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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 eligible employees of the City of Marion Police Department participate in the Ohio Police & Fire Pension Fund;
WHEREAS, the City Council has previously adopted a pick–up of 8.5% of the ten percent (10%) mandatory contributions required to be paid under Section 742.31 of the Ohio Revised Code for participating employees of the City of Marion Police Department who are members of the Ohio Police & Fire Pension Fund;
WHEREAS, Ohio Police & Fire Pension Fund has adopted new procedures for reporting picked–up contributions in order to properly prepare 1099–R forms for its members;
WHEREAS, the City Council wishes to reaffirm, amend and/or restate its prior resolution in order to continue the pick–up under the new procedures;
NOW, THEREFORE, BE IT RESOLVED, that effective as of July 14, 2013, the Marion City Council has determined to pick–up 8.5% of the ten point seven five percent (10.75%) mandatory contributions by the employees who are members of the Ohio Police & Fire Pension Fund by paying the contributions on behalf of the employee. The remaining percentage is to be paid by the employee as taxed contributions.
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, until distributed from the Ohio Police and Fire Pension Fund;
BE IT FURTHER RESOLVED, that said picked up contributions will be included in the gross income of the employees, for employment tax purposes, as the contributions are made to the Ohio Police and Fire Pension Fund; and
BE IT FURTHER RESOLVED, that said employees shall not be entitled to any option of choosing to receive the contributed amounts directly instead of having them paid by the Marion City Council to the Ohio Police and Fire Pension Fund.
Approved: President of Council
Mayor Scott Schertzer
Clerk of Council