City of South Bend to Provide some Pension Relief to City Employees, Including Members of Police Officers & Firefighters' Pension & Disability Funds

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RESOLUTION NO. tip Z` ° 1 A RESOLUTION OF THE CITY OF SOUTH BEND TO PROVIDE SOME PENSION RELIEF TO CITY EMPLOYEES, INCLUDING MEMBERS OF THE POLICE OFFICERS AND FIREFIGHTERS' PENSION AND DISABILITY FUNDS WHEREAS, in 1977 the State of Indiana established the 1977 Police Officers and Firefighters Pension and Disability Fund and all South Bend firefighters and police officers hired since that date participate in and are members of such 1977 fund in addition to some South Bend firefighters and police officers hired prior to 1977 who elected to convert to the 1977 fund; and WHEREAS, those South Bend firefighters hired before 1977 who did not convert to the 1977 Fund are members of the 1937 Firefighters' Pension Fund and those South Bend police officers hired before 1977 who did not convert to the 1977 fund are members of the 1925 Police Pension fund; and WHEREAS, Section 444(h)(2) of the Internal Revenue Code allows a municipality to pick up the mandatory contributions by 1977 Fund members, 1937 Fund members and 1925 Fund members. NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follow: Effective December 18, 1999, mandatory contributions to either the 1977 Fund, the 1937 Fund, or the 1925 Fund by the employees who are members of any of these funds, will not be included in the gross income for such employees, for reporting purposes (except the Medicare portion of FICA), that is for federal, state or local income tax, withholding taxes, until distributed from the 1977 Fund, the 1937 Fund, or the 1925 Fund. 2. Employees subject to this Resolution shall not have the option to receive the contributed amounts directly instead of having them paid by the City of South Bend to the 1977 Fund, the 1937 Fund or the 1925 Fund. 3. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. Dated this I3 day of 0tCC ,' - , 1999. Member of the Common Council PRESENTED NOT APPROVED ADOPTED Filed In Clark's O>fflee DEC 1.3 1999 CITY CLERK, SC. BEND,14,.