2000-54Resolution No. 2000- 54
RESOLUTION FOR THE ADOPTION OF THE
ICMA RETIREMENT CORPORATIONS
VANTAGECARE RETIREE HEALTH SAVINGS PLAN
WHEREAS, The Village of Buffalo Grove (the "Village ") has employees rendering valuable
services; and
WHEREAS, the establishment of a retiree health savings plan for such employees serves the
interests of the Village 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 Village has determined that the establishment of a retiree health savings plan to
be administered by the ICMA Retirement Corporation and /or its affiliates serves the above
objectives; and
WHEREAS, the Village desires that its retiree health savings plan (the "Plan ") be administered by
the ICMA Retirement Corporation and /or its affiliates;
NOW, THERFORE BE IT RESOLVED, by CORPORATE AUTHORITIES, of the Village of Buffalo
Grove, Cook and Lake Counties, Illinois, that the Village hereby adopts the Plan in the form of the
ICMA Retirement Corporation's VantageCare Retiree Health Savings Plan.
BE IT FURTHER RESOLVED that the assets of the Plan shall be held in trust, with the Village
serving as trustee, for the exclusive benefit of Plan participants and their beneficiaries, and that
the assets of the Plan shall not be diverted to any other purpose.
BE IT FURTHER RESOLVED, that the Director of Human Resources shall be the coordinator
and contact for the Plan and shall receive necessary reports, notices, etc.
AYES: 4 — Marienthal, Braiman, Glover, Berman
NAYES: 0 — None
ABSENT: 2 — Hendricks, Johnson
Approved November 20 12000 Passed November 20_,2000
F pp
14M, 105
Attest:
F04
of
',age Clerk / .