HomeMy WebLinkAboutRES NO 169-06
169-06
RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF BAKERSFIELD
FOR ADOPTION OF THE V ANT AGECARE RETIREMENT
HEAL TH SAVINGS (RHS) PROGRAM FOR THE
EMPLOYEES OF THE BAKERSFIELD POLICE OFFICERS ASSOCIATION
Plan Number: 801553
Name of Employer: City of Bakersfield
State: California
Resolution of the City of Bakersfield (Employer):
WHEREAS, 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 it
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 objectives;
NOW, THEREFORE BE IT RESOLVED, that the Employer hereby adopts the Plan in
the form of the ICMA Retirement Corporation's VantageCare Retirement Health Savings
program.
BE IT FURTHER RESOLVED 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 prior to
the satisfaction of all liabilities of the plan. The Employer has executed the Declaration
of Trust ofthe City of Bakersfield integral Part Trust in the model trust made available by
the ICMA Retirement Corporation.
BE IT FURTHER RESOLVED, that the Finance Director shall be the coordinator and
contact for the Plan and shall receive necessary reports, notices, etc.
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I HEREBY CERTIFY that the foregoing Resolution was passed and adopted by the
Council of the City of Bakersfield at a regular meeting thereof held on JUN 2 1 2006
by the following vote:
CMËS)
NÕËS:
ABSTAIN:
ABSENT:
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COUNCIL MEMBER COUCH, CARSON, BENHAM, MAGGARD, HANSON, SULLIVAN, SCRIVNER
COUNCIL MEMBER
COUNCIL MEMBER
COUNCIL MEMBER
{1.~
CITY CLERK and Ex Officio
Council of the City of Bakers
APPROVED JUN 2 1 2006
APPROVED AS TO FORM:
VIRGINIA GENNARO
City Attorney
By Cþ4ßL~
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EMr-~ .....VER VANTAGECARE RETIREMENT HE,.__{H
SAVINGS (RHS) PLAN ADOPTION AGREEMENT
Plan Number: 8 ð l 5"~ 3
Employer Retirement Health Savings Plan Name: c; "i .F & ~..~~ ë\ ~
Po , ~ t.E Y\ ... t4
I. Employer Name: c:.~ ~ .'f
~ ~ "-Ðt!Þ~ ë \\)
State:
CA.
II. The Employer hereby attests that it is a unit of a state or local government or an agency or instrumentality of
one or more units of a state or local government.
III. The Effective Date of the Plan: "J "'" 't
'l 00 l.
IV. The Employer intends to utilize the Trust to fund only welfare benefits pursu'ant to the following welfare ben-
efit plan(s) established by the Employer:
V. Eligible Groups and Participant Eligibility Requirements
A. The following group or groups of Employees are eligible to participate in the VantageCare Retirement Health
Savings Plan:
~
All Employees
All Full-Time Employees
Non-Union Employees
Public Safety Employees -- Police
Public Safety Employees -- Firefighters
General Employees
Collectively-Bargained Employees (Specify unit) ß"o A
Other (specify below)
x
,
The group specified must correspond to a group of the same designation that is defined in the statutes, ordi-
nances, rules, regulations, personnel manuals or other material in effect in the state or locality of the Employer.
If the Employer's underlying welfare benefit plan or funding under this VantageCare Retirement Health Savings
Plan is in whole or part a non-collectively bargained. self-insured plan, the nondiscrimination requirements of
Internal Revenue Code (IRC) Section 105(h) will apply. These rules may impose taxation on the benefits r~~:c
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by highly compensated Empluyees if the Plan discriminates in favor of I.,ghly compensated Employees in terms
of eligibility or benefits. The Employer should discuss these rules with appropriate counsel.
B. Participant Eligibility
1. Minimum period of service required for participation is ~ (write N/A if an Employee is eligible to partici-
pate or to elect to participate immediately upon employment).
2. Minimum age required for eligibility to participate is ~ (write N/A if no minimum age is required).
VI.Contribution Sources and Amounts
A. Mandatory Contributions
'fl- 1. Direct Employer Contributions
The Employer shall contribute on behalf of each Participant _% of earnings or $
Year.
for the Plan
Definition of earnings:
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~ 2. Mandatory Leave Contributions
The Employer will make mandatory contributions of leave as follows:
Accrued Sick Leave* 0 Yes ø No
Accrued Vacation* 0 Yes fJ No
Other* (describe) DYes 0 No
* Please provide the formula for determining the Accrued Leave contribution:
An Employee shall llQt have the right to discontinue or vary the rate of annual leave contributions.
o 3. Mandatory Employee Compensation Contributions
The Employer will make mandatory contributions of Employee compensation as follows:
o Reduction in Salary - % of earnings (as defined in VI.A.1.) or $ will be
contributed for the Plan Year. / .'
o Decreased Merit or Pay Plan Adjustment - All or a portion of the Employees' annual merit
or pay plan adjustment will be contributed as follows:
An Employee shall not have the right to discontinue or vary the rate of mandatory contributions of
Employee compensation.
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C. Limits on Total Contributions
The total contribution on behalf of each Participant (including both Mandatory and Elective
Contributions) for each Plan Year shall not exceed the following limit(s):
o
0$
o
% of earnings (as defined in VI.A.1.).
There is no Plan-defined limit on the percentage or dollar amount of earnings that may
be contributed.
Limits on individual contribution types are defined within the appropriate section above.
See Section V.A. for a discussion of nondiscrimination rules that may apply to non-collectively bargained self-
insured Plans.
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VII. Vesting Schedule
A. The account is 100% vested at all times, unless specified otherwise in B. below.
B. The following vesting schedule applies to Direct Employer Contributions outlined in V I. A. 1 :
Years of
Service
Completed
Specified
Percent
Vesting
_%
%
-%
-%
_%
_%
%
==%
_%
C. The account will become 100% vested upon the death, disability, retirement, or attainment of
benefit eligibility by a Participant.
Definition of retirement:
D. Any period of service by a Participant prior to a rehire of the Participant by the Employer shall not
count toward the vesting schedule outlined in B. above.
VIII. Forfeiture Provisions
Upon separation from the service of the Employer or upon reversion to the Trust of a Participant's account
assets remaining upon the participant's death (as outlined in Section XI), a Participant's non-vested funds shall:
o Remain in the Trust to be reallocated among all Plan Participant's as Direct Employer Contributions for
the next and succeeding contribution cycle(s).
-pi.. Remain in the Trust to be reallocated on an equal dollar basis among all Plan Participants.
o Remain in the Trust to be reallocated among all Plan Participants based upon Participant account bal-
ances.
o Revert to the Employer.
In the case of separation from service, the Participant's non-vested funds shall be applied as shown above. In the
case of reversion due to the Participant's death under Section XI, the remaining account assets shall be applied
as shown above.
IX. Eligibility Requirements to Receive Medical Benefit Payments from the Vant8geCare Retirement Health
Savings Plan
A. A Participant is eligible to receive benefits:
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,
At retirement only (as defined in Section VII.C.)
At separation from service with the following restrictions
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At age only
At retirement and age
At retirement or age
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B. Termination prior to general benefit eligibility: A Participant who St;;parates from the service of the Employer
prior to attaining benefit eligibility as outlined in Section IX.A. or C. will be eligible to receive benefits:
pJ' Immediately upon separation from service.
D At age
C. A Participant who dies or becomes totally and permanently disabled (as defined by the Social Security
Administration) will become immediately eligible to receive medical benefit payments from his/her VantageCare
Retirement Health Savings Plan account.
X. Permissible Medical Benefit Payments
Benefits eligible for payment consist of:
A. J< All Medical Expenses eligible under IRC Section 213* other than direct long-term care
ex~enses, OR
B. The following Medical Expenses (select only the expenses you wish to cover under the
VantageCare Retirement Health Savings Plan):
Medical Insurance Premiums
Medical Out-of-Pocket Expenses*
Medicare Part B Insurance Premiums
Medicare Supplement Insurance Premiums
COBRA Premiums
Dental Insurance Premiums
Dental Out-of-Pocket Expenses*
Long Term Care Insurance Premiums
Other (Must be eligible under IRC Section 213)*
* See Section V.A. for a discussion of nondiscrimination rules which may apply to non-collectively bargained,
self-insured Plans.
XI. Death Benefit
In the event of a Participant's death, the following shall apply:
Account Transfer: The surviving spouse and/or surviving eligible dependents (as defined in Section XIIJ.F.) of the
deceased Participant are immediately eligible to maintain the account and utilize it to fund eligible medical bene
fits specified in Section X above.
Upon notification of a Participant's death, the Participant's account balance will be transferred into the
Vantagepoint Money Market Fund*. The account balance may be reallocated by the surviving spouse or
dependents.
* Please read the current prospectus carefully prior to investing. An investment in this fund is neither insured
nor guaranteed and there can be no assurance that the Fund will be able to maintain a stable net asset value of
$1.00 per share. Vantagepoint Mutual Funds are distributed by ICMA-RC Services, LLC, a controlled affiliate of
ICMA Retirement Corporation. Member NASD/SIPC.
If a Participant's account balance has not been fully utilized upon the death of the eligible spouse, the account
balance may continue to be utilized to pay benefits of eligible dependents. Upon the death of all eligible depend
ents, the balance will be available for medical benefits for the designated beneficiary of the last dependent or
spouse to die. Assets remaining upon the death of a designated beneficiary shall be available for medical bene-
fits of the beneficiary's designated beneficiary. If there is no living beneficiary(ies), the account will revert to the
Plan to be applied as specified in Section VIII. <¿,(I"Kf'
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There will be no elective withholdinr 'f federal, state, or local taxes for medir--' benefit payments to the
Participant's spouse's or dependent, .Jesignated beneficiary(ies).
If there are no living spouse or dependents at the time of death of the Participant, the account will be availabie
for medical benefits for the designated beneficiary(ies) of the Participant. Assets remaining upon the death of all
designated beneficiaries shall be available for medical benefits of the beneficiary's beneficiary. If there is no liv-
ing beneficiary(ies), the account will revert to the Plan to be applied as specified in Section VIII.
There will be no elective withholding of federal, state, or local taxes for medical benefit payments to the
Participant's beneficiary(ies) or any beneficiary's beneficiary.
XII. De Minimis Accounts
Upon separation from the service of the Employer prior to a Participant becoming eligible for medical benefits
from a VantageCare Retirement Health Savings Plan account, Participant accounts that are considered de min-
imis as specified below will be paid to the Participant.
o The de minimis account value shall be $5,000 or less.
o The de minimis account value shall be $
$5,000) or less.
(insert dollar amount between $0 and
.
o The Plan shall not allow de minimis account distributions.
XIII. The Plan will operate according to the following provisions:
A. Employer Responsibilities
1. The Employer will submit all VantageCare Retirement Health Savings Plan contribution
data via electronic submission.
2. Participant status updates and/or changes or personal information updates and/or changes (Participants'
termination dates, Participants' benefit eligibility dates, etc.) will be provided via electronic submission.
B. Participant account administration fees will be paid through the redemption of Participant account shares,
unless agreed upon otherwise in the Administrative Services Agreement.
C. Employer plan fees will be paid by the Employer as outlined in the Administrative Services Agreement.
D. Assignment of benefits is not permitted.
E. Payments to an alternate payee (payee other than a Participant) are not permitted with the exception of reim-
bursement of health insurance premiums to the Employer.
F. An eligible dependent is the Participant's lawful spouse and any other individual who is a person described in
IRC Section 152(a).
G. The Employer will be responsible for withholding, reporting and remitting any applicable taxes, as outlined
in the VantageCare Retirement Health Savings Plan Employer Manual.
XIV. The Employer hereby acknowledges it understands that failure to properly fill out this Employer
VantageCare Retirement Health Savings Plan Adoption Agreement may result in the loss of tax exemption of the
Trust and/or loss of tax-deferred status for Employer contributions.
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EMPLOYER~
By ~_
Title: _ _~~
Attest:
Accepted: Vantagepoint Transfer Agents, LLC
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Corporate Treasurer
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VantageCare Retirement Health Savings Plan
Implementation Data Form - Page 1
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Instructions to Employer: Provide necessary information to establish your plan properly.
Please contact your New Business Analyst at 1-800-326-7272, if you have any questions.
ICMA RETIREMENT CORPORATION
ICMA-RC Use Only
1. Employer #
General
Information
2. (902) Employer's Full Name: tJit:y JJf ~L~ ~
3. (924) St~etAddress: /5"dl ~ ~
(925)ð~) ~9
4. (918) City: Æ-~ø IL
(919) State: 'CÁ (9¡¿) Zip Code: q ~so 9
5. (633) Primary Contact: Alét. '5 L)1J -:Sml-rfl
6. (634) Primary Contact Title: rOt! A-Iv't!£ l:>1(!.,~C/Tó¡'¿.)
7. (631) Primary Contact Telephone #: (tpIÞI ) :1 "-to - 3'1J.f-O
8. (632) Fax #: (fL!!l) 3 ~ l, - g7,- 0
9. (PTOO) E-mail Address:
10. (882) Employer's Federal Tax Identification Number: q s- (pOOtJ (,7Â
11. # ofEmployees: 14¿J 0
12. # of Employees Eligible for Plan Participation: ~t)
13. # of Employees Eligible to Receive Medical Benefits:
Plan
Implementation
Information
14. Plan level Quarterly Statements: (Note: * = default)_/
a. Sort Order: (629) 0 ß=SSN* IJl N=Name
b. Output Media: (627) IJt' P=Paper* 0 M=Microfiche
c. Type: (626) [JYS=Summary* 0 D=Detail
o B=Bound
15. (611) Contribution Information: (Note: * = default)
a. Frequency: (check one): 1!rÍ0) Bi-weekly*
o (1) Weekly
o (2) Semi-weekly
o (3) Bi-monthly
o ( ) Other:
b. Deposit Medium: (624) ar"6,eck * 0 Wire
o (4) Monthly
o (5) Semi-Monthly
o (6) Bi-quarterly
o m Quarterly
o (8) Semi-quarterly
o (9) Bi-annually
o (10) Annually
o (11) Semi-annually
o EFT
c. Data Medium: EZ Link Required to participate in RHS Plan
d. First Contribution Date Following Implementation: ~ /, / tJ t,
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ICMA Retirement Corporation' Attn: Records Management Unit· P.O. Box 96220 . Washington, DC 20090-6220 . Toll Free 1-800 e69-7400 ,ç
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Plan
Coordinator
Information
t This infQ771¡Jtioo
must be
ccmpie(e; to
é1VOid ¡xrĊssirY;
delays.)
IV'I " 0 ICMA RETIREMENT CORPORATION
!.AI InitIal Access Request Change Access Request
ttL1r" ~ F~ Contribution Date Following Plan Imp/emematl
.' . v Vv "if. C; S.
Plan Name·: C'-#.y of (3AK6tZ.SPU!;"(..o - ~A~r.~6. ~__ '1.(; L~
Plan Number·: $(0 II (¡, Lf
Plan Coordinator Name: Sandra Jimenez
Phone Number: 661-326-3031
Email Address:siimenez@bakersfieldcity.us
Mailing Address: 1501 Truxtun Avenue
City: Bakersfield
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F- ~ internal NBU use only:
User 10: C
EZLINK ACCESS FORM
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~
Title: Ass is tan t Finance Direc tc
Fax: 661-852-2040
State:
CA
Zip: 93301
2
You must provide the "Password Holder Information" to establish a User id and password for the Plan Coordinator,
Total Number of User ID's:
o Delete User ID
Password
Holder
Information
and
On-line
Withdrawal
Option
User ID (ifa change)
Name: T. S. Liew
Title: Applications Systems Supervisor
Phone #: 661-326-3772
email Address:tsliew@bakersfieldcity.us
Access:
Balancesllnquiry
Enrollments/Rehires
Participant Changes
(name. address. etc.)
_Y_N
_Y_N
_Y_N
Contributions & Loan Repays:
File Transfer
On-Line Entry
On-line Withdrawals
LY_N
_Y_N
_Y_N
..,..,................... -.'..'....'...........'.........'...................................,...................,..........................., ....................... .....
User ID (if a change)
Name: ::~d~a Jimenez
Title: Same as above
Phone #:
o Delete User ID
Email Address:
Access;
Balancesllnquiry
Enrollments/Rehires
Participant Changes
(name. address. etc,)
_Y_N
_Y_N
_Y_N
Contributions & Loan Repays:
File Transfer
On-Line Entry
On-line Withdrawals
]LY _N
_Y_N
_Y_N
....,.,...........,....,....,....,........................ ......... ......,.... ............................,................ ........,........,........ .....................
User ID (if a change)
Name: Hi 11 Gi 1 tner
Title: Accountant I
Phone #: ,;,; 1 -1 ?';-17 4Q
Acces~:
Balanceslfnquiry
Enrollments/Rehires
Participant Changes
(name. address. etc.)
o Delete User ID
_Y_N
_Y_N
_Y_N
Email Address: bsdltner@bakersfieldci ty
.us
User ID (if a change) 0 Delete User ID
Name:
Title:
Phone #: Email Address:
Acces~;
Balances/lnquiry _ Y _N Contributions & Loan Repays:
Enrollments/Rehires _ Y _N File Transfer _ Y _N
Participant Changes _ Y _N On-Line Entry _ Y _N
(name. address. etc.) On-line Withdrawals _Y _~. ,?:,p.,K~~
..Q',p
Please fax your completed EZLink Access Form to the "EZLink Administrator" at 1.202.9~-4601. *
FRM~,g.200309cS
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Contributions & Loan Repays:
File Transfer
On-Line Entry
On-line Withdrawals
x.. Y _N
_Y_N
_Y_N
VantageCare Retirement Health Savings Plan
Implementation Data Form - Page 2
Plan Contacts
(If any item #16-21 is left blank, the Primary Contact in #5 will receive mailings
Payroll Contact
Information
Please indicate
alternate
addresses in
Coments Section
Contribution
Contact
Information
Trustee Contact
Information
Billing (Fees)
Contact
Information
Comments:
(Alternate
Addresses for
#16-21 )
Internal Use
Only
16. PTOl
(200)
(200)
(420)
17. PT08
(200)
(200)
(420)
18. PT09
(200)
(200)
(420)
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ICMA RETIREMENT CORPORATION
Contact Signature:
Contact Name:
Contact Title:
Telephone: VdzL~$ -- '3 Fax: (_)
Contact Signature: '. I . .
Contact Name: _ ___.J
Contact Title:
Telephone: (fN/) :5~v - *'1l./-'1 Fax: (_)
Contact Signature:
Contact Name:
Contact Title:
Telephone: (_) Fax: (_)
19. PT02 (200)
(200)
(420)
20. PT10 (200)
(200)
(200)
21. PT06 (200)
(200)
(420)
641
Contact Name:
Contact Title:
Telephone: (_)
Fax: (_)
Trustee Name:
Trustee Title:
Trustee Address:
Street
City
(420) Telephone: (_)
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ICMA Retirement Corporation· Attn: Records Management Unit. P.O. Box 96220. Washington, DC 20090-6220. Toll Free 1-800669-7400
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State
Zip
Fax: (_)
Contact Name:
Contact Title:
Telephone: (_)
Fax: (_)
912_
608
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