12-243 RESOLUTION NO. 12-243
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MENIFEE, CALIFORNIA,
REQUESTING RESOLUTION TO TAX DEFER MEMBER PAID CONTRIBUTIONS —
IRC 414(H)(2) EMPLOYER PICK UP
WHEREAS, the governing body of the City of Menifee has the authority to
implement the provisions of section 414 (h)(2) of the Internal Revenue Code (IRC); and
WHEREAS, the City of Menifee 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 employees of the City of Menifee, who
are members of the California Public Employees' Retirement System:
NOW, THEREFORE, BE IT RESOLVED:
I. That the City of Menifee 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 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.
II. That the contributions made by the City of Menifee to the California Public
Employees' Retirement System, although designated as employee
contributions, are being paid by the City of Menifee 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
Menifee to the California Public Employees' Retirement System.
IV. That the City of Menifee 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 same amount of the contributions designated as employee
contributions are paid by the City of Menifee 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 Menifee to the California Public Employees' Retirement System
shall be treated for all purposes, other than taxation, in the same way that
Resolution 11-243
Benefits
member contributions are treated by the California Public Employees'
Retirement System.
VII. The effective date of this Resolution shall be July 1, 2008.
PASSED, APPROVED and ADOPTED this 3rd day of January, 2012.
V
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5h'nV. Denver, Mayor
ATTEST:
Kathy Bennett, City Clerk
APPR VC AS TO F R :
Jos W etcher, City Attorney
2
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Wallace W. Edgerton STATE OF CALIFORNIA )
Mayor COUNTY OF RIVERSIDE ) ss
John V. Denver CITY OF MENIFEE )
Mayor Pro Tern I, Kathy Bennett, City Clerk of the City of Menifee, do hereby certify that the
Darcy Kuenzi foregoing Resolution No. 12-243 was duly adopted by the City Council of the City
Councilmember of Menifee at a meeting thereof held on the 3rd day of January, 2012 by the
Thomas Fuhrman following vote:
Councilmember
Ayes: Denver, Edgerton, Fuhrman, Kristjansson, Kuenzi
Sue Kristjansson Noes: None
Councilmember Absent: None
Abstain: None
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Kathy Bennett, City Clerk
29714 Haun Road
Menifee,CA 92586
Phone 951.672.6777
Fax 951.679.3843
www.c1tyofrnenlfee.us