HomeMy WebLinkAboutResolution 6228
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RESOLUTION NO. 6228
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
ADOPTING THE VANTAGECARE RETIREMENT HEALTH SAVINGS PROGRAM
WHEREAS, the City of Mounds View wishes to provide benefit options to employees
that maximize the value of compensation from the City; and
WHEREAS, the establishment of a retirement health savings program allows the
employees to provide a resource to meet their health needs during retirement with a flexible
system based on tax advantages for the City and the employees; and
WHEREAS, the retirement health savings program is a valuable benefit that assists in
the attraction and retention of competent employees.
NOW THEREFORE, BE IT RESOLVED, that the City Council adopts the Plan in the
form of the ICMA Retirement Corporation's VantageCare Retirement Health Savings
Program.
BE IT FURTHER RESOLVED, that assets of the Plan shall be held in trust, with the
City of Mounds View 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.
BE IT FURTHER RESOLVED, that the City Council authorizes the Mayor to sign the
Declaration of Trust of the City of Mounds View Integral Part Trust in the form of the model
trust made available by the ICMA Retirement Corporation.
BE IT FURTHER RESOLVED, that the City's Finance Director shall be the
coordinator and contact for the Plan and shall receive necessary reports and notices.
Adopted this 1 th day of April 2004.
ATTEST:
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Kurt Ulrich, City Administrator
(SEAL)