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HomeMy WebLinkAboutResolution No. 04-75 CITY OF THE COLONY, TEXAS RESOLUTION NO. otf-15 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE COLONY TO ADOPT THE ICMA VANTAGE CARE RETIREMENT HEALTH SAVINGS (RHS) PROGRAM FOR CITY EMPLOYEES WHEREAS, the Employer 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 Employer has determined that the establishment of the retiree health savings plan (the "Plan") serves the above objectives. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY: SECTION 1. That the Employer hereby adopts the Plan in the form of the ICMA Retirement Corporation's VantageCare Retirement Health Savings program. SECTION 2. That the assets of the Plan shall be held in trust, with the Employer 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. SECTION 3. That the Employer has executed the Declaration of Trust of the City of The Colony Integral Part Trust in the form of the Model trust made available by the ICMA Retirement Corporation. BE IT FURTHER RESOLVED THAT the HR Director shall be the coordinator and contact for the Plan and shall receive necessary reports, notices, etc. APPROVED on this 13th day of September, 2004 by the following vote: AYES: rt - NAYS: .:f:J ABSENT: -~ A TTES.:f: APPROVED: C~~ W~b'-' ~b~ID 'stieWilson, City Secretary J obI: Dillard, Mayor ' 777 North Capitol Street. N E Washington. DC 20002-4240 1-202-962-4600 FAX 1-202-962-4601 Toll Free 1-800-669-7400 . '. ACCEPTANCE LETTER En Españolllame aI1-800-669-8216 . Internet: http://www.icmarc.org October 15, 2004 Margaret Burkett Human Resources Director City of the Colony 6800 Main Street The Colony TX 75056 RE: ICMA Retirement Corporation's VantageCare Retirement Health Savings Plan Account Number 800656 Dear Ms. Burkett: The ICMA Retirement Corporation is pleased to accept the City of the Colony VantageCare Retirement Health Savings Plan (RHS). For your convenience, we have enclosed an announcement letter with a summary of plan provisions and exhibits. This letter can be copied onto your company letterhead to assist you with communicating plan provisions to your employees. Please note your employer account number above. Each employee who enrolls in the plan will be identified by the account number and their social security number. If you have questions about your RHS plan, please contact your Retirement Plans Specialist. If you need additional materials (i.e., enrollment kits), please contact RC's Employer Services staff at 1-800-326-7272. ðn~re'v, C ~~ nifer .. ones New Business Specialist Enclosure ICMA RETIREMENT CORPORATION Jt The Public Sector Expert ~ Vantagepoint securities are distributed by ICMA-RC Services. LLC.. a broker-dealer affiliate of ICMA-RC. member NASO/SIPC.