HomeMy Public PortalAboutResolution - 06-52- 20061129 - Adopt Retirement Health S I
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RESOLUTION No. 06- 52
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on November 29, 2006 at a Special Meeting thereof, by the following vote:
AYES: J. Cyr, M. Davey, N. Hanko, L. Hassett, K. Nitz, C. Riffle, P. Siemens
NOES: None
ABSTAIN: None
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ABSENT: None
ATTEST: APPROVED:
ecretary eside
Board of Directors Board of Directors
I, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify that
the above is a true and correct copy of a resolution duly adopted by the Board of Directors of
the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
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District Cqrrt
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RESOLUTION NO. OS-52
RESOLUTION (}[THE BOARD 0P DIRECTORS OF MlDPENON3DLA
� REGIONAL OPEN SPACE DISTRICT ADOPTING TBEVANTAGBC&RE
� RETIREMENT HEALTH SAVINGS (KHS) PROGRAM
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WHEREAS, Midpeninsula Regional Open Space District employees render valuable services; �
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WHEREAS, the establishment of retiree health savings plan for Such employees serves the
interests of Midpeninsula Regional {}ocn Space District by enabling it to provide reasonable security for
such employees' beu|tb needs during retirement, hv providing increased flexibility in its personnel
management system, and by assisting in tile attraction and retention of competent personnel; and
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WHEREAS, K4idpcninmu|a Regional Open Space District has determined that the establishment �
of the Retiree Health Savings 9|un (^thep|un")serves the above objectives;
NOW, THEREFORE BE |TRESOLVED that the Board of Directors hereby adopts the Plan in
tile form of the ICMA Retirement Corporation's VantageCare Retirement Health Savings prograrn; and |
BE IT FURTHER RESOLVED that the assets of the Plan shall he held in trust, with �
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KdidpenioSu}a Regional Open Space District serving eatrustee, for tile exclusive benefit ofPlan
participants and their beneficiaries, and the assets of the Plan shall not be diverted to any other purpose
prior totile satisfaction of all liabilities ofthe Plan. The Midponineu\akcgionm} Open Space District has |
executed tile Declaration of Trust ofthe N4idpcninou|aRcgiono| (}pen Space District Integral Part Trust in
the form of: �
The model trust made available hy tile [CMf\ Retirement Corporation
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L_� The trust provided by Midpeninau|a Regional Open Space District(executed copy attached
hereto). �
8ElTFURTHER RESOLVED, that tile MidpeninSLIla Regional Open Space District shall be the
coordinator and contact for the Plan and shall receive such reports, notices, and other materials necessary
� for the administration of the Plan.
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