(a) In accordance with ILCS Ch. 40, Act 5, Section 3-125.2, the Village will pick up employee contributions paid to the Police Pension Fund.
(b) Pursuant to the Illinois Pension Code, the Village shall continue to withhold federal and State income tax based upon these contributions until such time as the Internal Revenue Service or the federal courts rule, pursuant to Section 414(h) of the United States Internal Revenue Code, that these contributions shall not be included as gross income of the police officers involved, until such time as they are distributed or made available.
(Res. 2003-R-01. Passed 2-24-03.)