Laserfiche WebLink
RESOLUTION NO. R2024- 3(�r1 <br /> RESOLUTION AUTHORIZING AGREEMENT TO INCLUDE COMPENSATION <br /> PAID UNDER AN INTERNAL REVENUE CODE SECTION 125 PLAN <br /> AS IMRF EARNINGS <br /> WHEREAS, standard member earnings reportable to the Illinois Municipal Retirement Fund <br /> ("IMRF") do not include compensation paid under an Internal Revenue Code section 125 plan or <br /> compensation directed into a premium conversion plan or flexible spending account; and, <br /> WHEREAS, an IMRF participating unit of government may elect to include in IMRF earnings <br /> compensation paid under an Internal Revenue Code section 125 plan or compensation directed into a <br /> premium conversion plan or flexible spending account by action of the governing body; and, <br /> WHEREAS, the City Council of the City of Decatur is authorized to include section 125 plan <br /> and premium conversion and flexible spending account compensation as earnings reportable to IMRF <br /> and it is desirable that it do so. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF DECATUR,ILLINOIS: <br /> Section 1. That the City Council of the City of Decatur does hereby elect to include as earnings <br /> reportable to IMRF compensation paid under an Internal Revenue Code section 125 plan and/or <br /> compensation directed into a premium conversion plan or flexible spending account effective January <br /> 1, 2025. <br /> Section 2. That the City Clerk is authorized and directed to file a duly certified copy of this <br /> resolution with the Illinois Municipal Retirement Fund. <br /> PRESENTED AND ADOPTED THIS 16th day of December 2024. <br /> aluvwlf G� <br /> Julie Moore Wolfe, Mayor <br /> ATTES . <br /> Q �� <br /> KOXIthoff, City Clerk <br />