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10/25/99 <br /> <br />FOLLOWS: <br /> <br /> 1. The City of Redwood City will implement the provisions of IRC Section 414 (h) (2) <br />for members of PERS within the group of employees represented by Redwood City Police <br />Officers Association ("Designated Employees") by making employee contributions pursuant to <br />California Government Code Section 20691 to PERS on behalf of the Designated Employees who <br />are members of PERS. "Employee contributions" means those contributions to PERS which are <br />deducted from the salary of the Designated Employees and credited to individual employee's <br />accounts pursuant to California Government Code Section 20691. <br /> <br /> 2. The contributions made by the City of Redwood City to PERS, although designated <br />as employee contributions, are being, and shall be, paid by the City of Redwood City in lieu of <br />contributions by the Designated Employees who are members of PERS. <br /> <br /> 3. The Designated Employees shall not, and do not, have the option of choosing to receive <br />the contributed mounts directly instead of having them paid by the City of Redwood City to <br />PERS. <br /> <br /> 4. The City of Redwood City shall pay to PERS the contributions described as employee <br /> contributions for the Designated Employees from the same source of funds as used in paying <br /> salaries. <br /> <br /> 5. The amount of the contributions described as employee contributions and paid by the <br /> City of Redwood City to PERS on behalf of the Designated Employees shall be the entire <br /> contribution required of said employees by the Public Employees' Retirement Law (California <br /> <br /> Government Code Sections 20000 et seq3. <br /> Reso-764 <br /> DES:djk <br /> F:Shared/Shared/Counci/P, eso 13757 <br /> 10/06/99 <br /> 2 <br /> <br /> <br />