R-35-97 Authorizing Mandatory Employee Contributions To The Police Pension FundRESOLUTION NO. -2)5--41-
7
A RESOLUTION AUTHORIZING MANDATORY EMPLOYEE
CONTRIBUTIONS TO THE POLICE PENSION FUND
WHEREAS, pursuant to Chapter 40 of the Illinois Compiled Statutes Section 5/3 -101, the
Village of Lemont has established, respectively, a Police Pension Fund for the benefit of its
policemen; and
WHEREAS, Section 5/3 -125.1 of Chapter 40 of the Illinois Compiled Statutes provides
that the statutory percentages be withheld from a policeman's salary and paid to their respective
pension funds; and
WHEREAS, Section 5/3 -125.2 of the Illinois Compiled Statutes entitled "Pick Up Of
Contributions" provides that if the mandatory employee contributions are picked -up by the
employer, they shall be treated in the same manner and to the same extent as employee
contributions.
THEREFORE, BE IT RESOLVED by the President and Board of Trustees of the Village
of Lemont, Counties of Cook, Will and DuPage, Illinois that pursuant to Section 5/3 -125.2 of
the Chapter 40 of the Illinois Compiled Statutes entitled "Pick Up Of Contributions ", the Village
of Lemont hereby designates police officer's pension contributions as "employer paid"
contributions for the purpose of the Internal Revenue Code Section 414(h) and declare said
contributions as mandatory whereby the employee does not have the option of choosing to receive
the contributed amount directly.
Approved by me this / 7 day of , 1997.
ATTEST:
CHARLENE SMOLLEN, Village Clerk
B: \VILLAGE \EMPLOYEE. RES
illage President