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RESOLUTION NO. 5639
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA, APPROVING THE CITY'S INTENT TO ADOPT
AN ALTERNATE RETIREMENT PLAN
WHEREAS, the Omnibus Budget Reconciliation Act of 1990
requires that cities collect and pay FICA taxes for part-time,
seasonal and temporary employees and other City employees or
elected officials not covered by a retirement system, and that this
requirement may be met by adoption of a resolution of intent to
establish an alternate retirement plan;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1.
That the City of Arcadia intends to adopt an
IRC 457 (b) Plan as an alternate retirement system. This
resolution is an affirmative action toward such adoption.
SECTION 2.
That City staff is hereby directed to obtain
authorization from applicable employees in order to withhold the
required contributions to the alternate retirement plan.
SECTION 3.
That the effective date of this resolution is
the first pay period in calendar year 1992.
SECTION 4.
That the City Clerk shall certify to the
adoption of this Resolution.
Passed, approved and adopted
this 17th of D.~~
~ city of Arcadia
Attest:
~
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5639
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF ARCADIA
)
) SS:
)
I, JUNE D. ALFORD, City Clerk of the City of Arcadia, hereby
certify that the foregoing Resolution No. 5639 was passed and
adopted by the City Council of the city of Arcadia, signed by the
Mayor and attested by the City Clerk at a regular meeting of said
Council held on the 17th of December, 1991 and that said Resolution
was adopted by the following vote, to wit:
AYES: Councilmember CirauLo, Fasching, Harbicht, Young and Gilb
NOES: None
ABSENT: None
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5639