Admin Order 43-04-01 - Laserfiche WebLink

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NOW, THEREFORE, The City Manager of the City of Eugene orders and directs that: 1. Administrative Order No. 43-01-01 is hereby repealed as of the effective date of this order. This repeal however, does not affect the validity of any elections authorized or taken thereunder by an elected official, which are hereby ratified and affirmed. 2. Effective January 1, 2005, an elected official may elect not to become a member of the OPSRP pension program by giving the Public Employees Retirement Board written notice of that election not later than 30 days after taking office. Such an election will also operate as an election not to become a member of the individual account program, and is irrevocable during the term of office for which the election is made. Once membership in PERS or OPRSP is established, it cannot be discontinued during the elected officials' term of office except upon separation from service. 3. Elected officials choosing to participate in PERS or OPSRP are required to pay the 6% employee contribution required by PERS and OPSRP. All employee contributions made to PERS or OPSRP shall be made through mandatory salary reduction. These mandatory reductions shall be remitted to PERS, as the Administrator for both PERS and OPSRP, by the City of Eugene and shall be treated as employer contributions under Section 414(h)(2) of the Internal Revenue Code. The elected official's reported salary for federal and state income tax purposes shall be reduced by the amount of the contribution made to PERS or OPSRP by the City of Eugene pursuant to this reduction. Dated and effective this ~l{~day of ~, 2004. Dennis M. Tayl~[ City Manager Administrative Order - 2 C:X~Documents and Settings\cepnmldWly Documents~PERS~PERS OPSRP Admin Order 43 04 01.DOC