Resolution - 2007-50RESOLUTION NO.2007-50
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST
COVINA, CALIFORNIA, APPROVING THE ADOPTION OF A
RETIREMENT HEALTH SAVINGS (RHS) PLAN WITH
VANTAGECARE
WHEREAS, the City of West Covina (the "Employer") has employees rendering
valuable services; 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; and
WHEREAS, the Employer has determined that the establishment of the retiree health
savings plan (the "Plan") serves the above objective;
NOW, THEREFORE, the City Council of the City of West Covina, California, does
hereby resolves as follows:
SECTION 1. Adopt the Plan in the form of the ICMA Retirement Corporation's
VantageCare Retirement Health Savings program.
SECTION 2. Assets of the Plan shall be held in trust, with the City of West Covina
serving as trustee for the exclusive benefit of Plan participants and their survivors, and the assets
of the Plan shall not be diverted to any other purpose prior to the satisfaction of all liabilities of
the Plan. The Employer has executed the Declaration of Trust of the City of West Covina
Integral Part Trust in the form of the model trust made available by the ICMA Retirement
Corporation
SECTION 3. The City of West Covina shall be the coordinator and contact for the Plan
and shall receive necessary reports, notices, etc.
SECTION 4. The City Clerk shall certify to the adoption of this resolution.
APPROVED AND ADOPTED this 1
ATT STED:
City Clerk aurie Carrico
I, LAURIE CARRICO, CITY CLERK of the City of West Covina, California, do hereby certify
that the foregoing resolution was duly adopted by the City Council of the City of West Covina,
California, at a regular meeting thereof held on the 19`h day of June 2007, by the following vote
of the City Council:
AYES: Herfert, Hernandez, Lane, Sanderson, Touhey
NOES: None
ABSENT: None V
ABSTAIN: None
City Clerk qatine Camco
APPROVED AS TO FORM:
i y Attorney XmqA Alvarez-Glasman