HomeMy WebLinkAbout10533RESOLUTION NO. 10533
A RESOLUTION ADOPTING THE VANTAGECARE RETIREMENT HEALTH SAVINGS (RHS)
PROGRAM, ADOPTING AND APPROVING DOCUMENTS RELATING THERETO, AND
AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME
WHEREAS, the City of Pueblo has employees rendering valuable services; and
WHEREAS, the establishment of a retiree health savings plan for such employees serves the
interests of the City of Pueblo by enabling it to provide reasonable security regarding such employees'
health needs during retirement, by providing increased flexibility in its personnel management system,
and by assisting in the attraction and retention of competent personnel; and
WHEREAS, the City of Pueblo has determined that the establishment of the retiree health
savings plan (the "Plan ") serves the above objectives. NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO. that:
SECTION 1
The City of Pueblo does hereby adopt the Plan in the form of the ICMA Retirement
Corporation VantageCare Retirement Health Savings program and approves the Employee
VantageCare Retirement Health Savings (RHS) Plan Adoption Agreement, a copy of which is
attached hereto.
SECTION 2
The assets of the Plan shall be held in trust, with the City of Pueblo serving as trustee, for the
exclusive benefit of Plan participants and their beneficiaries, and the assets of the Plan shall not be
diverted to any other purpose prior to the satisfaction of all liabilities of the Plan.
SECTION 3
The Declaration of Trust of the City of Pueblo Integral Part Trust in the form of the model trust
made available by the ICMA Retirement Corporation is hereby approved and adopted.
SECTION 4
The letter agreement dated July 6, 2004 amending the existing Administrative Services
Agreement between the City of Pueblo and the ICMA Retirement Corporation to provide the City of
Pueblo VantageCare Retirement Health Savings (RHS) Plan for the City of Pueblo's eligible
employees is hereby approved.
SECTION 5
The Retiree Medical and Dental Expense Reimbursement Plan in the form of the sample plan
made available by the ICMA Retirement Corporation is hereby approved and adopted.
SECTION 6
The President of the City Council is authorized to execute in the name of the City the
documents described in Sections 1, 3, 4 and 5 hereof and those documents are hereby directed to be
filed in the office of the City Clerk.
SECTION 7
The Director of the Department of Human Resources is designated as and shall be the
coordinator and contact for the Plan and shall receive all necessary reports, notices and other
documents relating to the Plan.
SECTION 8
This Resolution shall become effective upon final passage and approval.
INTRODUCED October 11, 2005
BY Jeff Chostner
Councilperson
APPROVED:
PIRESMENT 9F CITY CPWCIL
ATTESTED BY:
CITY CLERK