94-37 v RESOLUTION NO. 94-37
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,
FLORIDA, PROVIDING FOR THE ESTABLISHMENT OF A
CAFETERIA PLAN FOR EMPLOYEE CONTRIBUTIONS TO
THE CITY'S PENSION PLAN
WHEREAS, the City of Atlantic Beach has an interest in the
future retirement of its employees and wishes to improve the
retirement system whenever feasible; and
WHEREAS, the Pension Board of Trustees has solicited and
reviewed the cost calculations of a "Cafeteria Plan" to allow pre-
tax contributions to purchase pension benefits; and
WHEREAS, the City Commission has expressed an interest in
establishing a "Cafeteria Plan" for the benefit of the employees.
NOW, THEREFORE, BE IT RESOLVED that the Atlantic Beach City
Commission endorses the "Cafeteria Plan" and hereby authorizes
funding to be provided in the city's operating budget for FY
1994/95 to establish a cafeteria plan to provide for pre-tax
deductions for employee contributions to the pension plan.
Adopted by the. City Commission of the City of Atlantic Beach,
Florida, this day of , 1994.
Lyman T. Fletcher
Mayor/Presiding Officer
ATTEST:
Maureen King, CMC
City Clerk
Approved as to form and correctness:
Alan C. Jensen, Esquire
City Attorney