HomeMy WebLinkAboutAGENDA REPORT 2018 0321 CCSA REG ITEM 10K CITY OF MOORPARK, CALIFORNIA
City of Moorpark
of March 21, 2018
ACTION Adopted Reso No.
2018-386388 rescinding Reso No
2009 2M�enson Item: 10.K.
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Ron Ahlers, Finance Director
DATE: March 9, 2018 (CC Meeting of March 21, 2018)
SUBJECT: Consider Resolution Rescinding Resolution No. 2009-2835, which
Suspended a Retirement Health Savings Program
BACKGROUND
In October 2004, the City Council passed Resolution No 2004-2249 which established
the VantageCare Retirement Health Savings Program (RHSP) for city employees This
program is offered by International City Manager's Association-Retirement Corporation
(ICMA-RC) and allows employees to save money, pre-tax, for future medical expenses
during their retirement years
The Internal Revenue Service (IRS) subsequently released Publication 969, which
placed numerous restrictions upon the RHSP At that time, the City employees
requested the RHSP be suspended from accepting new contributions The employees
who had money in the RHSP could keep their funds invested and use the program as
stipulated The City Council passed Resolution No 2009-2835 on July 1 , 2009 This
resolution suspended the RHSP
Since 2009, the IRS has made modifications to the regulations about the RHSP City
staff is now recommending that City employees be allowed to contribute into the revised
ICMA-RC RHSP The attached resolution rescinds Resolution No 2009-2835, thereby
allowing city employees the ability to contribute once again to the RHSP Staff
recommends this action be retroactive to December 1 , 2017
Staff will be scheduling a follow-up agenda item on a subsequent agenda to consider
amending Resolution No 2004-2249, including approval of a revised RHSP adoption
agreement
FISCAL IMPACT
None
STAFF RECOMMENDATION
Adopt Resolution No 2018-
Attachment Draft Resolution
103
ATTACHMENT
RESOLUTION NO. 2018-____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, UNSUSPENDING THE
VANTAGECARE RETIREMENT HEALTH SAVINGS
PROGRAM (RHSP) WITH THE ICMA RETIREMENT
CORPORATION AND RESCINDING RESOLUTION NO.
2009-2835
WHEREAS, Resolution No. 2004-2249 adopted on October 6, 2004, previously
established the Vantagecare Retirement Health Savings Program (RHSP); and
WHEREAS Resolution No. 2009-2835 adopted on July 1, 2009, suspended the
RHSP; and
WHEREAS, the City desires to unsuspend the RHSP and allow new enrollments
and new deposits into the RHSP.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. Resolution No. 2004-2249 is hereby unsuspended. The RHSP will
accept new enrollments and new deposits.
SECTION 2. This resolution shall be effective as of December 1, 2017.
SECTION 3. City Council Resolution No. 2009-2835 is hereby rescinded.
SECTION 4. The City Clerk shall certify to the adoption of the resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 21st day of March, 2018.
________________________
Janice S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk
104