Reso 2005-704RESOLUTION NO. 2005 -704
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
COSTA MESA SANITARY DISTRICT ESTABLISHING THE
EMPLOYER PICK -UP FOR THE PUBLIC EMPLOYEES'
RETIREMENT SYSTEM
WHEREAS, the Costa Mesa Sanitary District has the authority to
implement the provisions of section 414(h)(2) of the Internal Revenue Code
(IRC); and
WHEREAS, the Board of Administration of the Public Employees'
Retirement System adopted its resolution re section 414(h)(2) IRC on September
18, 1985; and
WHEREAS, the Internal Revenue Service has stated in December 1985,
that the implementation of the provisions of section 414(h)(2) IRC pursuant to the
Resolution of the Board of Administration would satisfy the legal requirements of
section 414(h)(2) IRC; and
WHEREAS, the Costa Mesa Sanitary District has determined that even
though the implementation of the provisions of section 414(h)(2) IRC is not
required by law, the tax benefit offered by section 414(h)(2) IRC should be
provided to its employees who are members of the Public Employees'
Retirement System:
NOW, THEREFORE, BE IT RESOLVED:
That the Costa Mesa Sanitary District will implement the provisions of
section 414(h)(2) Internal Revenue Code by making employee
contributions pursuant to California Government Code section 20691 to
the Public Employees' Retirement System on behalf of its employees who
are members of the Public Employees Retirement System. "Employee
contributions" shall mean those contributions to the Public Employees'
Retirement System which are deducted from the salary of employees and
are credited to individual employee's accounts pursuant to California
Government Code section 20691.
II. That the contributions made by the Costa Mesa Sanitary District to the
Public Employees' Retirement System, although designated as
employee contributions, are being paid by the Costa Mesa Sanitary
District in lieu of contributions by the employees who are members of
the Public Employees' Retirement System.
III. That employees shall not have the option of choosing to receive the
contributed amounts directly instead of having them paid by the Costa
Mesa Sanitary District to the Public Employees' Retirement System.
IV. That the Costa Mesa Sanitary District shall pay to the Public Employees'
Retirement System the contributions designated as employee
contributions from the same source of funds as used in paying salary.
V. That the amount of the contributions designated as employee
contributions and paid by the Costa Mesa Sanitary District to the Public
Employees' Retirement System on behalf of an employee shall be the
entire contribution required of the employee by the Public Employees'
Retirement Law (California Government Code sections 20000, et seq.).
VI. That the contributions designated as employee contributions made by
Costa Mesa Sanitary District to the Public Employees' Retirement System
shall be treated for all purposes, other than taxation, in the same way that
member contributions are treated by the Public Employees' Retirement
System.
PASSED and ADOPTED on this � day of March 2005.
Secretary', Costae Mesa Sanitary D
Board of Di re 'ors
ct sident, Costa M a Sanitary District
i'- r Board of Directors
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) SS
CITY OF COSTA MESA )
I, Joan Revak, Clerk of the Costa Mesa Sanitary District, hereby certify that
the above and foregoing Resolution No. 2005 -704 duly and regularly passed and
adopted by said Board of Directors at a regular meeting thereof held on the
day of 'Yh&a,L , 2005
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal
of the Costa Mesa Sanitary District, this i day of 2005.
fJ zvk
Clerk of th ,`o�ta-M 'esa Sanitary District