02-1199Council File # ��.���1�
Green Sheet # 100177
Presented By
Referred To
Committee: Date
i WHEREAS, the establishment of a retirement health savings plan for employees serves the interests of
2 the City by enabling it to provide reasonable securiry regarding such employees' health needs during
3 retirement, by providing increased flexibility in its personnel management system, and by assisting in
4 the attraction and retention of competent personnel: and
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WHEREAS, the establishment of a retirement health savings plan will allow the City to comply with
bargaining unit agreemenu; and
WHEREAS, ffie City has determined that the establishment of a retiree health savings plan to be
administered by the ICMA Retirement Corporation and/or its afFiliates serves the above objectives; and
WHEREAS, the City desires that its retiree health savings plan (the 'Plan") be administered by the
ICIVIA Retirement Corporation and/or its affiliates;
NOW, THEREFORE BE IT RESOLVED, that the City hereby adopts the Plan in the form of the
ICMA Retirement Corporation's VantageCare Retirement Heaith Savings Plan.
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with the Ciry serving as
trustee, for the exclusive benefit of Plan participants and their bene6ciaries, and the assets of the Plan
shall not be diverted to any other purpose.
BE IT FINALLY RESOLVED that the Risk Manager shall be the coordinator and contact for the Plan
and shall receive necessary reports, notices, etc.
Requested by Department of:
Technoloev and Manaeement Services
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B y' � —
App ecommended by Financial Services D'uector:
By:
Adopted by Council: Date � d , ,�„ � o �orm
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Adopuon �rtified by Council Secretary By:
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Mayar: Date
RESOLUTION
CITY OF SAINT PAUL, MINNESOTA
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