HomeMy WebLinkAboutReso 2005-298
RESOLUTION NO. 2005-298
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA ADOPTING ICMA VANTAGECARE
RETIREMENT HEAL TH SAVINGS (RHS) PLAN AS
ALLOWED BY PRIVATE LETTER RULINGS ISSUED BY
THE INTERNAL REVENUE SERVICE
WHEREAS, effective January I, 2006, the City of ChuIa Vista will offer ICMA's
Retirement Health Savings (RHS) Plan to employees on a voluntary basis; and
WHEREAS, the RHS Plan is an employer-sponsored health benefit savings vehicle that
allows employees to accumulate funds to pay for qualified medical, dental and vision expenses,
long-term care premiums, out-of-pocket medical expenses, medical premiums, etc., on a tax free
basis; and
WHEREAS, the City of Chula Vista will offer a retiree health benefit savings plan to all
represented employees through ICMA's VantageCare Retirement Health Savings (RHS) Plan;
and
WHEREAS, accumulation of eamings on the funds is tax-deferred and the distribution of
funds is tax-free when account assets are used to pay for the qualified medical expenses of the
employee, the employee's spouse, and the employee's dependents, as defined by the Internal
Revenue Service (IRS); and
WHEREAS, the legal basis for the RHS Plan is codified in the Internal Revenue Code,
and its parameters are clarified by several private letter rulings issued by the IRS; and
WHEREAS, the City has prepared and reviewed the Adoption and Trust Agreement, the
Retirement Health Savings Plan document and Administrative Services Agreement.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista does hereby adopt the ICMA VantageCare Retirement Health Savings Plan as allowed by
private letter rulings issued by the Internal Revenue Service.
Presented by
Approved as to form by
1;1, rZJ ~
Marcia Raskin
Director of Human Resources
~~r~~~,
Ann Moore
City Attorney
Resolution No. 2005-298
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 13th day of September, 2005, by the following vote:
AYES:
Councilmembers:
Castaneda, McCann, Rindone, and Padilla
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
Davis
ATTEST:
::: ~,.... ,. I r,--') ~ J "" .J
Susan Bigelow, MMC, City rk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2005-298 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 13th day of September, 2005.
Executed this 13th day of September, 2005.
~ lL 1 /, . ~ , ~ ~ J .<l
Susan Bigelow, MMC, City lerk
J