HomeMy WebLinkAbout1989-09-11 89-369 ORDERM
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Item No.89369
Item/$ubjM: Authorizing Premium Conversion Plan
Responsible Oepanmenc Finance
Commentary: The implementation of a FissionConversion Plan. under IHS
guidelines will allow the employees to avoid
paying taxes on income
equal to the health insurance and group life
insurance premiums. The '
Finance Committee has approved this concept.
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AswciatM Information:
Budget Approval
Rn« for
Legal Approval:-
.
( YSNirrer
Introduced For
®Passage Page I of I
O First Reading
89-369
Aasiped to Councilor Shubert, September ll, 1969
aau CITY OF BANGOR
(TITLE.) (PrUro dathorizing Premium Conversion Plan
By the City Couyef!of& city of8azpor:
ORDERED;
TnT the City Havener Is hereby A thorlsed to implement a Premium
Conversion plan under Section 135 of the Internal Revenue Service Code.
Statement of pact: Phe above action will provide City employees
aoptional
opportunity t void paying taxes v amount of income equal to the health
insurance and group life insurance premiums paid by the employee.
IN CITY COUNCIL
September 11, 1989
Passed
CITY 1EKK
89-369
DR DER
Title,
AuthorlilnQ Premium conversion Plan
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Councilman