HomeMy WebLinkAbout2859 Resolution RESOLUTION NO. 2— S
A RESOLUTION AUTHORIZING THE APPROVAL OF A MEDICAL
SAVINGS ACCOUNTNOLUNTARY EMPLOYEES' BENEFICIARY
ASSOCIATION ("MSA VEBA")PLAN FOR DEPARTMENT DIRECTORS
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 Department Directors, including the
City Manager and Municipal Court Judge, as a VEBA eligible group.
Section 2. Effective January 1, 2005, the Council approves the participation of the
Department Directors, including the City Manager and the Municipal Court Judge, 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 retirement only;
• A 2% salary deferral
PASSED by the City Council of the City of Pasco this 6th day of December, 2004
Whael L. icon
Mayor
ATTEST: APPROVED AS TO FORM:
_§:- t Gcl
Sandy L. K nworthy I Leland B. Kerr
Deputy City Clerk City Attorney