HomeMy WebLinkAbout01-05 RESOLUTION NO. 1-05
A RESOLUTION of the City Council of the City of Port Angeles,
Washington, adopting the VantageCare Retirement Health Savings
(RHS) Program.
WHEREAS, establishment of a retiree health savings plan for City employees serves
the interest of the City by enabling it to provide reasonable security for 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 Port Angeles has determined that the establishment of the
retiree health savings plan (the "Plan") serves the above objectives; and
WHEREAS, the Plan provides a benefit to employees of the City of Port Angeles
without cost to the City,
NOW, THEREFORE,
BE IT RESOLVED by the City Council of the City of Port Angeles that the City
hereby adopts the Plan in the form of the ICMA Retirement Corporation's Vantage Care
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 Mayor is authorized to execute the Declaration of Trust of the City of
Port Angeles Integral Part Trust in the form of the model trust made available by the ICMA
Retirement Corporation.
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BE IT FURTHER RESOLVED that the Human Resources Manager shall be the
coordinator and contact for the Plan and shall receive necessary reports, notices, and other Plan
documents.
PASSED by the City Council of the City of Port Angeles at a regular meeting of said
C°uncil held °n the 4th day °f January' 2005' ~~ ~ ~~~! TM A Y (~Y~ ' ~
ATTEST:
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APPR/OVED AS T0..,FORM:._.~ ~-
William E. Bloor, City Attorney
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