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<br />RESOLUTION NO. 2006- ~ <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, ADOPTING <br />THE V ANT AGECARE RETIREMENT HEAL TH SAVINGS <br />(RHS) PLAN AS A VOLUNTARY EMPLOYEE BENEFIT <br />WITH THE ICMA RETIREMENT CORPORATION, <br />ATTACHED HERETO AS EXHIBIT "A"; APPROVING <br />THE TRUST AGREEMENT, ATTACHED HERETO AS <br />EXHIBIT "B"; AUTHORIZING THE CITY MANAGER TO <br />DO ALL THINGS NECESSARY TO EFFECTUATE THE <br />TERMS OF THIS RESOLUTION; PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, the City of Sunny Isles Beach currently maintains a 401 a Retirement Plan <br />through the ICMA Retirement Corporation for those employees who in November 2002 chose <br />not to join the Florida Retirement System; and <br /> <br />WHEREAS, the VantageCare Retirement Health Savings (RHS) Plan may be offered to <br />all City employees as a voluntary benefit at no cost to the City; and <br /> <br />WHEREAS, the establishment of a retiree health savings plan for employees serves the <br />interests of the City by enabling it to provide reasonable security regarding employees' health <br />needs during retirement, by providing increased flexibility in its personnel management system, <br />and by assisting in the attraction and retention of competent personnel; and <br /> <br />WHEREAS, the City has determined that the establishment of the retiree health savings <br />plan serves the above objectives, and wishes to adopt the VantageCare Retirement Health <br />Savings (RHS) Plan, attached hereto as Exhibit "A; and <br /> <br />WHEREAS, the City wishes to enter into a Trust Agreement with ICMA Retirement <br />Corporation, attached hereto as Exhibit "B", for the VantageCare Retirement Health Savings <br />Plan. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Adoption of Plan. The VantageCare Retirement Health Savings (RHS) Plan with <br />the ICMA Retirement Corporation, attached hereto as Exhibit "A", be and the same, is hereby <br />approved. <br /> <br />Section 2. Approving Trust Agreement. The City Commission hereby approves the Trust <br />Agreement, attached hereto as Exhibit "B". <br /> <br />Section 3. Authorization of City Manager. The City Manager is hereby authorized to do all <br />things necessary to effectuate the terms of this Resolution. <br /> <br />Section 4. <br /> <br />Effective Date. This Resolution will become effective upon adoption. <br /> <br />R2006- ICMA VantageCare Retirement Plan <br /> <br />Page 1 of2 <br />