R-338 - 12/14/1982 - BOARD - Resolutions mr ------ BeAR03 •
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RESOLUTION NO. R- 338
A RESOLUTION AUTHORIZING THE VILLAGE OF OAK BROOK TO
PICK UP EMPLOYEE CONTRIBUTIONS RE$UIRED BY THE
ILLINOIS PENSION CODE FOR THE POLICEMEN'S PENSION
FUND AND THE FIREMEN'S PENSION FUND
WHEREAS, certain amendments to the Illinois Pension Code made
pursuant to Public Act 81-1536 authorize an employer such as the
Village of Oak Brook to pick up contributions required for the Police-
men's Pension Fund and Firemen's Pension Fund; and
WHEREAS, said enactment, codified respectively as Sections 3-125.1
and 4-124.1 of the Illinois Pension Code further provide that such contribu-
tions picked up shall be treated as employer contributions for tax purposes
under the Internal Revenue Code, Section 414 (h); and
WHEREAS, the Policemen's Pension Fund and the Firemen's Pension
Fund have requested that the Village implement and authorize the employer
pick up program authorized pursuant to Sections 3-125.1 and 4-124.1
respectively of the Illinois Pension Code; and
WHEREAS, the Village has requested a ruling from the Internal
Revenue Service that these picked up contributions shall not be included
as gross income of the policemen and firemen until such time as they are
distributed or made available pursuant to Section 414 (h) of the United
States Internal Revenue Code;
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS,
as follows:
Section 1: That in accordance with Section 3-125.1 of the
Illinois Pension Code, Chapter 1081 of the Illinois Revised Statutes,
the Village of Oak Brook will pick up employee contributions paid to
the Policemen's Pension Fund.
Section 2: That in accordance with Section 4-124.1 of the
Illinois Pension Code, Chapter 1081 of the Illinois Revised Statutes,
the Village of Oak Brook will pick up employee contributions paid to
the Firemen's Pension Fund.
Section 3: That pursuant to the Illinois Pension Code the Village
shall continue to withhold federal and state income tax based upon these
contributions until the Internal Revenue Service or the federal courts
rule that pursuant to Section 414 (h) of the United States Internal Revenue
Code that these contributions shall not be included as gross income of
the policemen and firemen involved until such time as they are distributed
or made available.
•
BE IT FURTHER RESOLVED, that upon receipt of a favorable ruling
in regard to Section 414 (h) from the Internal Revenue Service by the
Village, the Village will as soon as practicable exclude these pension
contributions from the gross pay of the policemen and firemen involved
and will withhold federal and state income taxes on the gross pay less
the said contributions.
BE IT FURTHER RESOLVED, that this pick up of contributions
authorized pursuant to this resolution shall apply to all policemen and
firemen that are now or hereafter members of the Policemen's Pension
Fund or Firemen's Pension Fund, respectively, of the Village of Oak
Brook.
0 4110
.,, R--33s, ,
Resolution R- 31g
Authorizing Pick Up of Employee
ii Contributions required by the
Illinois Pension Code for Policemen'
and Firemen's Pension Fund
Page 2
PASSED AND APPROVED this V11-1 day of sAA , 1382 by
the President and Board of Trustees of the Village of Oak rook, Du Page
and Cook Counties, Illinois according to a roll call vote as follows:
AYES: Trustee Congreve, Lurie, Listecki Phili., Rush, Watson, Jr.
NAYS: None
ABSENT: None
A/17
ATTEST:
4
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