HomeMy WebLinkAboutCouncil Agenda StatementCITY OF NATIONAL CITY, CALIFORNIA
COUNCIL AGENDA STATEMENT
MEETING DATE: March 15, 2011
AGENDA ITEM NO.
ITEM TITLE:
Resolution of the City Council of the City of National City Approving Pre -Tax Payroll Deduction Plan
for Service Credit Purchases (CaIPERS)
PREPARED BY: Lilia Munoz
PHONE: 336-4309
EXPLANATION:
DEPARTMENT: H
APPROVED BY:
sourc
This benefit will allow CaIPERS miscellaneous and safety members to purchase service credit on a pre-
tax basis through payroll deduction, as allowed by the IRS. In 2004, a resolution was approved by the
City Council for this same benefit; however CaIPERS was not notified. Therefore, in order to add the
pre-tax service credit purchase benefit to our plan, we need to re -submit for approval.
FINANCIAL STATEMENT:
ACCOUNT NO.
There is no cost to the City.
ENVIRONMENTAL REVIEW:
N/A
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
APPROVED:
APPROVED:
Finance
MIS
STAFF RECOMMENDATION:
Recommend approval of Resolution.
BOARD / COMMISSION RECOMMENDATION:
NIA
ATTACHMENTS:
Resolution