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RESOLUTION NO. 69-82 <br /> A RESOLUTION FOR EMPLOYER PAID (PICKED-UP) <br /> EMPLOYEE CONTRIBUTIONS TO THE POLICE <br /> PENSION FUND AND FIREMEN'S PENSION FUND <br /> WHEREAS , Sections 3-125. 1 and 4-124 . 1 of the Illinois <br /> Pension Code provide, respectively , that the Employer may <br /> _Hake payment of Employee Contributions to both the Police <br /> Pension Fund and the Firemen' s Pension Fund; and <br /> WHEREAS, Sec. 414H. of the Internal Revenue Code provides <br /> that Employer paid (picked-up) Employee contributions are <br /> excluded in taxable gross income until distributed as a refund, <br /> annuity or death benefit; and <br /> WHEREAS, it is desirable that the Employee ' s contribution <br /> to the Police Pension Fund and the Firemen's Pension Fund be <br /> paid by the Employer; <br /> NOW, THEREFORE, BE IT RESOLVED by the President and <br /> Board of Trustees of the Village of Elk Grove Village, Counties <br /> of Cook and DuPage, State of Illinois, as follows : <br /> Section 1: That Employee contributions to the Police <br /> Pension Fund and the Firemen's Pension Fund shall be paid by <br /> the Village of Elk Grove Village on behalf of all the Employees <br /> enrolled in the fund. <br /> Section 2 : That the payment shall be made by reducing <br /> the amount of the gross earnings payable to Employees by the <br /> amount of the contributions and making payment of this amount <br /> directly to the fund. <br /> Section 3 : That this Resolution shall be in full force <br /> and effect from and after its passage and approval according to law <br /> and that the payment of Employee contributions provided shall <br /> be effective for all compensation P paid to Employees beginning <br /> on January 1, 1983 . <br /> PASSED this 23rd day of November , 1982 <br /> APPROVED this 23rd day of oveemmber , 1982. <br /> Vill-Kge Presid k a <br /> ATTEST: <br /> Village Clerk <br />