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HomeMy WebLinkAbout2858 Resolution RESOLUTION NO. 285 b A RESOLUTION AUTHORIZING THE APPROVAL OF A MEDICAL SAVINGS ACCOUNTNOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION ("MSA VEBA") PLAN FOR DIVISION MANAGERS WHEREAS, the Internal Revenue Code, Section 501(c)(9) allows for the creation of a voluntary employee beneficiary association which is an employee sponsored, tax-exempt health and welfare trust; and WHEREAS, the Council approved Resolution 2847 establishing a Medical Savings Account/Voluntary Employees' Beneficiation Association ("MSA VEBA"); and WHEREAS, Resolution 2847 requires each group of eligible employees be defined and approved by the Council or bargaining contract; NOW,THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO,WASHINGTON HEREBY RESOLVES AS FOLLOWS: Section 1. The City recognizes and approves the Division Managers, including the Assistant Fire Chief, Police Captains, and Assistant Field Manager, as a VEBA eligible group known collectively as the Division Managers group. Section 2. Effective January 1, 2005, the Council approves the participation of the Division Managers group in the City of Pasco VEBA benefit. Section 3. The Plan will be funded by employer contributions in exchange for compensation, as follows: • Sick leave cash-out upon termination of service with the City of Pasco • A 1% salary deferral PASSED by the City Council of the City of Pasco this 61h day of December, 2004 L"Michael L. barrison Mayor ATTEST: APPROVED AS TO FORM: it Sandy L. K nworthy Le and B. Kerr Deputy City Clerk City Attorney