HomeMy WebLinkAbout1991-11-12 - Resolution No. 91-31RESOLUTION NO. 91-31
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
RELATING TO THE PROVISION OF A QUALIFYING
RETIREMENT SYSTEM FOR ALL EMPLOYEES NOT
CURRENTLY ELIGIBLE FOR PERS
WHEREAS, in November 1990 the Omnibus Budget Reconciliation Act (OBRA) was signed into
law by the President of the Unites States; and
WHEREAS, OBRA requires the Yorba Linda Water District (District) to provide a qualifying
retirement system to all employees not currently eligible for membership in the
Public Employees Retirement System (PERS); and,
WHEREAS, the District's Part-time, Seasonal and Temporary employees are not eligible for
PERS membership; and,
WHEREAS, it is the intent of the District to adopt such a qualifying system as an alternative to the
Social Security system for employees not currently covered under the PERS system;
and,
WHEREAS, final regulations regarding the formulation, qualification and implementation of such
alternative plans have not been issued, and proposed regulations are unclear and
subject to change.
NOW THEREFORE BE IT RESOLVED that the Board of Directors of the Yorba Linda Water
District does hereby resolve, determine and order as follows:
Section 1: The Yorba Linda Water District does hereby intend to adopt such a qualifying
system effective January 1, 1992 for the benefit of employees employed on that
date and hired thereafter.
Section 2: The qualifying retirement system adopted and implemented by the Yorba Linda
Water District will be in accordance with the final regulations for Section
3121(b)(7)(F) of the Internal Revenue Code when issued by the Internal
Revenue Service.
PASSED AND ADOPTED this 12th day of November, 1991 by the following called vote:
AYES:4 Paul Armstrong, Arthur C. Korn, Sterling Fox, Carl Scanlin
NOES: 0
ABSENT: 1
ABSTAIN: 0
v± c e -president
Yorba Linda Water District
Yorba Linda water vistnct