HomeMy WebLinkAboutRes 04-07 Adopting an IRS Section 125 Cafeteria Plan for the Town’s Employees TOWN OF WESTLAKE
RESOLUTION NO. 04-07
A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS, ADOPTING AN IRS SECTION 125 CAFETERIA PLAN
FOR THE TOWN'S EMPLOYEES.
WHEREAS, Participation in an IRS Section 125 cafeteria plan provides the
Town's employees with additional benefits at no cost to the Town. Benefits can include
flexible spending accounts for unreimbursed medical expenses, child care expenses, and
pre-tax insurance deductions for health care and elective supplemental insurance.
WHEREAS, The Town will benefit by reducing its payroll tax liability by 7.65
cents for every dollar an employee defers into the plan. Employees benefit by using pre-
tax dollars for items and services currently paid for with after-tax dollars,thus increasing
their take-home pay.
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS:
SECTION 1: The Board of Aldermen of the Town of Westlake does hereby adopt
an IRS Section 125 Cafeteria plan for the Town's employees.
SECTION 2: This Resolution shall become effective upon the date of its passage.
PASSED AND APPROVED ON THIS 9'DAY OF FEBRUARY 2044.
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ATTEST: Scott Bradle , Mayor
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(Ying`e�,A_rosswy, Town Secr teary Trent O. Petty, To anager
APPROVED AS TO F
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