RES-9660 Establishing Retiree Health Savings PlanRESOLUTION NO. 9660
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ORANGE ESTABLISHING A
RETIREE HEALTH SAVINGS PLAN.
WHEREAS, the City of Orange (City) 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 has determined that the establishment of the retiree
health savings plan (the Plan) serves the above objectives and should be of no cost
to the City.
NOW, THEREFORE BE IT RESOLVED, that the City Council of the
City of Orange adopts the Plan in the form of the ICMA Retirement Corporation's
VantageCare Retirement Health Savings program which includes the Employer
VantageCare Retirement Health Savings (RRS) Plan Adoption Agreement and
Plan for Retiree Medical and Dental Expense ReImbursement.
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
authorized the Mayor to execute the Declaration of Trust of the City of Orange
Integral Part Trust in the form of the model tmst made available by the ICMA
Retirement Corporation. The City shall have no tax liability to Plan Participants if
any future determination is made that the Plan or any Plan Participant is not
exempt from federal or state taxes.
BE IT FURTHER RESOLVED, that the Personnel Director shall be the
coordinator and contact for the Plan and shall receive necessary reports, notices,
etc.
BE IT FURTHER RESOLVED, that the Mayor is authorized to execute
all documents necessary to implement the Plan.
ADOPTED this 24th day ofSepternber, 2002.
j:!J!:"~hY' M. 0 C;ty of o,~"
ATTEST:
4~ e6{j
tl~ bf'~ ~tCassanaCathcart, Ci C , City of Ora ge
I hereby certify that the foregoing Resolution was duly and regularly
adopted by the City Council of the City of Orange at a regular meeting thereof held
on the 24th day of September, 2002, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
ABSTAIN: COUNCILMEMBERS:
SLATER, A.LVAREZ, MURPHY, COONTZ, CAVECCHE
NONE
NONE
NONE
1t~~~~L/L-A' ~ ~J(
k Cassa ra Cathcart, City C e. ., City of
Or~