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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 />obligations under this Agreement and to act for the Plan and participants in the <br />manner contemplated in this Agreement. Execution, delivery, and performance of <br />this Agreement will not conflict with any law, rule, regulation or contract by <br />which the Employer is bound or to which it is a party. <br />(d) Information required to be retained by the Employer shall be set forth in the RHS <br />plan materials developed by ICMA-RC and provided to the Employer. <br />(e) Employer is responsible for determining that there are no state or local laws that <br />would prohibit it from establishing ICMA-RC's VantageCare RHS program. <br />Employer is also responsible for determining that the investments selected for the <br />RHS plan fall within state/local requirements. <br />(t) Employer acknowledges that the RHS plan may be treated as a "health plan" for <br />Health Insurance Portability and Accountability Act ("HIPAA") purposes and <br />therefore may be subject to HIPAA privacy rules. If it is determined that the RHS <br />plan is considered a "health plan", an employer sponsoring RHS would be <br />responsible for complying with the HIPAA privacy and security rules regarding <br />protected health information of RHS plan participants. <br />ICMA-RC has procedures in place to safeguard the protected health information <br />of RHS plan participants. <br />Participation in Certain Proceedings <br />The Employer hereby authorizes ICMA-RC to act as agent, to appear on its behalf, and to <br />join the Employer as a necessary party in all legal proceedings involving the garnishment <br />of benefits or the transfer of benefits pursuant to a medical child support order. Unless <br />Employer notifies ICMA-RC otherwise, Employer authorizes ICMA-RC to determine <br />whether disbursement of benefits to a former spouse, spouse or child pursuant to a <br />medical child support order is appropriate. <br />Compensation and Payment <br />(a) Absent an explicit agreement to the contrary between ICMA-RC and Employer, <br />participant fees and expenses shall be payable from RHS assets, in accordance <br />with the requirements of the RHS Plan as set forth below. <br />An annual asset fee of 0.40% (40 basis points) will be charged on a <br />quarterly basis, based on the balance in the account on the last day of the <br />previous quarter. <br />In addition to the annual asset fee, a $25 annual account fee will be <br />charged quarterly to each Accountholder's account. <br />Account administration fees are subject to change with appropriate prior <br />55B-8
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