HomeMy WebLinkAboutRes 30-83 07/05/1983
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RESOLUTION NO.
30-83
A RESOLUTION PERTAINING TO INCOME TAX WITHHOLDING
FOR MEMBERS OF THE MOUNT PROSPECT POLICE PENSION FUND
WHEREAS, Section 414 (h) of the Internal Revenue Code
provides that employer paid employee contributions are
excluded in taxable gross income until distributed as a
refund, annuity Qr death benefits; and'
WHEREAS, it is desireable that the employees' contributions
to the Mount Prospect, Illinois, Police Pension Fund be
paid by,the employer.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR'AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY,
ILLINOIS:
SECTION ONE: That the Mayor and Board of Trustees of the
Village of Mount Prospect hereby authorize and direct that
employee contributions to the Mount Prospect Police Pension
Fund shall be paid by the Village of Mount Prospect on
behalf of all the employees enrolled in said Fund.
SECTION TWO: That payment of employee contributions provided
in SECTION ONE hereinabove shall be effective for all
eligible compensation paid to employees beginning with
July, 1983.
SECTION THREE: That this Resolution shall be in full force
and effect from and after its passage and approval in the
manner provided by law.
AYES' :
Farley, Floras, Murauskis, Van Geem, Wattenberg
NAYS:
None
ABSENT
Arthur
PASSED fnd APPROVED this
5th day of
July
,1983.
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Mayo1
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ATTEST:
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Village Clerk