HomeMy WebLinkAboutReso 2002-149 - VantagecareRESOLUTION NO. 2002-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
ADOPTING THE VANTAGECARE RETIREMENT HEALTH SAVINGS
(RHS) PLAN.
WHEREAS, the City of Redding has full-time and part-time regular employees who are
unrepresented or are represented by the Peace Officers Association of Redding, the Redding Police
Management Association, the International Brotherhood of Electrical Workers-Electric Unit, and
the International Brotherhood of Electrical Workers-Maintenance Unit; and
WHEREAS, the establishment of a retiree health savings plan for such employees serves
the interests of the City of Redding by enabling it to provide reasonable security regarding such
employees' health needs during retirement, by providing increased flexibility in its personnel
management; and
WHEREAS, the City of Redding has determined that the establishment of the retiree health
savings plan (the "Plan") serves the above objectives;
NOW, THEREFORE, IT IS HEREBY RESOLVED by the City Council that the Plan in
the form of the ICMA Retirement Corporation's VantageCare Retirement Health Savings Plan, is
hereby adopted;
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with the
City of Redding 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 &the Plan. The City of Redding has executed the Declaration of Trust
of the City of Redding Integral Part Trust in the form of the model trust made available by the ICMA
Retirement Corporation.
BE IT FURTHER RESOLVED that the Administrative Services Director shall be the
coordinator and contact for the Plan and shall receive necessary reports, notices, etc.
I HEREBY CERTIFY that the foregoing Resolution was introduced, read, and adopted at
a regular meeting of the City Council of the City of Redding on the 15th day of October, 2002, by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Cibula, McGeorge, Pohlmeyer and Kight
None
Stegall
None
PAT KIGHT, Mayor
ATTEST:
CONm .. SXl O- V , t*y Cler
D:\wo~k\COUNClL\vantagecaFc-res.wpd
FORM APPROVED:
BRAD L. FULLER, City Attorney