
ABSENT: Councilmembers: Castaneda
Cheryl Cox, Ma~or
ATTEST:
Donna R. Norris, CMC, City Clerk
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2010-288 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 14th day of December 2010.
Executed this 14th day of December 2010.
Donna R. Norris, CMC, City Clerk