HomeMy WebLinkAbout2016-054 I RESOLUTION NO. 2016-54
2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, ACTING AS THE SUCCESSOR AGENCY TO THE
3 REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, AUTHORIZING
4 EMPLOYER PICK UP OF TAX DEFERRED MEMBER PAID CONTRIBUTIONS
5 WHEREAS, the Mayor and Common Council of the City of San Bernardino acting as the
6 Successor Agency to the Redevelopment Agency of the City of San Bernardino ("Successor
7 Agency") has the authority to implement the provisions of section 414(h)(2) of the Internal Revenue
8 Code (IRC); and
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10 WHEREAS, the Board of Administration of the Public Employees' Retirement System
11 adopted its resolution regarding section 414(h)(2) IRC on September 18, 1985; and
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WHEREAS, the Internal Revenue Service has stated in December 1985, that the
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14 implementation of the provisions of section 414(h)(2) IRC pursuant to the Resolution of the Board
15 of Administration would satisfy the legal requirements of section 414(h)(2) IRC; and
16 WHEREAS, the Successor Agency has determined that even though the implementation of
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the provisions of section 414(h)(2) IRC is not required by law, the tax benefit offered by section
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414(h)(2) IRC should be provided to its employees who are members of the Public Employees'
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20 Retirement System;.
21 NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON
22 COUNCIL OF THE CITY OF SAN BERNARDINO, ACTING AS THE SUCCESSOR
AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN
23 BERNARDINO,AS FOLLOWS:
24 Section 1. That the Successor Agency will implement the provisions of section
25 414(h)(2) Internal Revenue Code by making employee contributions pursuant to California
26 Government Code section 20691 to the Public Employees' Retirement System on behalf of its
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employees who are members of the Public Employees Retirement System. "Employee
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I contributions" shall mean those contributions to the Public Employees' Retirement System which
2 are deducted from the salary of employees and are credited to individual employee's accounts
3 pursuant to California Government Code section 20691.
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5 Section 2. That the contributions made by the Successor Agency to the Public
6 Employees' Retirement System, although designated as employee contributions, are being paid by
7 the Successor Agency in lieu of contributions by the employees who are members of the Public
8 Employees' Retirement System.
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10 Section 3. That employees shall not have the option of choosing to receive the
11 contributed amounts directly instead of having them paid by the Successor Agency to the Public
12 Employees' Retirement System.
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Section 4. That the Successor Agency shall pay to the Public Employees' Retirement
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15 System the contributions designated as employee contributions from the same source of funds as
16 used in paying salary.
17 Section 5. That the amount of the contributions designated as employee contributions
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and paid by the Successor Agency to the Public Employees' Retirement System on behalf of an
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20 employee shall be the entire contribution required of the employee by the Public Employees'
21 Retirement Law(California Government Code sections 20000, et seQ•).
22 Section 6. That the contributions designated as employee contributions made by
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Successor Agency to the Public Employees' Retirement System shall be treated for all purposes,
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other than taxation, in the same way that member contributions are treated by the Public Employees'
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26 Retirement System.
27 Section 7. This Resolution shall take effect upon its adoption and execution in the
28 manner as required by the City Charter.
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1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO, ACTING AS THE SUCCESSOR AGENCY TO THE
2 REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, AUTHORIZING
3 EMPLOYER PICK UP OF TAX DEFERRED MEMBER PAID CONTRIBUTIONS
4 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Successor
5 Agency to the Redevelopment Agency of the City of San Bernardino, at a joint regular meeting
6 thereof, held on the 21St day of March, 2016, by the following vote, to wit:
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Council Members Ayes Nays Abstain Absent
8 MARQUEZ X
9 BARRIOS X
10 VALDIVIA X
11 SHORETT X
12 NICKEL X
13 RICHARD X
14 MULVIHILL X
16 Georgea anna, CMC Vity Clerk
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The foregoing Resolution is hereby approved this day of March, 2016.
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20 R. Carey DaVncy, Chairman
21 Successor A to the Redevelopment Agency
of the City of San Bernardino
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23 Approved as to Form:
24 Gary D. Saenz, City Attorney
25 By: � -z-
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