R-84-11RESOLUTION R -84 -11
A RESOLUTION REGARDING CONTRIBUTIONS TO
THE POLICE PENSION FUND
BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS, as follows:
In the exercise of its home rule powers and in accordance with
Illinois Revised Statutes, Chapter 1082, Section 3- 125.1, the Village
will pick up the contributions now being paid by the employees to the
Police Pension Fund.
Upon receipt of a favorable ruling from the Internal Revenue
Service in regard to IRC Section 414 (h), the Village will exclude
from gross pay these contributions and will withhold Federal and
State income taxes based on the gross pay less the picked.up contri-
butions. This pick up of employee contributions will apply to all
police officers who are members of the Police Pension Fund.
BE IT FURTHER RESOLVED that the Village of Deerfield specifies
the contributions to the Police Pension Fund are paid.in lieu of con -
tributions�by the employee and the employee will not.be given an op-
tion to receive such amounts directly rather than having such amounts
paid by the Village of Deerfield into the Police Pension Fund.
RESOLVED this
AYES: Marovitz,
NAYS: None (0)
ABSENT: Jackson
ATTEST:
20th day of
August
Marty, Seidman, Swanson, York (5)
(1)
APPROVED:
A. D., 1984.