HomeMy WebLinkAboutRESOLUTION - 19-02 - 3/26/2002 - COMPENSATION PAIDRESOLUTION NO. 19-02
A RESOLUTION TO INCLUDE COMPENSATION PAID UNDER AN INTERNAL
REVENUE CODE SECTION 125 PLAN AS IMRF EARNINGS
WHEREAS, standard member earnings reportable to the Illinois
Municipal Retirement Fund (IMRF) do not include compensation paid
under an Internal Revenue Code section 125 plan or compensation
directed into a premium conversion plan or flexible spending account;
and
WHEREAS, an IMRF participating unit of government may elect to
include in IMRF earnings compensation paid under an I.R.C. section
125 plan or compensation directed into a premium conversion plan or
flexible spending account by action of the governing body; and
WHEREAS, the Mayor and Board of Trusees of the Village of Elk
Grove Village is authorized to include section 125 plan and premium
conversion and flexible spending account compensation as earnings
reportable to IMRF and it is desirable that it do so.
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Board of
Trustees of the Village of Elk Grove Village, Counties of Cook and
DuPage, Illinois:
Section 1: That the Mayor and Board of Trustees of the Village
of Elk Grove Village does hereby elect to include as earnings
reportable to IMRF compensation paid under an I.R.C. section 125 plan
and/or compensation directed into a premium conversation plan or
flexible spending account effective April 29, 2002.
Section 2: That the Village Clerk is authorized and directed to
file a duly certified copy of this resolution with the Illinois
Municipal Retirement Fund.
Section 3: That this Resolution shall be in full force and
effect from and after its passage and approval according to law.
VOTE: AYES. 6 NAYS: 0 ABSENT: 0
PASSED this 26T8 day of March, 2002.
APPROVED this 26t' day of March, 2002.
ATTEST:
Ann I. Walsh, Village Clerk
Craig B. Johnson, Mayor
ResIMRFcompensation.doc