HomeMy WebLinkAbout1029941ESOLUTION NO.
10,299 •
A RESOLUTION ADOPTING THE EMPLOYEE
MANDATORY CONTRIBUTION PICK -UP PROVISION
IN SECTION 414(H)(2) OF THE INTERNAL REVENUE
CODE FOR THE POLICEMEN'S PENSION AND RELIEF
FUND.
WHEREAS, employees of the Policemen's Pension and Relief Fund make
mandatory contributions to the Pension System on an after tax basis; and
WHEREAS, governmental plans are given the option of using the employee pick-
up provision in Section 414(H)(2) of the Internal Revenue Code; and
WHEREAS, the Policemen's Pension and Relief Fund Board of Trustees passed
a motion supporting employee contribution be made on a pre -tax basis.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. That all eligible employees' mandatory contributions made into the
Policemen's Pension and Relief Fund are considered picked -up by the City of Little
Rock under Section 414(h)(2) of the IRS Code.
ADOPTED: June 16, 1998
ATTEST:
' 1, IN I , ON
1 E .FIA C'1 c
CITY CLERK
APPROVED AS TO FORM:
AS M. ERTEKJ
CITY ATTORNEY
APPROVED:
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