HomeMy WebLinkAboutORD 83-171 ORDINANCE NO.
ENTITLED AN ORDINANCE PERMITTING BEAUMONT
FIREFIGHTERS WHO ARE MEMBERS OF THE BEAUMONT
FIREMEN' S RELIEF AND RETIREMENT FUND TO
DEFER FEDERAL INCOME TAXES ON THEIR MONTHLY
CONTRIBUTIONS TO THE PENSION FUND FROM THE
TIME CONTRIBUTIONS ARE MADE TO THE LATER
TIME BENEFITS ARE RECEIVED; PROVIDING FOR
SEVERABILITY; AND PROVIDING FOR REPEAL.
WHEREAS, the City Council of the City of Beaumont
recognizes the desirability of enabling its firefighters to defer
payment of a part of their federal income taxes; and,
WHEREAS, the State Firemen' s Relief and Retirement Law was
amended by the 1983 Session of the Texas Legislature in H .B. 1679 to
permit firefighters to defer payment of federal income taxes on their
monthly contributions to the pension fund; and,
WHEREAS, the firefighters elected this income tax deferral
option by a majority of the 236 participating members of the fund,
voting by secret ballot, on October 17, 18 and 19 , 1983. One hundred
forty-one ( 141) voted in favor of income tax deferral and 14 voted
against this change. The 141 voting in favor constitute a majority
of the 236 participating members of the fund; and,
WHEREAS, the Board of Trustees of the pension fund is
seeking an Internal Revenue Service determination that the
firefighter' s pension plan is a qualified retirement plan under
Section 401( a) , Federal Internal Revenue Code, and its related trust
is tax exempt under Section 501( a) , Federal Internal Revenue Code;
1.2 4 e3
NOW, THEREFORE, BE IT ORDAINED BY THE
CITY OF BEAUMONT s
THAT Beaumont firefighters who are members of the Beaumont Firemen' s
Relief and Retirement Fund shall be permitted to defer federal income
taxes under the terms of Section 1OF( a) and Section 1OF(b) of the
State Firemen' s Relief and Retirement Law , as amended, subject to a
favorable determination by the Internal Revenue Service that the
firefighters' pension plan is a qualified retirement plan.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
6th day of December, 1983.
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Mayor -
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