Laserfiche WebLink
· - 10/25/99 <br /> 0 RI GINAL <br /> <br /> RESOLUTION NO. 13757 <br /> <br /> RESOLUTION IMPLEMENTING SECTION 414 (h) (2) OF THE <br /> INTERNAL REVENUE CODE FOR MEMBERS OF THE PUBLIC <br /> EMPLOYEES RETIREMENT SYSTEM WITHIN THE GROUP OF <br /> EMPLOYEES REPRESENTED BY REDWOOD CITY POLICE <br /> OFFICERS ASSOCIATION <br /> <br /> WHEREAS, thc City of Redwood City, a municipal corporation of the State of <br />California, is empowered to implement the provisions of Section 414 (h) (2) of the Internal <br />Revenue Code ("IRC"); and <br /> <br /> WHEREAS, the Board of Administration of the Public Employees Retirement System <br />of the State of California ("PERS") adopted its resolution implementing IRC Section 414 (h) (2) <br />on September 18, 1985; and <br /> <br /> WHEREAS, the Intemai Revenue Service stated, on December 6, 1985, that the <br />implementation of the provisions of IRC Section 414 (h) (2) pursuant to the Resolution of said <br />Board of Administration would satisfy the legal requirements of IRC Section 414 (h) (2); and <br /> <br /> WHEREAS, this Council has determined that even though implementation of the <br />provisions of IRC Section 414 (h) (2) is not required by law, the tax benefit offered by IRC <br />Section 414 (h) (2) should be provided to members of PERS within the group of employees <br /> <br />represented by Redwood City Police Officer Association; <br /> NOW, THEREFORE; <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, AS <br /> <br /> Reso-764 <br /> DES:djk <br /> F:Shared/Shared/Counci/Reso <br /> <br /> 1 <br /> <br /> <br />