HomeMy WebLinkAboutCC Resolution 11498 (ICMA Deferred Compensation Plan Amendment)RESOLUTION NO. 11498
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL
AMENDING THE ICMA DEFERRED COMPENSATION PLAN TO PERMIT THE
ADOPTION OF THE VANTAGECARE RETIREMENT HEALTH SAVINGS (RHS)
PROGRAM
WHEREAS, the City of San Rafael has employees rendering valuable services; and
WHEREAS, the establishment of a retiree health savings plan for such employees serves
the interests of the City 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 San Rafael has determined that the establishment of the retiree
health savings plan serves the above objectives;
NOW THEREFORE, the City Council of the City of San Rafael does resolve that the City
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 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 has executed the Declaration of Trust of the City of San Rafael Integral Part
Trust in the form of:
XX The model trust made available by the ICMA Retirement Corporation
The trust provided by the City.
BE IT FURTHER RESOLVED, that the City Manager shall be the coordinator and contact
for the Plan and shall receive necessary reports, notices, etc.
I, Jeanne M. Leoncini, Clerk of the City of San Rafael, hereby certify that the foregoing resolution
was duly and regularly introduced and adopted at a regular meeting of the City Council of said City
held on Tuesday, February 17, 2004, by the following vote, to wit:
AYES: COUNCILMEMBERS: Cohen, Heller, Hiller, Phillips & Mayor Boro
NOES: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
JEA&M EOO CA, CITY CLERK