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RESOLUTION NO. 2004-22 <br />INTRODUCED BY: Mayor Rinker and Council as a Whole <br />A RESOLUTION <br />AMENDING AND RESTATING THE EXISTING PICK UP CONTRIBUTIONS <br />OF MAYFIELD VILLAGE REGARDING <br />THE OHIO POLICE & FIRE PENSION FUND. <br />WHEREAS, eligible employees of the Mayfield Village Police and Fire <br />Departments participate in the Ohio Police and Fire Pension Fund (OP&F); and <br />WHEREAS, the Council of Mayfield Village has previously adopted a pick <br />up of all ten percent (10%) of the mandatory contributions required under <br />Section 742.31 of the Ohio Revised Code for participating employees of the <br />Police and Fire Departments who are members of the OP&F; and <br />WHEREAS, OP&F has adopted new procedures for reporting picked up <br />contributions in order to prepare 1099-R forms for its members; and <br />WHEREAS, the Mayfield Village Council wishes to reaffirm and amend <br />and restate its prior resolution in order to continue the pick up under the new <br />procedures. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF <br />MAYFIELD VILLAGE, OHIO, THAT: <br />SECTION 1. The Mayfield Village has determined to continue pick up all <br />ten percent (10%) of the mandatory contributions by the employees who are <br />members of the Ohio Police and Fire Pension Fund through a payroll deduction. <br />SECTION 2. The picked up contributions paid through payroll deduction <br />even though designated as employee contributions for state law purposes are <br />being paid by Mayfield Village in lieu of said contributions by the employee. <br />SECTION 3. The picked up contributions will not be included in the gross <br />income of the employee for tax reporting purposes, that is, for federal or state <br />income tax withholding taxes, until distributed from the Ohio Police and Fire <br />Pension Fund. <br />SECTION 4. The picked up contributions will be included in the gross <br />income of the employees, for employment tax purposes, as the contributions are <br />made to the Ohio Police and Fire Pension Fund. <br />SECTION 5. The eligible employees shall not be entitled to any option of <br />choosing to receive the contributed amounts directly instead of having them paid <br />. by Mayfield Village to the Ohio Police and Fire Pension Fund.