HomeMy WebLinkAboutRes 33-94 09/20/1994 RESOLUTION NO. 33-94
A RESOLUTION AUTHORIZING THE AMENDMENT OF THE VILLAGE
OF MOUNT PROSPECT FLEXIBLE COMPENSATION PROGRAM
WHEREAS, the Village of Mount Prospect has instituted a Flexible Compensation
Program, as amended and restated February 1, 1986 (the "Plan"); and
WHEREAS, current full-time employees of the Village of Mount Prospect are eligible
to participate in the Plan; and
WHEREAS, individuals who have retired, quit or who are otherwise not classified as
current full-time employees are not eligible to participate in the Plan; and
WHEREAS, participation in the Plan is on a completely voluntary basis, except that the
Plan automatically provides for the payment of an Employee's medical insurance contribution
with pre-tax dollars; and
WHEREAS, the Mayor and Board of Trustees have determined that the benefits of the
Plan should be available to retired employees of the Village of Mount Prospect; and
WHEREAS, pursuant to Section 7.1, Article VII, of the Plan, the Village of Mount
Prospect wishes to amend the Plan to allow retired employees of the Village of Mount Prospect
to participate in the Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES
OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the Village President and Village Clerk of the Village of Mount
Prospect are hereby authorized to execute an amendment to the Plan which will provide that any
Retiree who is receiving Sick Leave Deferred Payments from the Employer may participate in
the Plan.
SECTION TWO: That a Retiree's participation in the Plan will be on a completely voluntary
basis.
SECTION TI-IREE: That this Resolution shall be in, full force and effect from and after its
passage and approval in the manner provided by law.
AYES: C]owes, Corcoran, aendricks, Hoefert, Skowron, W~]ks
NAYS: None
ABSENT: None
PASSED and APPROVED this 20th day of September , 1994.
ATrleST: . r_~- ~- .... :fiixC~a L. rarl~y /
Mayor
/S/Carol A. Fields
Carol A. Fields
Village Clerk
Amendment No. 1 - Effective May 1, 1994
I. Section 1.3 of Article I entitled "Definitions" is hereby mended as follows:
Paragraph (i): Participant is hereby mended in its entirety; so that hereinafter said
Paragraph (i) of Section 1.3 of Article I shall be and read as follows:
" (i) Participant: An Employee or Retiree of the Employer
who is eligible to participate in this Plan in accordance with
Article H hereof."
Paragraph (m) is hereby added so that hereinafter said Paragraph (m) of Section 1.3 of
Article I shall be and read as follows:
" (m) Retiree: Any person previously employed by the
Employer who has terminated employment with the
Employer and who receives Sick Leave Deferred Payment
mounts from the Employer."
II. ACfide H entitled "Eligibility for Participation" is hereby amended as follows:
The following paragraph is hereby added to Article H:
" An individual who is a Retiree of the Employer may
become a Participant so long as the Retiree receives Sick
Leave Deferred Payments from the Employer."
VILLAGE OF MOUNT PROSPECT
~-~ Gerald LJ Farley /
Attest: Village President
/S/Carol A. Fields
Carol L. Fields
Village Clerk