HomeMy WebLinkAboutRESOLUTION - 40-82 - 7/27/1982 - IMRF/EMPLOYER PICK UPRESOLUTION NO. 40-82
A RESOLUTION FOR EMPLOYER PAID (PICK-UP) EMPLOYEE
CONTRIBUTIONS TO THE ILLINOIS MUNICIPAL RETIREMENT
FUND
WHEREAS, Section 7-173.2 of the Illinois Pension Code permits employers
to make payment of employee contributions to the Illinois Municipal Retire-
ment Fund; and
WHEREAS, Section 414(h) of the Internal Revenue Code provides that
employer paid (picked -up) employee contributions are excluded in taxable
gross income until distributed as a refund, annuity or death benefit; and
WHEREAS, it is desirable that the employees contributions to the
Illinois Municipal Retirement Fund be paid by the employer.
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois:
SECTION 1: That employee contributions to the Illinois Municipal
Retirement Fund shall be paid by the Village of Elk Grove Village on behalf
of all of the employees enrolled in the Fund.
SECTION 2: That the payment shall be made by reducing the amount of
the gross earnings payable to employees by the amount of the contributions
and making payment of this amount directly to the Fund.
SECTION 3: That this Resolution shall be in full force and effect
from and after its passage and approval according to law and that the
payment of employee contributions provided shall be effective for all com-
pensation paid to employees beginning with September, 1982.
PASSED this 27th day of
APPROVED this 27th day of
(\\/�ATTTTT EEJSSTgT :'� �!/AGI
Vi I lage' CIe k