R-04-06 01/23/2006Suggested resolution to include compensation paid under
an Internal Revenue Code Section 125 Plan as IMRF earnings
IMRF Form 6.72 (Rev. 08/03)
PLEASE ENTER Employer IMRF I.D. Number
RESOLUTION
Number –01-1 —Q&/
WHEREAS, standard member earnings reportable to the Illinois Municipal Retirement Fund do not include
compensation paid under an Internal Revenue Code section 125 plan or compensation directed into a premium conversion
plan or flexible spending account; and
WHEREAS, an IMRF participating unit of government may elect to include in IMRF earnings compensation paid under
an I.R.C. section 125 plan or compensation directed into a premium conversion plan or flexible spending account by action of
the governing body; and
WHEREAS, the Village Roard of Trustees of the
BOARD, COUNCIL, etc.
Vi 11 age of Lemont is authorized to include
EMPLOYER NAME
section 125 plan and premium conversion and flexible spending account compensation as earnings reportable to IMRF and it
is desirable that it do so.
NOW THEREFORE BE IT RESOLVED that the Village Board of Trustees of the
BOARD, COUNCIL, etc.
Village of Lemont
EMPLOYER NAME
include as earnings reportable to IMRF compensation paid under an I.R.C. section 125 plan and /or compensation directed
into a premium conversion plan or flexible spending account effective March 1st, 2006
EFFECTIVE DATE
BE IT FURTHER RESOLVED that the Cl erk is authorized and directed
CLERK OR SECRETARY OF THE BOARD
to file a duly certified copy of this resolution with the Illinois Municipal Retirement Fund.
does hereby elect to
CERTIFICATION
Charlene Swollen the
Village Clerk
NAME CLERK OR SECRETARY
of the Village of Lemont of the County of Cook, Will & DuPage
EMPLOYER NAME - COUNTY
State of Illinois, do hereby certify that I am keeper of its books and records and that the foregoing is a true and correct copy of
a resolution duly adopted by its Board of Trustees
and held on the 731-d day of January
SEAL
GOVERNING BODY
at a meeting duly convened
CLERK OR S e
CRETARY OF THE BOARD
Illinois Municipal Retirement Fund
Suite 500, 2211 York Road, Oak Brook Illinois 60523 -2337 www.imrf.org
IMRF Form 6.72 (Rev. 08/03) Service Representatives 800 /ASK -IMRF (1- 800 - 275 -4673)
SECTION PAYROLL ADDITIONAL ADDITIONAL
125 PLAN DEDUCTIONS EMPLOYEES EMPLOYER
CONTRIBUTIONS CONTRIBUTION
PER PAY PERIOD PER PAY PERIOD
VILLAGE INSURANCE $ 1,343.88
H -CAP INSURANCE 211.53
AFLAC INSURANCE 227.80
$ 1,783.21
$ 60.47 $ 125.52
9.52 19.76
21.28
10.25
$ 80.24
$ 2,086.36
(ANNUAL)
$
166.55
$ 4,330.35
(ANNUAL)
The deductions of I.M.R.F. employees, in total, will increase by this amount for each pay period.
These additional amounts will be included to determined participants "defined benefit" pension.
Prepared by JN 1/10/06
SEC 1251MRF i.NCREASE