HomeMy WebLinkAboutRes 54-01 10/16/2001vwl
10/9/01
RESOLUTION NO. 54-01
A RESOLUTION AUTHORIZING THE ADOPTION
OF THE VANTAGECARE RETIREE HEALTH SAVINGS PLAN
BY THE VILLAGE OF MOUNT PROSPECT
WHEREAS, the V~llage of Mount Prospect ("the EmployeF) has employees
rendenng valuable services to the commumty, and
WHEREAS, the estabhshment of a rebree health sawngs plan for such employees
serves the interests of the Employer by enabhng ~t to provide reasonable secunty
regarding such employees' health needs dunng rebrement, by providing ~ncreased
flex~bd~ty m ~ts personnel management system, and by ass~sbng ~n the attracbon
and retenbon of competent personnel,
WHEREAS, the Employer has determined that the estabhshment of a rebree
health sawngs plan to be adm~mstered by the Ilhno~s C~ty Manager Assoc~abon
(ICMA) Rebrement Corporation and/or ~ts affihates serves the above objectwes,
and
WHEREAS, the Employer desires that its rebree health sawngs plan ("the Plan")
be admm~sterd by the ICMA Retirement Corporabon and/or ~ts affihates
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 Mayor and Board of Trustees of the V~llage of Mount
Prospect do hereby authorize the Employer to adopt the Plan in the form of the
ICMA Retirement Corporabon's VantageCare Retiree Health Sawngs Plan
SECTION TWO That the assets of the Plan shall be held ~n trust, w~th the
Employer serwng as trustee, for the exclusive benefit of Plan participants and their
beneficiaries, and the assets of the Plan shall not be d~verted to any other
purpose
SECTION THREE That the Human Resources D~rector shall be the coordinator
and contact for the Plan, and shall receive necessary reports and noQces
antageCare
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SECTION FOUR That th~s Resolubon shall be ~n full force and effect from and
after ~ts passage and approval in the manner pmwded by law
AYES Corcoran, Hoefert, Lohrstorfer, Skowron, Wdks, Zadel
NAYS None
ABSENT: None
PASSED and APPROVED this 16th day of October, 2001
Velm~we~'~
Vdlage Clerk
H'~,GEN\files~W[N'~RES'~Refl r ee svgs plan Vantagecare,doc