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Res11 15136
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Res11 15136
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Last modified
10/11/2019 7:46:39 AM
Creation date
10/11/2019 7:46:39 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Redevelopment Agency
Date
8/22/2011
Description
RESOLUTION N0.75136 RESOLUTION IMPLEMENTING SECTION 414 (h)(2) OF THE INTERNAL REVENUE CODE the City of Redwood City has the authority to implement the provisions of Section 414(h)(2) of the Internal Revenue Code (IRC); and the City of Redwood City adopted a Resolution implementing Section 414(h)(2) of the Internal Revenue Code with respect to statutorily required employee contributions on August 14, 1990; and the City of Redwood City elected to pay the CaIPERS contribution (seven percent [7%] of the eight percent [8%] normal contributions) on behalf of miscellaneous members of the Redwood City Management Employees Association and
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08/22/2011 <br /> 5. The contributions defined above are mandatory and the employees do not <br /> have a cash, or deferred election right (or option) with respect to these <br /> designated employee contributions. Employees may not receive the <br /> contributed amounts directly instead of having them paid by the City of <br /> Redwood City to the Public Employees' Retirement System. <br /> 6. The City of Redwood City shall pay to the Public Employees' Retirement <br /> System the contributions designated above from the same source of funds as <br /> used in paying salary. <br /> . . . <br /> ATTY/RES0.2149/ IMPLEMENTING SECTION 414(H) (2) OF 7HE INTERNAL REVENUE CODE RESO. # 15136 <br /> 081771 , MUFF # 904 <br /> 4 <br />
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