Res 11-039RESOLUTION NO. 11 -039
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF POWAY, CALIFORNIA,
TO DEFER MEMBER PAID CONTRIBUTIONS — IRC 414(H)(2)
WHEREAS, the governing body of the City of Poway has the authority to implement
the provisions of section 414(h)(2) of the Internal Revenue Code (IRC); and
WHEREAS, the City of Poway 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 who are members of the
California Public Employees' Retirement System.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Poway
as follows:
That the City of Poway will implement the provisions of section
414(h)(2) Internal Revenue Code by making the employee
contributions pursuant to California Government Code Section 20691
to the California Public Employees' Retirement System on behalf of all
its employees or all its employees in a recognized group or class of
employment 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.
11. That the contributions made by the City of Poway to the California
Public Employees' Retirement System, although designated as
employee contributions, are being paid by the City of Poway in lieu of
contributions by the employees who are members of the California
Public Employees' Retirement System.
111. That employees shall not have the option of choosing to receive the
contributed amounts directly instead of having them paid by the City
of Poway to the California Public Employees' Retirement System.
IV. That the City of Poway 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.
Resolution No. 11 -039
Page 2
V. That the amount of the contributions designated as employee
contributions and paid by the City of Poway 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 Poway 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.
PASSED, ADOPTED AND APPROVED by the City Council of the City of Poway,
California, at a regular meeting this 5th day of July, 2011.
ATTE
Li A. royan, MMC, City Clerk
STATE OF CALIFORNIA )
)SS
COUNTY OF SAN DIEGO)
mai..
I, Linda A. Troyan, MMC, City Clerk of the City of Poway, do hereby certify under
penalty of perjury that the foregoing Resolution No. 11 -039 was duly adopted by the City
Council at a meeting of said City Council held on the 5th day of July, 2011, and that it was
so adopted by the following vote:
AYES: BOYACK, GROSCH, MULLIN, CUNNINGHAM, HIGGINSON
NOES: NONE
ABSENT: NONE
DISQUALIFIED: NONE
Li a A. royan, MMC, City Clerk
ity of Floway