78-188RESOLUTION N0. 78R-- 188
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
.~~ OF ANAHEIM URGING ..INTERNAL REVENUE SERVICE TO
NOT MAKE FINAL ITS FEBRUARY 3,'1977, REGULATIONS
ON THE DEFERRED COMPENSATION PLANS AND URGING
CONGRESS TO ENACT LEGISLATION TO PROHIBIT TAXA-
TION OF DEFERRED COMPENSATION PLAN5 AS CURRENT
INCOME.
WHEREAS, thirty .states and hundreds of local governments
offer deferred compensation plans for their employees; and
WHEREAS, these-plans provide an important element of
retirement security for their members, most of whom are persons
of moderate means; and
WHEREAS,. the principle of deferred compensation hasp
been accepted in federal law and practice for many years; and
WHEREAS, on February. 3, 1977, the Internal Revenue
Service issued proposed regulations which would have the effect •.~~
of destroying public deferred compensation plans by taxing de-
ferred amounts as current income.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Anaheim that the City of Anaheim urges the Internal
Revenue Service to not make final its February 3, 1977, regula-
tions on deferred compensation plans.
BE IT FURTHER RESOLVED that Congress enact legislation
to specifically prohibit the taxation of amounts deferred by
participants in public employee deferred compensation plans ~.s
current income and to give these plans a solid statutory base.
THE FOREGOING RESOLUTION is approved and
the City Council of the Gity of Anaheim this 28th
a. h , 1978.
ATTEST:
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C ,~ K THE ~~~°A HEIR
FAL:sjf
adopted by
day of
STATE -0F CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, City-Clerk of_the City of Anaheim, do hereby certify that
the foregoing Itesoiution No. 78R-188 was introduced. and adopted at a regular
meeting provided by law, of the City Council of the City of Anaheim held on
the 28th day of March, 1978, by_the following vote of the members thereof:
AYES: COUNCIL MEMBERS: Kaywood, Seymour, Kott, Roth and Thom
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said
Resolution No. 78R-188 on the 28th day of March,-1978,
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the-seal of the
City of Anaheim this 2$th day ,of March, 1978.
CITY C ERK OF THE C TY OF ANAHEIM
(SEAL)
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the .foregoing is the original of Resolution No. 78R-188 duly passed and adopted
by the Anaheim City Council on March 28, 1978.
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CITY CLERK