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6.3. B. - Page 4 <br /> ATTACHMENT1 <br /> RESOLUTION NO. <br /> RESOLUTION IMPLEMENTING SECTION 414 (h)(2) OF THE <br /> INTERNAL REVENUE CODE <br /> WHEREAS, the City of Redwood City has the authority to implement the <br /> provisions of Section 414(h)(2) of the Internal Revenue Code (IRC); and <br /> WHEREAS, the City of Redwood City adopted a Resolution implementing <br /> Section 414(h)(2) of the Internal Revenue Code with respect to statutorily required <br /> employee contributions on August 14, 1990; and <br /> WHEREAS, the City of Redwood City elected to pay the CaIPERS contribution <br /> (seven percent [7%] of the eight percent [8%] normal contributions) on behalf of <br /> miscellaneous members of the Redwood City Management Employees Association and <br /> the Executive Management Employees; and <br /> WHEREAS, the City of Redwood City elected to pay the CaIPERS contribution <br /> (seven percent [7%] of the nine percent [9%] normal contributions) on behalf of safety <br /> members of the Executive Management Employees and the Chief Officers Association; <br /> and <br /> WHEREAS, the City of Redwood City elected to pay the CaIPERS contribution <br /> (zero [0%] of the eight percent [8%] normal contributions) on behalf of miscellaneous <br /> members of the Service Employees International Union (SEIU) Local 521; and <br /> WHEREAS, the City of Redwood City elected to pay the CaIPERS contribution <br /> (zero percent [0%] of the nine percent [9%] normal contributions) on behalf of safety <br /> members of the Redwood City Police Officers Association, and the Redwood City Police <br /> Sergeants Association; and <br /> WHEREAS, the City has entered labor agreements with represented and <br /> unrepresented employees which require the employees to cost share pension <br /> obligations by contributing a percentage toward the employer cost of retirement; and <br /> WHEREAS, it is in the interests of all parties for such employee contributions <br /> toward the employer cost of retirement to be made on a pre-tax basis in accordance with <br /> Section 414(h)(2) of the IRC; and <br /> ATTY/RES0.2149/ IMPLEMENTING SECTION 414(H) (2) OF THE INTERNAL REVENUE CODE <br /> 081711 <br /> 1 <br />