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Ordinance 20-004 Social Security and Medicare CITY OF SPOKANE VALLEY SPOKANE COUNTY,WASHINGTON ORDINANCE 20-004 AN ORDINANCE OF THE CITY OF SPOKANE VALLEY, SPOKANE COUNTY, WASHINGTON,AMENDING 2.50.100 OF THE SPOKANE VALLEY MUNICIPAL CODE RELATING TO SOCIAL SECURITY AND MEDICARE,AND OTHER MATTERS RELATING THERETO. WHEREAS, the City of Spokane Valley previously adopted SVMC 2.50.100 in 2003 relating to participation in a substitute Social Security program as a comparable retirement system to the one provided through the federal government; and WHEREAS, SVMC 2.50.100(C)states that the Social Security substitute program shall be a 401 A plan, and that City and employee contribution rates and maximums shall match FICA contribution rates and maximums as published in the Internal Revenue Service's Employee Tax Guide, IRS publication 15; and WHEREAS, the federal government may from time-to-time temporarily reduce FICA contributions from employers and employees for various reasons, which can have a detrimental effect on the retirement benefits that employees may accrue while employed by the City; and WHEREAS,the Council believes any short-term gain resulting from such temporary reductions to employees are more than offset by the long-term negative impacts on accrued funds available upon retirement; and WHEREAS, the Council seeks to avoid these types of temporary reductions in retirement contributions by amending the Municipal Code and identifying that any such temporary reductions will not automatically result in a similar reduction for employees of the City. NOW, THEREFORE, the City Council of the City of Spokane Valley, Washington ordains as follows: Section 1. Amendment. Spokane Valley Municipal Code 2.50.100 relating to Social Security and Medicare is hereby amended as follows: 2.50.100 Social Security and Medicare. A. The City of Spokane Valley shall offer a substitute Social Security program, and shall not participate in the Social Security System (FICA) for employees covered by a qualified retirement program. B. Casual, part-time and temporary employees who are not covered by a qualified retirement program shall participate in the Social Security System (FICA) as required by law. C. The Social Security substitute program shall be a 401A plan approved by the city council. City and employee contribution rates and maximums shall match FICA contribution rates and maximums as published in the Internal Revenue Service's Employer's Tax Guide, IRS Ordinance 20-004 Amending SVMC 2.50.100—Social Security and Medicare Page 1 of 2 Publication 15. The City and employee rates shall not be reduced in circumstances where the FICA rates are temporarily reduced. D. As required by law, the City shall participate in the Medicare program. Section 2. Severability. If any section, sentence, clause, or phrase of this Ordinance should be held to be invalid o, unconstitutional 6vucourt oycompetent jurisdiction, such invalidity or unconstitutionality shall not affect the validity or constitutionality of any other section, sentence,clause,or phrase of this Ordinance. Section 3. Effective Date. This Ordinance shall be in full force and effect five days after the date of publication of this Ordinance or a summary thereof in the official newspaper of the City. Passed this l7thday o[March, 2O2U. 01 ATTEST: Ben Wick, Mayor L,4_,*m.�'42.,/vu+(- -4-4--, -s'�� ' Christine Bainbridge, City Clerk Approved As To Form: / ~ ' Office o��cCity ~�G•,n ney Date of Publication: . ^- � � ~°T� ?�7w~" Effective Date: LL b|•7o7.,)