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6.2C <br /> Page 2 <br /> Employe�code:Q a a a <br /> EMPIOYER PIGKUP RESOLUTION <br /> PRE-TAX PAYROLL t}EDUCTIC)N PLAN <br /> FOR SERVtCE CREDtT PURCHa,SES <br /> (CONTRIBUTtON CODE 14) <br /> WFiEREAS, ttse Board of Administration of the Califomia Public Empiayees'Retfrement System <br /> (CalPEI�S)at the April 1396 meeting a�proved a pre-ta�c pay►oli deduction ptarr for servic�credit <br /> purchases under Intemat Revenue Code(IRC)section 414(fi)(2); and <br /> WHEREAS,the City af Redwood City {Employer}has the authority to <br /> impieme�the prov�sions of IRC seCtion 414{h)(2)and has de#ermined tf�at even though implementation <br /> is nat required by law,the tax benefit offered by this section shoulcf be provided to those employaes wha <br /> are members af CaIPERS;and <br /> WHEREAS,the f Redw tEmpioyer}elects to participate in <br /> the pre-tax payro{1 d uction plan for aii emptpyees in the foilowing CalPERS amptoyee groups or <br /> classifications(i.e., misceilaneous.,safety,po{ir.e,fire,etc.): <br /> {Emp�yee Groups or Classifications} <br /> ALL MISCELLANEOUS GI2�UPS <br /> ALL SAFETY GROUPS <br /> AI�W,THEREFaRE, BE IT RESC}LVE[3; <br /> � -�h��e City of Redwood City {Em�toyer}wi11 impiementthe provisions <br /> of IRC section 4'!4{h)(2}by making emplayee contri#wtions for service rxedit purchases pursuant to <br /> the Ca!#omia State Govemment Coc�on behal#ot its empbyees who are members of CaiPERS and <br /> who have made a binding iRevocabie eiection to participate in the pre-tax payroll deduction plan. <br /> "Employee contriDutions"shatt mean those contributions�rted to CatPERS which are deductad <br /> from the salary of employees and are credited to individ+,af employee acoounts for'service credit <br /> purchases,chereby resulting in ia�c deferral ot employee contributians. <br /> li. That#he con#ributions made by the City of Redwood City tEmployer} <br /> to CaIPERS,atthough designated as empioyee cantr"tbutio►ts,are being paid by the <br /> C3ty of Redsood City {Empfoysr)in lieu of contributions bythe employees <br /> who are members of�CaIPERS. <br /> 111. i'hat the empbyees shal!not have the option of choosing to receive the contributed amounts directly <br /> instead of having them paid by the City of Redwaod City {Employer�to <br /> CaIPERS. <br />