HomeMy WebLinkAboutCouncil Resolution 919RESOLUTION NO. ~ 1
A RESOLUTION ADOPTING A PREMIUM CONVERSION BENEFIT PLAN
FOR CITY EMPLOYEES
WHEREAS, the City of Central Point finds and determines that it is in the interest of the
public, the City and the City employees that the City offer an Internal Revenue Code Section 125
Premium Conversion Benefit Plan to its employees; and
WHEREAS, the Premium Conversion Benefit Plan ("the Plan") provides the option for
employees to set aside a portion of their salary to cover health insurance premiums. This plan is
voluntary and employees do not have to participate. However, if an employees elects to participate,
then a specific amount ofhis/her salary will be deducted on a pre-tax, rather than anafter-tax, basis;
and
WHEREAS, the Plan as set forth will allow employees and the City to establish a partnership
to share responsibility for health care costs and to pursue further means of moderating health
insurance premium increases.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Central Point
does hereby adopt an Employee Premium Conversion Benefit Plan for the purposes stated. herein.
Passed and adopted by the Council and signed by me in authentication of its passage this 12`h day
of July, 2001.
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Mayor Bili Walton
ATTEST:
City Representative
APPR®VED by me this ,~~day of July, 2001.
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yor Bill Walton