Number
110201
Version
SUBSTITUTE 1
Reference
091068
Sponsor
ALD. MURPHY
Title
A substitute charter ordinance relating to pre-tax pension deductions for employes of city agencies.
Sections
36-08-7-o am
Analysis
This charter ordinance provides that, for employes participating in the employes’ retirement system, certain member contributions funded by city agencies shall be treated as pre-tax salary deductions and implemented pursuant to the provisions of Internal Revenue Code Section 414(h)(2).
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 36-08-7-o of the city charter is amended to read:
36-08. Method of Financing.
7. MEMBER CONTRIBUTIONS
o. Pre-Tax Deduction. All member contributions made under pars. a, b, and c, except the policemen's $1 contribution, shall be implemented pursuant to the provisions of Internal Revenue Code Section 414(h)(2) by means of direct payment by the city >>or city agency<< to the combined fund. The city >>or city agency<< shall fund the cost of member contributions under par. a-2 by means of a pre-tax salary deduction from the salary of employes on whose behalf such payments are made. Members shall not have the option of choosing to receive the contributed amounts directly instead of having them paid to the combined fund.
Part 2. This is a charter ordinance and shall take effect 60 days after its passage and publication, unless within such 60 days a referendum petition is filed as provided in s. 66.0101(5), Wis. Stats., in which event this ordinance shall not take effect until submitted to a referendum and approved by a majority of the electors voting thereon.
LRB
APPROVED AS TO FORM
____________________________
Legislative Reference Bureau
Date: ______________________
Attorney
IT IS OUR OPINION THAT THE ORDINANCE
IS LEGAL AND ENFORCEABLE
____________________________
Office of the City Attorney
Date: ______________________
Requestor
Drafter
LRB12...
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