HomeMy WebLinkAboutResolution No. 2005-29
RESOLUTION 2005-29
ADOPTING THE V ANTAGECARE RETIREMENT HEALTH SAVINGS (RHS) PROGRAM
WHEREAS, the City of Columbia Heights has employees rendering valuable services; and
WHEREAS, the establishment of a retiree health savings plan for such employees serves the
interests of the Employer 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 Columbia Heights has determined that the establishment of the retiree
health savings plan (the "Plan") serves the above objectives;
NOW, THEREFORE, BE IT RESOLVED that the City of Columbia Heights hereby adopts the
Plan in the form of the ICMA Retirement Corporation's VantageCare Retirement Health Savings
Program.
BE IT FURTHER RESOLVED, that the assets of the Plan shall be held in trust, with the City of
Columbia Heights 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. The City of Columbia Heights has executed the Declaration of Trust of the City of
Columbia Heights Integral Part Trust in the form of the model trust made available by the leMA
Retirement Corporation.
BE IT FURTHER RESOLVED, that the Assistant to the City Manager/Human Resources Director
shall be the coordinator and contact for the Plan and shall receive necessary reports, notices, etc.
I, Willia..m Elrite, Clerk of the City of Columbia Heights, do hereby certify that the foregoing resolution
proposed by Council Member \Villiaius and seconded by Council Member Kelzenberg was duly passed
and adopted by the City Council of the City of Columbia Heights at a regular meeting thereof assembled
this 13th day of June 2005, by the following vote:
AYES:
NAYS:
Peterson, Williams, Ericson Diehm, Kelzenberg
Nawrocki
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William Elrite
City Clerk