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55B - RESO AND AGMT - RETIREE HEALTH SAVINGS PLAN
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11/28/2011
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55B - RESO AND AGMT - RETIREE HEALTH SAVINGS PLAN
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Last modified
1/3/2012 3:37:35 PM
Creation date
11/23/2011 1:08:08 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Personnel Services
Item #
55B
Date
11/28/2011
Destruction Year
2016
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Plan number 803237 <br />ADMINISTRATIVE SERVICES AGREEMENT <br />This Agreement, made as of the 28 day of November , 2011 (herein referred <br />to as the "Inception Date"), between The International City Management Association <br />Retirement Corporation ("ICMA-RC"), a nonprofit corporation organized and existing <br />under the laws of the State of Delaware; and the City of Santa Ana ("Employer") a local <br />governmental instrumentality organized and existing under the laws of the State of <br />California with an office at 20 Civic Center Plaza, Santa Ana, California 92701. <br />RECITALS <br />Employer acts as a public plan sponsor for a retiree health plan with responsibility to <br />obtain investment alternatives and services for employees participating in that plan; <br />Employer desires to make the VantageCare Retirement Health Savings Plan ("RHS Plan" <br />or "Plan") provided by ICMA-RC available to its employees; <br />ICMA-RC makes available the Vantagepoint Funds, a no-load, diversified mutual fund, <br />for investment of public employer plan assets, including RHS Plan assets; <br />lC MA-RC provides a complete offering of services to public employers for the operation <br />of employee retirement and retiree health savings plans including, but not limited to, <br />communications concerning investment alternatives, account maintenance, account <br />record-keeping, investment and tax reporting, form processing, benefit disbursement and <br />asset management. <br />Acceptance of RHS Plan <br />AGREEMENTS <br />Employer agrees to make the RHS Plan provided by ICMA-RC available to its <br />employees. The details of the RHS Plan shall be as mutually agreed between the <br />Employer and ICMA-RC, and in general shall be as set forth in the RHS Plan materials <br />developed by ICMA-RC and provided to Employer. The RHS Plan materials are hereby <br />incorporated by reference and made a part of this Agreement, except that Employer and <br />ICMA-RC may from time to time mutually agree in writing to terms that vary from the <br />RHS Plan materials. RHS plan materials shall include the VantageCare RHS Employer <br />Manual, available electronically through the EZ Link System upon plan adoption. <br />The functions to be performed by ICMA-RC and its agents include: <br />(a) allocation in accordance with participant direction of individual accounts to <br />investment funds ("Funds") made available to Plan participants; <br />(b) maintenance of individual accounts for participants reflecting amounts <br />55B-6
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