HomeMy WebLinkAboutRes 39-85 07/02/1985
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RESOLUTION NO'39 85
A RESOLUTION TO APPROVE AND AUTHORIZE A
FLEXIBLE COMPENSATION PLAN FOR EMPLOYEES
OF THE VILLAGE OF MOUNT PROSPECT. ILLINOIS
AND TO DESIGNATE A PLAN ADMINISTRATOR
WHEREAS. pursuant to provisions of the Internal Revenue
Code there has been submitted to this Board a certain cafeteria plan
entitled "Village of'Mount Prospect Flexible Compensation Plan" to
provid~ for payment of ptemiums of Village employees for the Medical
Plan ot the Village of Mount Prospect: and
WHEREAS, said Flexible Compensation Plan (a copy of which
is attached hereto and made a part of this Resolution by reference)
is provided for the purpose of providing a procedure whereby
employee premium payments for the Medical Plan of the Village can be
maðe from compensation not taxable as income to the ~mployees: and
WHEREAS,' said Flexible Compensation Plan is determined to
be in the best interest of this village and a benef~t to its
employees.
NOW, THEREFORE BE IT RESOLVED BY THE MAYOR AND BOARD OF
TRUS.TEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: The "Village of Mount of Prospect Flexible
Compensation Plan" as attached, is hereby approved and the Mayor and
village Clerk of this village are hereby authorized to execute the
same, under the seal of this Village, for the purposes set forth
therein.
SECTION TWO: The Director of Finance of the Village of
Mount Prospect is hereby designated as the Plan Administrator and he
shall perform the powers and duties provided therefor in the
Flexible Compensation Plan.
SECTION THREE: The Flexible Compensation Plan shall take
effect as of July I, 1985. and this Resolution approving the same
shall be in full force and effect upon its passage and approval in
accordance with the law.
?lSS:-:-:D .o-:;d ri?:-'~:OV~D this _2nd.- day of July, 1985.
,~,Y:::S :
Arthur, Farley, Murauskis, Wattenburg
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None
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Floras, Van Geem
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ATTEST:
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VILLAGE CLERK