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RESOLUTION NO. 22-02 <br />A RESOLUTION AUTHORIZING THE VILLAGE OF ELK GROVE VILLAGE TO <br />PARTICIPATE IN THE VANTAGE RETIREMENT HEALTH SAVINGS PLAN (ICMA) <br />WHEREAS, the Employer has employees rendering valuable services; and <br />WHEREAS, the establishment of a retirement health savings plan for such <br />employees serves the interests of the Employer by enabling it to provide reasonable <br />security regarding such employees' health needs during retirement, by providing increased <br />flexibility in its personnel management system, and by assisting in the attraction and <br />retention of competent personnel; and <br />WHEREAS, the Employer has determined that the establishment of a retiree health <br />savings plan to be administered by the ICMA Retirement Corporation and/or its affiliates <br />serves the above objectives; and <br />WHEREAS, the Employer desires that its retiree health savings plan (the "Plan") be <br />administered by the ICMA Retirement Corporation and/or its affiliates: <br />NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the <br />Village of Elk Grove Village, Counties of Cook and DuPage, Illinois as follows: <br />SECTION 1. That the Employer hereby adopts the Plan in the form of the ICMA <br />Retirement Corporation's VantageCare Retirement Health Savings Plan. <br />SECTION 2. That the assets of the Plan shall be held in trust, with the Employer <br />serving as trustee, for the exclusive benefit of Plan participants and their beneficiaries, and <br />the assets of the Plan shall not be diverted to any other purpose. <br />1 <br />