HomeMy WebLinkAbout04-02 - Adopting VantageCare Retirement Health Savings ProgramRESOLUTION NO. 04-2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
COSTA MESA, CALIFORNIA, ADOPTING VANTAGECARE
RETIREMENT HEALTH SAVINGS PROGRAM
THE CITY COUNCIL OF THE CITY OF COSTA MESA DOES HEREBY
RESOLVE AS FOLLOWS:
WHEREAS, on August 18, 2003, the City approved certain enhancements to the
City's retiree medical program, including a defined contribution retirement healthcare
savings plan;
WHEREAS, the City must now adopt a defined contribution retirement
healthcare savings plan (the "Plan") to be administered;
NOW, THEREFORE, BE IT RESOLVED that, the City hereby adopts the Plan
in the form of the ICMA Retirement Corporation's VantageCare Retirement Health
Savings Program; and
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 Costa Mesa Integral Part Trust in the form of
the model trust made available by the ICMA Retirement Corporation; and
BE IT FURTHER RESOVLED that, the City's Finance Director shall be the
coordinator and contact for the Plan and shall receive necessary reports, notices,
etc.
PASSED AND ADOPTED this 5th day of January, 2004.
ATTEST:
Deputy C' Clerk of the City of Costa Mesa
STATE OF CALIFORNIA)
COUNTY OF ORANGE ) ss
CITY OF COSTA MESA )
4:
Mayor of th q City of Costa Mesa
APPROVED AS TO FORM
City Attorney
I, JULIE FOLCIK, Deputy City Clerk and ex -officio Clerk of the City Council of the
City of Costa Mesa, hereby certify that the above and foregoing Resolution
No. 04-2 was duly and regularly Passed and adopted by the said City Council at
a regular meeting thereof held on the 5t day of January, 2004, by the following roll call
vote:
AYES: Mansoor, Cowan:,.Steel, Scheafer
NOES: None
ABSENT: Monahan
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
the City of Costa Mesa this 6th day of January, 2004.
DepCity Clerk and ex -officio Clerk of
{ the ity Council of the City of Costa Mesa
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