HomeMy WebLinkAbout95-12RESOLUTION NO. 95 -12
Resolution Authorizing the Payment
of Town Employees' Share
of Virginia Retirement Systems
Contributions by the Town
WHEREAS, the Town of Pulaski has been a member of the Virginia Retirement
Systems since 1985; and,
WHEREAS, the Town of Pulaski has a dedicated and hard workinggroup of employees
and the Town Council wishes to recognize their services through the ongoing provision
of compensation in the form of both wages and benefits to the extent that Town
finances are sufficient to do so; and,
WHEREAS, § 51.1-144. F. of the 1950 Code of Virginia, as amended, dealing with
member contributions to the Virginia Retirement Systems, provides that an employer
may elect to pay an equivalent amount in lieu of all member contributions required of its
employees;
NOW, THEREFORE, be it RESOLVED by the Town Council of the Town of Pulaski,
Virginia, sitting in Regular Session on June 20, 1995, that:
1. Pursuit to § 51.1-144. F. of the 1950 Code of Virginia as amended, dealing with
member contributions to the Virginia Retirement Systems, the Town of Pulaski does
hereby elect to pay an equivalent amount in lieu of all member contributions required of
its employees.
2. Such payments shall be credited to the members' contribution account. These
contributions shall not be considered wages for the purposes of Chapter 7, Title 51.1 of
the 1950 Code of Virginia, as amended, nor shall they be considered to be salaries for
purposes of Chapter 1 of said Title.
3. This election shall be effective for all wages paid for services performed on or after
July 1, 1995.
4. The Town Administration has authorized and directed to do all things reasonably
necessary and desirable to implement the provisions of this Resolution.
This Resolution is adopted by duly recorded vote of the Town Council of the Town of
Pulaski, Virginia, on this 20th day of June, 1995 as follows.
John A. Johnston Ave Roy D'Ardenne, Jr. Aye
sent
• John W. Stone AYe W. Edgar Hale
Bettye H. Steger Absent Alma Holston Aye
W. H. Schrader, Jr. Ave Elbert G. Black, Jr. Aye
•
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ATTEST: ~
~~ Lf - -~`Q'a~-
Ruth Harrell
Clerk of Council
By ~~
Andrew L. Graham, Mayor