HomeMy WebLinkAbout1994-69 PERS ContributionsRESOLUTION NO. 94-~,~
A RESOLUTION AUTHORIZING CITY ADMINISTRATOR TO TAKE
NECESSARY ACTION TO MEET REQUIREMENTS OF FEDERAL TAX
CODE TO EXCLUDE FROM TAXATION EMPLOYEE
CONTRIBUTIONS TO PERS
THE CITY OF ASHLAND RESOLVES AS FOLLOWS:
SECTION 1. For purposes of 26 United States Code section 414(h)(2), City of
Ashland employee contributions to the Public Employes' Retirement System (PERS)
are deemed "picked up" by the City. Employees shall not have the option of receiving
money designated for retirement contributions and directly making the contribution to
PERS. Employees' reported salary for tax purposes shall be reduced by the amount
of the employees' contribution to PERS.
The City Administrator is instructed to take such actions as may be necessary
to implement this resolution including any additional action as may be necessary under
the Internal Revenue Code to exclude PERS contributions from taxation.
This resolution was read by title only in accordance with Ashland Municipal Code
§2.04.090 duly PASSED and ADOPTED this '~ day of ,~,~, 1994.
N'~7~Fra City Recorder
SIGNED and APPROVED this --2/~,--~ day of $L~-.;.¢~.~_--' , 1994.
,/jt~ewed ~,,)to form:
~olden, Mayor
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