HomeMy WebLinkAboutReso - CC - 030-2000RESOLUTION NO. 30-2000
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
IMPLEMENTING SECTION 414 (h) (2) OF THE INTERNAL REVENUE CODE
RESOLVED by the CITY COUNCIL OF THE CITY OF BURINGAME that:
WHEREAS, the City of Burlingame 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 Public Employees' Retirement
System adopted its resolution 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 Burlingame 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, BE IT RESOLVED BY THE COUNCIL OF THE
CITY OF BURLINGAME:
1. The City of Burlingame 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 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. The contributions made by the City of Burlingame to the Public Employees'
Retirement System, although designated as employee contributions, are being paid by the
City of Burlingame in lieu of contributions by the employees who are member of the
Public Employee's Retirement System.
3. Employees shall not have the option of choosing to receive the contributed
amounts directly instead of having them paid by the City of Burlingame to the Public
Employees' System.
4. The City of Burlingame 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.
5. The amount of the contributions designated as employee contributions and paid
by the City of Burlingame 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 sep.)
6. The contributions designated as employee contributions made by the City of
Burlingame 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.
Mayor
I, Ann T. Musso, City Clerk of the City of Burlingame, do hereby certify that the
foregoing resolution was introduced at a regular meeting of the City Council held on the
6th day of March 2000, and was adopted thereafter by the following
vote:
AYES: COUNCILMEMBERS: COFFEY, GALLIGAN, JANNEY, SPINELLI, O'MAHONY
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
t fly I � k1 r rya
City Clerk