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EXISTING PICK–UP PLAN
RESTATED RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MARION OHIO
The City Council of City of Marion, Marion County, Ohio met at a duly called and authorized meeting of the City Council on the date set forth below, such meeting being duly called pursuant to a notice stating the time, place and purpose of the meeting received by all Council members, and the following resolutions were made, seconded, and adopted by those present at the meeting.
WHEREAS, the Communication Officers and Community Service Technicians of the City of Marion participate in the Ohio Public Employees Retirement
WHEREAS, the City Council has previously adopted a pick–up of 5% of the ten percent (10%) mandatory contributions pursuant to IRC Section 414(h)(2) for the Communication Officers and Community Service Technicians who are members of the Ohio Public Employees Retirement.
WHEREAS, the City Council wishes to reaffirm, amend and/or restate its prior resolution in order to continue the pick–up under new procedures;
NOW, THEREFORE, BE IT RESOLVED, that effective as of January 1, 2013, the Marion City Council has determined to pick–up 4% of the ten percent (10%) mandatory contributions for the Communication Officers and Community Service Technicians who are members of the Ohio Public Employees Retirement by paying the contributions on behalf of the employee.
BE IT FURTHER RESOLVED, that said picked up contributions paid by the employer, even though designated as employee contributions for state law purposes, are being paid by the Marion City Council in lieu of said contributions by the employee;
BE IT FURTHER RESOLVED, that said picked up contributions will not be
included in the gross income of the employees for tax reporting purposes, that is,
for federal or state income tax withholding taxes.
BE IT FURTHER RESOLVED, that said employees do not have the option to receive the contributions directly. All contributions are paid by the employer directly to the plan.
Dated this ___________ day of _____________________, 20______.
Approved: President of Council
Mayor Scott Schertzer
Clerk of Council