HomeMy WebLinkAboutResolution No. 2015-C36RESOLUTION NO. 2015-C36
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
FOR COMPENSATED ABSENCES REDUCTION PROGRAM
WHEREAS, employees of the City of Azusa are paid leave bank and floating holiday
hours accrued and not used, including at the time of retirement or resignation; and
WHEREAS, such payments are subject to Social Security taxes and Federal and State
taxes at the supplemental rate; and
WHEREAS, these leave bank payments can be deposited in an IRC Section 401(a)
Special Pay Plan (the Plan) as an employer contribution; and
WHEREAS, the employee groups that have agreed to participate in this plan will do so
effective on or after August 1, 2015; and
WHEREAS, the employee groups not participating as of August 1, 2015 may elect, at a
later date, to participate in the plan; and
NOW, THEREFORE, BE IT RESOLVED that the City Council adopts the
establishment of a Compensated Absences Reduction Program (401(a) Special Pay Plan)
through Envoy Plan Services, Inc., with plan administration provided by Mid America
Administrative and Retirement Plan Solutions, Inc.
RESOLVED FURTHER that a copy of this Resolution shall be provided to Envoy Plan
Services.
PASSED, APPROVED and ADOPTED this 20`h day of July, 2015.
1 12
M
J99eph Mom&o Rocha
ayor
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF AZUSA )
I HEREBY CERTIFY that the foregoing Resolution No. 2015-C36 was duly adopted by the
City Council of the City of Azusa at a regular meeting thereof, held on the 20t day of July, 2015,
by the following vote of Council:
AYES: COUNCILMEMBERS: GONZALES, CARRILLO, MACIAS, ALVAREZ, ROCHA
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
t -
City Clerk
APPROVED AS TO FORM:
A
Best Be & Krieger, L PI
City Attrney