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Reso 2006-995
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Reso 2006-995
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Last modified
5/9/2011 4:32:55 PM
Creation date
5/9/2011 4:32:37 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2006-995
Date (mm/dd/yyyy)
10/19/2006
Description
Agmt w/ICMA: Voluntary Participation in Vantagecare RHS Plan.
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<br />VII. Vesting Schedule <br /> <br />A. The account is 100% vested at all times, unless specified otherwise in B. below. <br /> <br />B. The following vesting schedule applies to Direct Employer Contributions outlined in VI.A.1: <br /> <br />Years of <br />Service <br />Completed <br /> <br />Specified <br />Percent <br />Vesting <br />% <br />% <br />% <br />% <br />% <br />% <br />% <br />% <br />% <br /> <br />C. The account will become 100% vested upon the death, disability, retirement, or attainment of <br />benefit eligibility by a Participant. <br /> <br />. <br /> <br />Definition of retireme~t: A<;. ck.. ~ ~ ~ ~~ \ < F ~ 5 ~h(,"<.w1<..v\.t-p {~ <br />~~L'~ . 0: +hP C.l'"'f <. .r~ 'lYl~.-~ c_ ~DII\ r-e:tll('tmJ(~+ ?l6-V\ <br />c."... '-l\-=>r." .;S'~~-c.-~~ ~~ (Ul-~(~M-e 1- If' t7ct Vq,s~ 11\ ~l~U-~~ ~re.~ ~b....\ . <br />D. Any period of service by a Participant prior to II retfire o? the Participant by the Employer st-mll not <br />count toward the vesting schedule outlined in B. above. <br /> <br />VIII. Forfeiture Provisions <br /> <br />Upon separation from the service of the Employer or upon reversion to the Trust of a Participant's account <br />assets remaining upon the participant's death (as outlined in Section XI), a Participant's non-vested funds shall: <br /> <br />o Remain in the Trust to be reallocated among all Plan Participant's as Direct Employer Contributions for <br />the next and succeeding contribution cycle(s), <br /> <br />o Remain in the Trust to be reallocated on an equal dollar basis among all Plan Participants. <br /> <br />o Remain in the Trust to be reallocated among all Plan Participants based upon Participant account bal- <br />ances. <br /> <br />o Revert to the Employer. <br /> <br />In the case of separation from service, the Participant's non-vested funds shall be applied as shown above. In the <br />case of reversion due to the Participant's death under Section XI. the remaining account assets shall be applied <br />as shown above. <br /> <br />IX. Eligibility Requirements to Receive Medical Benefit Payments from the VantageCare Retirement Health <br />Savings Plan <br /> <br />A. A Participant is eligible to receive benefits: <br /> <br />/ <br />V <br /> <br />At retirement only (as defined in Section VII.C.) <br />At seoaration from service with the following restrictions <br />. :IS l\~+ e..'~~ lbl-i. 'h,r;- "~.:h('6~."Lt;'\t f'1'~WI. ~ C~ 1) <br />At age u. ":! · <br />At retirement and age <br />At retirement or age <br /> <br />15 <br />
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