|Original Document: |
Text of Document: RESOLUTION NO.
WHEREAS , the Town of Pittman Center provides employees with certain benefits, including partially funded health insurance, and;
A RESOLUTION OF THE TOWN OF PITTMAN CENTER, TENNESSEE
AUTHORIZING THE ESTABLISHMENT OF A SECTION 125 CAFETERIA PLAN FOR EMPLOYEES
WHEREAS, each employee must contribute to this plan, and;
WHEREAS , employee spending on health care and related services can be significant, and;
WHEREAS , Section 125 of the Federal Revenue Act of 1978 authorizes the establishment of Section 125 Cafeteria Plans for public sector employees, and;
WHEREAS , such a plan allows employees to pay for certain eligible expenses on a pre- tax basis, thereby saving both the employee and the Town of Pittman Center the cost of certain taxes, including payroll taxes.
NOW, THEREFORE be it resolved by the Board of Mayor and Aldermen of the Town of Pittman Center that the Town is hereby authorized to establish and implement a "Section 125 Cafeteria Plan" for its employees, in accordance with provisions of Section 125 of the Revenue Act of 1978.
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Mayor/Date City Recorder/Date