Laserfiche WebLink
08/28/2017 <br />RESOLUTION NO. 15615 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY CONTINUING EMPLOYER PICK UP OF EMPLOYEE <br />CONTRIBUTIONS TO PENSION UNDER INTERNAL REVENUE CODE <br />414(h)(2) <br />WHEREAS, the City of Redwood City has the authority to implement the <br />provisions of Internal Revenue Code (IRC) section 414(h)(2), whereby employee <br />contributions to the California Public Employees Retirement System (CaIPERS) may <br />picked up by the employer on a pre-tax basis and excluded from an employee's gross <br />income; and <br />WHEREAS, the City adopted Resolution No. 11377 on August 13, 1990, <br />implementing IRC section 414(h)(2) with respect to the statutorily required employee <br />contributions to CaIPERS; and <br />WHEREAS, the City adopted Resolution No. 15136 on August 22, 2011, <br />implementing IRC section 414(h)(2) for cost-sharing contributions made by employees <br />under Government Code section 20516(f), as stipulated by the respective Memoranda <br />of Understanding for each employee group, and by City Council resolution for <br />unrepresented employees; and <br />WHEREAS, the City has since negotiated additional cost-sharing amounts for <br />each employee group under Government Code section 20516(f), as well as additional <br />cost-sharing amounts for certain employee groups under Government Code section <br />20516(a); and <br />WHEREAS, the City wishes to continue implementation of the provisions of IRS <br />section 414(h)(2) for all employee contributions made to CaIPERS, including statutory <br />contributions and cost-sharing contributions under Government Code section 20516, <br />subdivisions (a) and (f), for the amounts designated by City Council resolution or by City <br />Council -approved Memoranda of Understanding. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY AS FOLLOWS: <br />1. The City shall implement the provisions of IRS section 414(h)(2) by <br />making all employee contributions to CaIPERS, including employee contributions under <br />ATTY/RESO.0080/CC RESO IRC 414 PENSION RESO. NO. 15615 <br />REV: 08-21-17 MI MUFF NO. 904 <br />Page 1 of 2 <br />