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HomeMy WebLinkAbout32-05 - Res. Authorizing Establishment of Medical Savings Account RESOLUTION 32 - 05
RESOLUTION U H I I THE ESTABLISHMENT
F A MEDICAL SAVINGS ACCOUNT/VOLUNTARY EMPLOYEES '
BENEFICIARY ASSOCIATION ( 66MSA VEBA" ) PLAN
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 , such tax-exempt plans are available for public sector employees in
the Northwest ; and
WHEREAS , The Voluntary Employees ' Beneficiary Association for Public
Employees in the Northwest Trust offers and will administer a Plan entitled " Voluntary
Employees ' Beneficiary Association Medical Expense Plan for Public Employees in the
Northwest as Amended and Restated January 1 , 2004 ("the MSA VEBA Plan") ; and
WHEREAS , The County Board of Commissioners ("the County") has determined
that establishing a defined contribution medical expense reimbursement plan, which
provides a tax-free defined contribution account for employees to pay for medical , dental ,
vision, and tax qualified long term care expenses that are not paid by any other insurance
plans , is in the best interest of the County and its employees ; and
WHEREAS , the County desires to establish a medical expense reimbursement
plan for its employees ; and
WHEREAS , the County desires to use the services of the MSA VEBA Trust to
administer such plan ; and
WHEREAS , such defined contribution medical expense reimbursement plan
established by the County will be administered in accordance with the plan documents
provided by the MSA VEBA Trust on file in the County office .
NOW , THEREFORE , The Board of County Commissioners hereby resolves as
follows :
Section 1 . Effective April5 , 2005 , the County hereby elects to participate in
the Trust as presently constituted or hereafter amended using the MSA VEBA Trust as its
plan administrator, and establishes the MSA VEBA program for all eligible County
employees .
Section 2 . The Plan will be funded by voluntary individual employee accrued
leave balances upon retirement from the applicable Washington State employees
retirement system .
Section 3 . The County retains the right to modify or repeal this medical
expense reimbursement plan at its discretion without prior notification to the County' s
employees .
ADOPTED this 5 t h day of April , 2005 .
BOARD OF COUNTY COMMISSIONERS
ATTEST :
U
WJa ` i min , Chairp rs n
Rebecca S . Rogers
Clerk of the Board
L d9 Ring-Erickson, commissioner
A�PROVED AS TO FORM : (�
Tim Sheldon , Commissioner
Michael Clift
Chief Deputy Prosecutor