R-92-10� � r
RESOLUTION NO. R -92 -10
RESOLUTION TO INCLUDE COMPENSATION PAID UNDER AN
INTERNAL REVENUE CODE SECTION 125 PLAN AS IMRF EARNINGS
WHEREAS, standard member earnings reportable to the Illinois Municipal
Retirement Fund do not include compensation paid under an Internal Revenue Code
section 125 plan or compensation directed into a premium conversion plan or
flexible spending account; and
WHEREAS, an IMRF participating unit of government may elect to include in
IMRF earnings compensation paid under an I.R.C. section 125 plan or compensation
directed into a premium conversion plan or flexible spending account by action
of the governing body; and
WHEREAS, the Board of Trustees of the Village of Deerfield is authorized
to include section 125 plan and premium conversion and flexible spending account
compensation as earnings reportable to IMRF, and it is desirable that it do so;
NOW THEREFORE BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF DEERFIELD, LAKE AND COOK COUNTY, ILLINOIS, AS FOLLOWS:
SECTION ONE: That the Board of Trustees of the Village of Deerfield does
hereby elect to include as earnings reportable to IMRF
compensation paid under an I.R.C. section 125 plan and /or
compensation directed into a premium conversion plan or
flexible spending account effective 9/1/92
SECTION TWO: Be it further resolved that the Village Clerk is authorized
and directed to file a duly certified copy,of this resolution
with the Illinois Municipal Retirement Fund.
AYES: Ehlers, Marovitz, Rosenthal, Seidman; Swanson, Swartz (6)
NAYS: None (0)
ABSENT: None (0)
PASSED this 3rd day of August , A.D., 1992
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