Laserfiche WebLink
RESOLUTION NO. 40-16 <br /> A RESOLUTION AMENDING RESOLUTION 16-08 BY APPROVING A <br /> DECLARATION OF AMENDMENT TO THE VANTAGECARE RETIREMENT <br /> HEALTH SAVINGS PLAN OF THE VILLAGE OF ELK GROVE VILLAGE (ICMA) <br /> WHEREAS,the Employer, the Village of Elk Grove Village, has employees rendering <br /> valuable services; and <br /> WHEREAS,the Employer,the Village of Elk Grove Village, has established a retiree <br /> health savings plan in the form of the VantageCare Retirement Health Savings Plan (the "Plan") <br /> for such employees that serves the interest 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 retention of <br /> competent personnel; and <br /> WHEREAS,the Employer, the Village of Elk Grove Village, has determined that the <br /> continuance of the Plan serves the above objectives. <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, State of Illinois as follows: <br /> Section 1: That the Employer, the Village of Elk Grove Village, hereby amends and <br /> restates the Plan as outlined in the attached Declaration of Amendment to the VantageCare <br /> Retirement Health Savings Plan; and <br /> Section 2: That the assets of the Plan shall be held in trust, with the Employer, Village of <br /> Elk Grove Village, as Trustee ("Trustee") for the exclusive benefit of Plan participants and their <br /> beneficiaries; and <br /> Section 3: That the assets of the Plan shall not be diverted to any other purpose prior to <br /> the satisfaction of all liabilities of the Plan; and <br />