R-694 - 07/08/1997 - IMRF - Resolutions RESOLUTION 974MRF-R-594
A RESOLUTION TO INCLUDE COMPENSATION PAID
UNDER AN INTERNAL REVENUE CODE
SECTION 125 PLAN AS IMRF EARNINGS
WHEREAS,the Village Board adopted an Internal Revenue Code Section 125 flexible benefit plan
on Julv 8, 1997.and
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 Oak Brook 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 Village President and Board of Trustees of the
Village of Oak Brook. Illinois that the Village of Oak Brook 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 September 1, 1997.
BE IT FURTHER RESOLVED that the Village Cs•°-k is authorized and directed to file a duly
certified copy of this resolution with the Illinois Municipal Retirement Fund.
PASSED AND APPROVED this 8th day of July. 1997,by the President and Board of
Trustees of the Village of Oak Brook, DuPage and Cook Counties. Illinois.according to a roll call vote as
follows:
Ayes: Trustees Bartecki, Caleel, Kenny, Savino _and Shumate
Nays: Trustee McInerney
Absent: None
Abstain: None
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ATTEST: p
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