HomeMy WebLinkAboutRes 45-03 11/04/2003 RESOLUTION NO. 45-03
A RESOLUTION AUTHORIZING THE ADOPTION OF
AN AMENDED VANTAGECARE RETIREE HEALTH SAVINGS PLAN
(FULL-TIME, NON-UNION EMPLOYEES)
WHEREAS, the Village of Mount Prospect ("the Employe?') has employees rendering
valuable services to the community; and
WHEREAS, the establishment of a retiree health savings plan for such employees
serves the interests of the Employer by enabling it to provide reasonable security
regarding such 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;
WHEREAS, the EmploYer has determined that the establishment of a retiree health
savings plan to be administered by the International City/County Management
Association Retirement Corporation (ICMA-RC) and/or its affiliates serves the above
objectives; and
WHEREAS, the Employer desires that its retiree health savings plan ("the Plan") be
administered by the ICMA Retirement Corporation (ICMA-RC) and/or its affiliates.
WHEREAS, on October 16, 2001, the Mayor and Board of Trustees of the
Village of Mount Prospect approved Resolution No. 54-01 authorizing the Village to
participate in the VantageCare Retiree Health Savings 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 Mayor and Board of Trustees of the Village of Mount Prospect
do hereby authorize the Employer to adopt the amended Plan in the form
of the ICMA Retirement Corporation's VantageCare Retiree Health Savings Plan
amended, and hereby attached as "Exhibit A."
SECTION TWO: That the assets of the Plan shall be held in trust, with the Employer
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.
SECTION THREE: That the Human Resources Director shall be the coordinator and
contact for the Plan, and shall receive necessary reports and notices.
antageCare
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SECTION FOUR: That this Resolution shall be in full force and effect from and after its
passage and approval in the manner provided by law.
AYES: Hoefert, Lohrstorfer, Skowron, Wilks, Zadel
NAYS: None
ABSENT:
PASSED and APPROVED this 4th day of November, 2003.
ATTEST:
Village Clerk
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