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HomeMy WebLinkAbout5639 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: ~ f Arcadia cit 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 ,J f Arcadia 5639