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R05-055 1 RESOLUTION NO. 05- 05"S 2 3 A RESOLUTION OF THE CITY COMMISSION OF 4 THE CITY OF BOYNTON BEACH, FLORIDA 5 APPROVING AND AUTHORIZING THE CITY 6 MANAGER TO EXECUTE THE NECESSARY 7 DOCUMENTS TO EST ABLISH THE CITY OF 8 BOYNTON BEACH'S PLAN IN THE FORM OF THE 9 ICMA RETIREMENT CORPORATION'S 10 VANTAGECARE RETIREMENT HEALTH SAVINGS 11 PROGRAM, AND PROVIDING FOR AN EFFECTIVE 12 DATE. 13 14 WHEREAS, the City Commission has reviewed the proposal advanced by the 15 International City Manager's Association to establish a Retiree Health Savings Plan; and 16 WHEREAS, the City has heretofore entered into an Agreement with the ICMA 17 Retirement Corporation to establish the VantageCare Retirement Health Savings Plan to which 18 the City's employees shall be eligible; and 19 WHEREAS, certain amendments to the existing Administrative Service Agreement are 20 required; and 21 WHEREAS, the City is required to adopt a Declaration of Trust to qualify the plan. 22 23 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF 24 THE CITY OF BOYNTON BEACH, FLORIDA AS FOLLOWS: 25 Section 1: Each Whereas clause set forth above is true and correct and incorporated 26 herein by this reference. 27 Section 2: The City Commission of the City of Boynton Beach, Florida 28 hereby approves the May 20, 2004 Letter of Amendment and the City Manager is 29 authorized to execute that document. 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 II Section 3: The City Manager is authorized to execute a Declaration of Trust which 2 document shall be reviewed and approved by the City Attorney and the City Director of 3 Finance. 4 Section 4. This Resolution shall become effective immediately upon passage. PASSED AND ADOPTED this 5" day of April, 2005. ATTEST: Yn.~ CITY OF BOYNTON BEACH, FLORIDA L ~ Commissioner CITY CLERK'S OFFICE MEMORANDUM TO: James Cherof City Attorney FROM: Janet M. Prainito City Clerk DATE: April 7, 2005 RE: Contracts and Agreements Approved by City Commission on 04/05/05 Attached are contracts and agreements that were approved by the City Commission at their regular meeting held on AprilS, 2005. These are documents that were inadvertently missed during your first review. Please review, sign and return to me for further processing. Thank you. NO. OF RESOLUTION # DOCUMENTS DESCRIPTION R05-055 1 Contract with VantageCare Retirement Health Savings Plan Attachments S:\CC\WP\AFTER COMMISSION\City Attorney Transmittals\Year 2005\04-05-05- #1.doc ReS" -055 May 20, 2004 John Jordan City of Boynton Beach City Hall 100 East Boynton Beach Boulevard Boynton Beach, Florida 33425-0310 Re: VantageCare Retirement Health Savings Plan No. 800801 Dear Mr. Jordan: This letter agreement will serve to amend the existing Administrative Services Agreement between City of Boynton Beach (the "Employer") and the ICMA Retirement Corporation ("ICMA- RC") to provide the City of Boynton Beach VantageCare Retirement Health Savings (RHS) Plan for Employer's eligible employees ("Accountholders"). The existing Agreement between Employer and ICMA-RC is hereby amended as follows: 1. Employer desires to make the RHS plan administered by ICMA-RC available to its employees. The details of the RHS plan shall be as mutually agreed between Employer and ICMA-RC, but in general shall be as set forth in the RHS plan materials developed by ICMA- RC and provided to Employer. RHS plan materials shall include the VantageCare RHS Employer Manual, available electronically through the EZ Link System upon plan adoption. 2. Employer agrees that this Addendum and the terms set forth and referenced herein shall be in effect for an initial term beginning on the date the Addendum is executed by the Employer below and ending 5 years after that date. The Addendum will be renewed automatically for each succeeding year unless written notice of termination is provided by either party no less than 60 days before the end of such extension year. 3. Absent an explicit agreement to the contrary between ICMA-RC and Employer, Accountholder fees and expenses shall be payable from RHS assets, in accordance with the requirements of the RHS plan as set forth in paragraph 9 below. 4. Each Accountholder will receive a consolidated quarterly statement providing information for any deferred compensation plan, qualified plan or RHS account maintained by each Accountholder and administered by ICMA-RC. 5. Tax withholding and reporting will be provided by ICMA-RC and its agents in conjunction with the Employer for each RHS Account administered by ICMA-RC. 6. Information required to be retained by the employer shall be set forth in the RHS plan materials developed by ICMA-RC and provided to Employer. 7. The details of ICMA-RC's administration of the RHS plan, as well as other features of the RHS plan, shall be as set forth in RHS plan materials. The RHS plan materials are hereby incorporated by reference and made a part of this Agreement, except that Employer and ICMA-RC may from time to time mutually agree in writing to terms that vary from the RHS plan materials. 8. The Employer understands that, as a general matter, the Internal Revenue Service ("IRS") may decline to rule on certain design features or provisions that the Employer may request to have added to the RHS plan materials. The Employer agrees to hold ICMA-RC harmless in connection with the addition and administration of any RHS plan feature or provision requested by the Employer for which the IRS will not provide express interpretive guidance. 9. Accountholder's account administration fees will be paid from RHS assets according to the following schedule: a. Employer with ICMA-RC 9401 and 9457 retirement plan average participant account balances of $25,000 or more: A $30 annual account fee will be charged to each Accountholder's account. The fee will be charged against the account on a quarterly basis. In addition, an annual asset fee of 0.30% (30 basis points) will be charged on a quarterly basis, based on the balance in the account on the last day of the previous quarter. b. Employer with ICMA-RC 9401 and 9457 retirement plan average participant account balances of less than $25,000, or Employer who does not currently have a retirement plan with ICMA-RC: A $30' annual account fee will be charged to each Accountholder's account. The fee will be 'charged against the account on a quarterly basis. In addition, an annual asset fee of 0.40% (40 basis points) will be charged on a quarterly basis, based on the balance in the account on the last day of the previous quarter. When the average participant account balance of the Employer's 9401 and 9457 retirement plans with ICMA-RC totals $25,000 or more (based on the balances in the Employer's retirement plans on the last day of the previous quarter), the pricing detailed in paragraph 9.a. shall apply beginning in the subsequent quarter. For De Minimis account payments (as defined in the RHS plan materials), there will be a fee of $25 collected at the time of disbursement. Account administration fees are subject to change with appropriate prior notification. If City of Boynton Beach finds these terms agreeable, please so indicate by having the appropriate person sign and date this letter agreement in the space indicated below. Very truly yours, III :t,i.d;f Paul Gallagher KURT BRESSNER Corporate secre~taryCITY MANAGER BOYNTON BEACH. Fl Agreed: Authorized Official / J/j ;96lo~ Date d.d 1'1/0:; <ft.. CITY ATTORNEY 2 EMPLOYER VANTAGECARE RETIREMENT HEALTH SAVINGS (RHS) PLAN ADOPTION AGREEMENT ROS-05S Plan Number: 8 00<60 I Employer Retirement Hea:LsaVing~Plan ,meL c.lyf~rl....l1.,.A~i;~..fll~ ~ny>A... I. Employer Name, C, '! {f/"Y'l rtv....-f/~ State, H II. The Employer hereby attests that it is a unit of a state or local government or an agency or instrumentality of one or more units of a state or local government. III. The Effective Date of the Plan, If r ~ IV. The Employer intends to utilize the Trust to fund only welfare benefits pursuant to the following welfare ben- efit plan(s) established by the Employer: V. Eligible Groups and Participant Eligibility Requirements A. The following group or groups of Employees are eligible to participate in the VantageCare Retirement Health Savings Plan: All Employees X All Full-Time Employees Non-Union Employees Public Safety Employees -- Police Public Safety Employees -- Firefighters General Employees Collectively-Bargained Employees (Specify unit) A I I , Other (speciW b~lo"Y) / Ifl( I'v't7/-ee-$ lJ,'~ .e(I~/~/-(_ aCC/t4c,/$ The group specified must correspond to a group of the same designation that is defined in the statutes, ordi- nances, rules, regulations, personnel manuals or other material in effect in the state or locality of the Employer. If the Employer's underlying welfare benefit plan or funding under this VantageCare Retirement Health Savings Plan is in whole or part a non-collectively bargained, self-insured plan, the nondiscrimination requirements of Internal Revenue Code (IRC) Section 105(h) will apply. These rules may impose taxation on the benefits received 11 by highly compensated Employees if the Plan discriminates in favor of highly compensated Employees in terms of eligibility or benefits. The Employer should discuss these rules with appropriate counsel. B. Participant Eligibility 1. Minimum period of service required for participation is ~(Write N/A if an Employee is eligible to partici- pate or to elect to participate immediately upon employment). 2. Minimum age required for eligibility to participate is Al# (write N/A if no minimum age is required). VI.Contribution Sources and Amounts A. Mandatory Contributions o 1. Direct Employer Contributions The Employer shall contdbute on behalf of each Participant {+/o of earnings or $__ for the Plan Year. Definition of earnings: 1tIi4- ! o 2. Mandatory Leave Contributions The Employer will make mandatory contributions of leave as follows: Accrued Sick Leave* 0 Yes 0 No Accrued Vacation* 0 Yes 0 No Other* (describe) AI /11- o Yes o No * Please provide the formula for determinin Accrued Leave contribution: An Employee shall not have the right to discontinue or vary the rate of annual leave contributions. o 3. Mandatory Employee Compensation Contributions The Employer will make mandatory contributions of Employee compensation as follows: o Reduction in Salary - _% of earnings (as defined in VI.A.1.) or $~ will be contributed for the Plan Year. o Decreased Merit or Pay Plan Adjustment - Allor a portion of the Employees' annual merit or pay plan adjustment will be contrib as follows: An Employee shall not have the right to discontinue or vary the rate of mandatory contributions of Employee compensation. 12 13 C. Limits on Total Contributions The total contribution on behalf of each Participant (including both Mandatory and Elective Contributions) for each Plan Year shall not exceed the following limit(s): I' 1'J;t- % of earnings (as defined in VIA1-) o $ . )81 There is no Plan-defined limit on the percentage or dollar amount of earnings that may be contributed. Limits on individual contribution types are defined within the appropriate section above. See Section V.A. for a discussion of nondiscrimination rules that may apply to non-collectively bargained self- insured Plans. 14 VII. Vesting Schedule A. The account is 100% vested at all times, unless specified otherwise in B. below. B. The following vesting schedule applies to Direct Employer Contributions outlined in VI.A.1: Yea rs of Service Completed Specified Percent Vesting _% % It! iI-= ~ 1/1 _ % _% % _% % C. The account will become 100% vested upon the death, disability, retirement, or attainment of benefit eligibility by a Participant. Definition of retirement: 1/tl , D. Any period of service by a Participant prior to a rehire of the Participant by the Employer shall not count toward the vesting schedule outlined in B. above. VIII. Forfeiture Provisions Upon separation from the service of the Employer or upon reversion to the Trust of a Participant's account assets remaining upon the participant's death (as outlined in Section XI), a Participant's non-vested funds shall: o Remain in the Trust to be reallocated among all Plan Participant's as Direct Employer Contributions for the next and succeeding contribution cycle(s). o Remain in the Trust to be reallocated on an equal dollar basis among all Plan Participants. o Remain in the Trust to be reallocated among all Plan Participants based upon Participant account bal- ances. ~ Revert to the Employer. In the case of separation from service, the Participant's non-vested funds shall be applied as shown above. In the case of reversion due to the Participant's death under Section XI, the remaining account assets shall be applied as shown above. IX. Eligibility Requirements to Receive Medical Benefit Payments from the VantageCare Retirement Health Savings Plan A. A Participant is eligible to receive benefits: >< At retirement only (as defined in Section VII.C.) At separation from service with the following restrictions At age only At retirement and age At retirement or age 15 B. Termination prior to general benefit eligibility: A Participant who separates from the service of the Employer prior to attaining benefit eligibility as outlined in Section IX.A. or C. will be eligible to receive benefits: ~ Immediately upon separation from service. o At age C. A Participant who dies or becomes totally and permanently disabled (as defined by the Social Security Administration) will become immediately eligible to receive medical benefit payments from his/her VantageCare Retirement Health Savings Plan account. X. Permissible Medical Benefit Payments Benefits eligible for payment consist of: A. '{.. All Medical Expenses eligible under IRC Section 213* other than direct long-term care expenses, OR B. The following Medical Expenses (select only the expenses you wish to cover under the VantageCare Retirement Health Savings Plan): Medical Insurance Premiums Medical Out-of-Pocket Expenses* Medicare Part B Insurance Premiums Medicare Supplement Insurance Premiums COBRA Premiums Dental Insurance Premiums Dental Out-of-Pocket Expenses* Long Term Care Insurance Premiums Other (Must be eligible under IRC Section 213)* * See Section V.A. for a discussion of nondiscrimination rules which may apply to non-collectively bargained, self-insured Plans. XI. Death Benefit In the event of a Participant's death, the following shall apply: Account Transfer: The surviving spouse and/or surviving eligible dependents (as defined in Section XIII.F.) of the deceased Participant are immediately eligible to maintain the account and utilize it to fund eligible medical bene- fits specified in Section X above. Upon notification of a Participant's death, the Participant's account balance will be transferred into the Vantagepoint Money Market Fund*. The account balance may be reallocated by the surviving spouse or dependents. * Please read the current prospectus carefully prior to investing. An investment in this fund is neither insured nor guaranteed and there can be no assurance that the Fund will be able to maintain a stable net asset value of $1.00 per share. Vantagepoint Mutual Funds are distributed by ICMA-RC Services, LLC, a controlled affiliate of ICMA Retirement Corporation. Member NASD/SIPC. If a Participant's account balance has not been fully utilized upon the death of the eligible spouse, the account balance may continue to be utilized to pay benefits of eligible dependents. Upon the death of all eligible depend- ents, the balance will be available for medical benefits for the designated beneficiary of the last dependent or spouse to die. Assets remaining upon the death of a designated beneficiary shall be available for medical bene- fits of the beneficiary's designated beneficiary. If there is no living beneficiary(ies), the account will revert to the Plan to be applied as specified in Section VIII. 16 _~"'. ;!"__~~"_"",_,,",,,~,".',.,.,,,.,ruc...,_,", There will be no elective withholding of federal, state, or local taxes for medical benefit payments to the Participant's spouse's or dependent's designated beneficiary(ies). If there are no living spouse or dependents at the time of death of the Participant, the account will be available for medical benefits for the designated beneficiary(ies) of the Participant. Assets remaining upon the death of all designated beneficiaries shall be available for medical benefits of the beneficiary's beneficiary. If there is no liv- ing beneficiary(ies), the account will revert to the Plan to be applied as specified in Section VIII. There will be no elective withholding of federal, state, or local taxes for medical benefit payments to the Participant's beneficiary(ies) or any beneficiary's beneficiary. XII. De Minimis Accounts Upon separation from the service of the Employer prior to a Participant becoming eligible for medical benefits from a VantageCare Retirement Health Savings Plan account, Participant accounts that are considered de min- imis as specified below will be paid to the Participant. o The de minimis account value shall be $5,000 or less. o The de minimis account value shall be $ $5,000) or less. (insert dollar amount between $0 and f1. The Plan shall not allow de minimis account distributions. XIII. The Plan will operate according to the following provisions: A. Employer Responsibilities 1. The Employer will submit all VantageCare Retirement Health Savings Plan contribution data via electronic submission. 2. Participant status updates and/or changes or personal information updates and/or changes (Participants' termination dates, Participants' benefit eligibility dates, etc.) will be provided via electronic submission. B. Participant account administration fees will be paid through the redemption of Participant account shares, unless agreed upon otherwise in the Administrative Services Agreement. C. Employer plan fees will be paid by the Employer as outlined in the Administrative Services Agreement. D. Assignment of benefits is not permitted. E. Payments to an alternate payee (payee other than a Participant) are not permitted with the exception of reim- bursement of health insurance premiums to the Employer. F. An eligible dependent is the Participant's lawful spouse and any other individual who is a person described in IRC Section 152(a). G. The Employer will be responsible for withholding, reporting and remitting any applicable taxes, as outlined in the VantageCare Retirement Health Savings Plan Employer Manual. XIV. The Employer hereby acknowledges it understands that failure to properly fill out this Employer VantageCare Retirement Health Savings Plan Adoption Agreement may result in the loss of tax exemption of the Trust and/or loss of tax-deferred status for Employer contributions. 17 EMPLOYER By: Title: Attest: Accepted: Vantagepoint Transfer Agents, LLC ~ ~ a. ~~ Corporate Treasurer 18 ," ~",,,,,,,,,,"-~--_..;.....>,,,..,"..,,....^ VantageCare Retirement Health Savings Plan Implementation Data Form - Page 1 ~ Instructions to Employer: Provide necessary information to establish your plan properly. Please contact your New Business Analyst at 1-800-326-7272, if you have any questions. ICMA RETIREMENT CORPORATION ICMA-RC Use Only 1. Employer # General Information 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 13. Plan Implementation 14. Information 19021 Employer's Full Name: c; if f tfovlf ~ ;Jb::l~ (924) Street Address: I eN) ~~F;)Chlt/~ 6-t:tJtt.A IYth/;;wv) (925) ( (9181 C;ty ~/( ~ ;>~L (919) State: r~ (920) Zip Code: "7"7'-1 z..~ (633) Primary Contact: ;1 II ~H1J1(.-.I'JJ-- (634) Primary Contact Title: P;:R"'~_ i)./~~r (631) Primary Contact Telephone #: L.~.L) '7t(Z--~ ~ II (632) Fax#: (~LJ 7tfZ-- ~?10 (PTOO) E-mail Address:mif...#?e/IiJ~c:J.boYI1~-/J~.II.tt5 (882) Employer's Federal Tax Identification Number: 57 6 OOtJ 2--32-. # of Employees: 92-? 12. # of Employees Eligible for Plan Participation: '117 # of Employees Eligible to Receive Medical Benefits: q /7 Plan Level Quarterly Statements: (Note: * = default) a. Sort Order: (629) 0 S=SSN* ~ N=Name b. Output Media: (627) rj/. P=Paper* 0 M=Microfiche c. Type: (626) ~ S=Summary* 0 D=Detail o B=Bound 15. (611) Contribution Information: (Note: * = default) a. Frequency: (check one): 0 (0) Bi-weekly* 0 (4) Monthly o (1) Weekly 0 (5) Semi-Monthly o (2) Semi-weekly 0 (6) Bi-quarterly o (3) Bi-monthly 0 (7) Quarterly ~ ( ) Other: 14f7'1. St'/lhrl't 1,;- r , / b. Deposit Medium: (624) ~ Check * 0 Wire 0 EFT o (8) Semi-quarterly o (9) Bi-annually o (10) Annually o (11) Semi-annually c. Data Medium: EZ Link Required to participate in RHS Plan d. First Contribution Date Following Implementation: ICMA Retirernent Corporation' Attn: Records Management Unit. P.O. Box 96220 . Washington, DC 20090-6220 . Toll Free 1-800669-7400 20 VantageCare Retirement Health Savings Plan Implementation Data Form - Page 2 Plan Contacts Of any item #16-21 is left blank, the Primary Contact in #5 will receive mailings Payroll Contact Information 16. PT01 Contact Signature: (200l Contact Name: Please indicate (200) Contact Title: alternate addresses in (420) Telephone: (_) Fax: ( Coments Section 17. PT08 Contact Signature: (200) Contact Name: (200) Contact Title: (420) Telephone: (_l Fax: ( 18. PT09 Contact Signature: (200) Contact Name: (200) Contact Title: (420) Telephone: (_) Fax: ( Contribution 19. PT02 (200) Contact Name: Contact (200) Conta ct Title: Information (420) Telephone: (_) Trustee Contact 20. PT10 (200) Trustee Name: Information (200) Trustee Title: , (200) Trustee Address: Street City State (420) Telephone: (_l Billing (Fees) 21. PT06 (200) Contact Name: Contact (200) Conta ct Title: Information (420) Telephone: (_) Comments: (Alternate Addresses for #16-21 ) Internal Use Only 641 912 608 ~ ~ ~ ~ ICMA RETIREMENT CORPORATION -) -) _l Fax: (_) Zip Fax: (_) Fax: (_) ICMA Retirement Corporation. Attn: Records Managernent Unit. PO. Box 96220. Washington, DC 20090-6220. Tol' Free 1-800669-7400 21 EZLINK ACCESS FORM For internal NBU use only: User 10: C ~Llnk___ ~ 1 _Initial Access Request o Change Access Request ICMA RETIREMENT CORPORATION First Contributio~te Following Plan Implementat;or " ~~tI,~~~ PI"." / Plan Coordinator Information ('This inkxmatioo rrvstbe canpleted to 8lfJid processiry delays.) 2 You must provide the "Password Holder Information" to establish a User id and password for the Plan Coordinator. Total Number of User ID's: o Delete User 10 Password Holder Information and On.line Withdrawal Option %(-?4Z--?~/( email Address:J#fIlIl/JIf. e C/: ~l/H F -~. II.u7 Access: Balances/lnquiry '}C.V _N . Contributions & Loan Repays: Enrollments/Rehires -,;;;cV N File Transfer ~V _N Participant Changes LV =N On-Line Entry V _N (name, address, etc.) On-line Withdrawals V _N .......................................;.... ..,........j................................. :.::~.............................................................................. ~::~~ or,1,h:ng~H.J..~~ J - D D.,... U.e"D TItI., ~~ .f-l3t"'fL!:l ~."',.u.. ,a~ . / Phone #, . _ '1&"7:. 7'f 2- - &,Z 7 I Emell Addressj""';" -0 "c.i.liP~ _ Access: be~, ifl. it. ~ Balances/lnquiry tv ~N Contributions & Loan Repays: ~ Enrollments/Rehires V _N File Transfer V _N Participant Changes V _N On-Line Entry V _N (name. address. etc.) On-line Withdrawals ~ V _N u'~'~';'i~' '(i;'" .~..~~~~)........: .. ..t;................... ci" ~'~I'~~~' u~.~;. i~""""""""""'''''''''''''''''''''''''''''''''''''''''''''''''' Name: ' . , Tit/e: Phone #: Access: Balances/Inquiry Enrollments/Rehires Participant Changes (name. address. etc.) fV_N V N V_N Emell Addres", ~ · . III ~ C/. r" - . , bUtd.. . k$ Contributions & Loan Repays: File Transfer On-Line Entry On-line Withdrawals ~V_N ...c.V N ~Y_N ~~_.!J.!.""""""""""""'."'! User 10 (if ch nge) 11 I Name: r Title: 4h I' I. Phone #: % 1- If trz.- - ~ ., I , Access: Ba lances/lnqu iry Enrollments/Rehires Participant Changes (name, address, etc.) ......._.....I-L.L.~_..........-O......-L.a-.O-."..._....O'-.~..__...............................................Ul.-..........'0_'_______ o Delete User 10 iV_N V _N V _N Contributions & Loan Repays: File Transfer On-Line Entry On-line Withdrawals Please fax your completed EZLink Access Form to the "EZLink Administrator" at 1.202.962-4601. FRMooO-019-2oo309 EZLINK ACCESS FORM UnIt ~ 2 Password Holder Information and On-line Withdrawal Option (continued) 3 System Recommen- dations 4 Plan Coordinator Approval ICMA RETIREMENT CORPORATION User 10 (if a change) Name: Title: Phone #: Access: Balances/Inquiry Enrollments/Rehires Participant Changes (name, address, etc.) o Delete User 10 Email Address: _Y_N _Y_N _Y_N Contributions & Loan Repays; File Transfer On-Line Entry On-line Withdrawals _Y_N _Y_N _Y_N ...................,....................................................................................................................................................... On-Line Withdrawals - select one choice below: ,r Pre-Approval The employer will provide ICMA-RC with termination dates for all participants and this information may be used as our authorization to permit disbursements from participant accounts. .-.::., o Post-Appoval The employer wants to review each participant withdrawal request and will approve/deny each accordingly. The minimum supported hardware and software for...;f~ink is: V' Netscape Navigator Version 4.5. OR Microsoft Internet Explorer 5.0 V' 1288it Encryption V' High speed Internet access or minimum 56K modem V' Pentium class PC 1- V' Windows NT, 1995 or later OTHER- SYSTEMS ARE NOT RECOMMENDED ICMA-RC considers participant information to be highly confidential. and we go to great lengths to avoid breaching that confidentiality. For this reason. ICMA-RC cannot be responsible for (i) negligent or Intentional misuse of the PIN by the [the municipality's] officers, employees. agents or contractors, (Ii) a breach of confidentiality that may occur as a result of such negligent or Intentional misuse of the PIN. or (Iii) a breach of confidentiality that may occur as a proximate result of the [municipality's] access to the participant database. If the [municipality's] uses EZUnk online transactiol1 process- ing. please remember to review all financial information you have entered for your participants, as ICMA-RC is not responsible for incorrect data transmitted by the [municipality]. ICMA-RC recommends that you encourage all partici- pants to review confirmations for accuracy. The Retirement Corporation's home page is normally available 24 hours a day, seven days a week. However. service availability is not guaranteed. Neither the Retirement Corporation or its affiliates. the Retirement Trust. nor The Vantagepoint Funds will be responsible for any loss (or forgone gain) you may incur asa result of service being unavail- . aDre~---. - -~ . -~- -. -- ning in the space indicated below. You may fax this signed -202-962-4601. We will then provide you witH your User 10(s) and ou have questions, please call Employer Services at Agreed: Date: 7 -z- "Z -cJr- Form to the "EZLink Administrator" at 1.202.962-4601. FRMOOo-019-200309 EZLINK ACCESS FORM INSTRUCTIONS Link ~ Who should use the EZLink Access form? ICMA RETIREMENT CORPORATION Plan Sponsors who would like to receive an EZUnk USER 10 and password for the first time and those who would like to change the access on a particular USER 10. 1 Please provide the name of the person at your p Plan person should also authorize access at the end Coordinator coordinator, please call the Employer Services Information Eastern Time. 2 If this is an "Initial Access Request", please co members that are to be assigned User ID's and Password access for the features listed below: Holder Information Balances/lnquil)f: access plan and parti and and investment alloc On-line Withdrawal Enrollments/Rehires: enroll or rehire a par Option Participant Changes: update participant in phone number Contribution & loan Repayments Detail: File Transfer: submit a pre-formatt format) On-Line Entry: process contribution a base, or start from On-Line Withdrawals: employer approval f If this is a change, please make sure to enter th To reassign this User 10 to a new staff memb information including their level of access. To update the current password holder's info To remove this User 10, check the "Delete Us on file for this User 10 and make it available f 3 This section outlines the systems recommendat System EZUnk. If you have any questions regarding th Recommen- ICMA-RC Webmaster at www.icmarc.org and dations: 4 Please have the plan coordinator sign and dat Plan Coordinator Approval Ian who is designated as the plan coordinator. This of this form. If you want to verify your current plan Unit at 1-800-326-7272 between 8:30 a.m. and 7:30 p.m. mplete the password holder information for all staff passwords. Please be sure to include their level of cipant level information, including balances ations ticipant on-line formation such as name, address, marital status, title, ed contribution & loan repayment file (in ICMA-RC s and loan repayments on-line using a prior payroll as scratch or participant on-line withdrawal requests e staff members current User 10. er, please provide the new users password holder rmation, enter the new information. er 10" box. This will remove all information currently or future use. ions for accessing and processing on-line using ese recommendations, please send an email to the select" Contact Us." e this EZLink Access Form. Please fax your completed EZLink Access Form to the "EZLink Administrator" at 1-202-962-4601. FRMOOO.019.200309 .iC11\~i~..gI9Iez.'inkl HUnk gives you electronic access to a wide range of plan specific information, transaction processing capabilities and keeps you up_to-date on the latest in plan changes, As a user you're able to access the information you need, when you need it. Join the hundreds of employerS who have access to the following options: It's easy ro become an HLink partner _ simply compiete and return the attached HLink Access form, Once you have sigr and returned the form, you will be assigned an HLink User 10 and password, 10 ensure proper security, your HLink pass' will be sent via U.s. mail within 7 -10 business da'js. . Netscape Navigator 4.5 or higher with 128 bit encr'jption . Microsoft Internet Explorer 5.0 or higher . Hi h-s eed Internet access or minimum 56K modem N01E', HLink data is protected by encryption using SSL lSecure Socket Layer) protocol, so you knOW your date Plan and Participant Inqui~ . Account balances . Allocation percentages . Transaction history Transaction Processing features . Enrollments/Rehires' . Contributions and loan repayments' . Participant Changes' . Add/Update Employer Contact Information . Employee withdrawals with on-line employer approval (available 4th quarter 2003) . Send an ICMA-RC preformatted file or enter on-line 10 take full advantage of HLink, we recommend the following: Enhanced Reporting . Contribution limit tracking . Participant YTD Contributions . Contribution reconciliatiOn . Participant contribution report . Statements on demand . New! _ Quarterly Plan and Participant Statements . New! _ Asset Allocation and Asset Change Report . New! _ Transaction summary Report . New! _ Roll-in and Roll-out Report . New! - Enrollment Report . New! _ Participant Information (Indicative & BalanCE Employer Ubra~ . Tap into a wide range of information specifiCallY gean to employerS . Request Fulfillment . On-line Perspective . Pentium processor . 32-bit operating s'jstem (WindoWS 95+/Windows NT) f ICMA R~,"m"'t C~p",Ii'" . 111 N "'pitOI SU~" N[ . W,,,,"""', OC 20002 1_800-326-7272 . WVN',lcmarc,org 777 North Capitol Street, NE Washington. DC 20002-4240 1_202-962-4600 FAX 1_202-962-4601 Toll Free 1_800-669-7400 1ntemet: http://www.icmarc.org WIRE, ACH and CHECK INSTRUCTiONS Dear RC Employer: Bdow ," \he instrUctions fo' ""bcoitting fnn& to IcMA Rctiremen' Cocpocation fo' crediting '0 particip"'t acen-. This infonnation haS \)ecn providcd to cns"'c timdy pen""ing of yo", plan', contribntion, to thc V",,,"cpoint Transf" Ag-. In onic, co pen"" yo", contribntions ,nicldy and acc",atdy, tbc IcMA RclITccocut Cocpocation haS '"l'",te ",d dffitinct b_ ,nd mailing instrUCtion' fo' cach of YOU< plan,. Pie"c"", tbc chart bdow to idontily \he corroct infonnation fo' you< ,",ocific pI'" whon ,.,bcoitting conttibntioru; to n'. As eoch add'ess ~ diff"ent, pleo" do not combine "po""e pIon contribndons in the same moiling. plan Wires ACH Checks 457 M&TBANK M & T BANK-457 Vantagepoint Transfer Agents - 457 ABA#:022-000-046 ABA#: 052 000 113 C/OM&TBANK Vantagepoint Transfer Agents - 457 Account #: 425-3800-1 P.O. Box 64553 Account #: 425-3800-1 Ppt 10: 30XXXX (Plan #) Baltimore, MD 21264-4553 OBl:30*XXXXnunddYYYY Reference Plan # on check stub (Plan # and vavroll date) 401 M&TBANK M & T BANK-401 Vantagepoint Transfer Agents - 401 ABA#: 022-000-046 ABA#: 052 000 113 C/OM&TBANK Vantagepoint Transfer Agents - 401 Account #: 425-3798-1 P.O. Box 64668 Account #: 425-3798-1 Ppt 10: 10XXXX (Plan #) Baltimore, MD 21264-4668 OBI: 10*XXXXnunddyyYY Reference Plan # on check stub (Plan # and vavroll date) *IRA M&TBANK M&TBANK Vantagepoint Transfer Agents ABA#: 022-000-046 ABA#: 052 000113 C/OM&TBANK Vantagepoint Transfer Agents Account #: 895-5902-9 P.O. Box 64636 Account #: 895-5902-9 Ppt ID: 70XXXX (Plan #) Baltimore, MD 21264-4636 OBI:70*XXXXnunddYYYY Reference Plan # on check stub (Plan # and vavroll date) RHS M& T BANK M&TBANK Vantagepoint Transfer Agents ABA#: 022-000-046 ABA#: 052 000 113 C/OM&TBANK Vantagepoint Transfer Agents Account #: 895-5902-9 P.O. Box 64636 Account #: 895-5902-9 Ppt 10: 80XXXX (Plan #) Baltimore, MD 21264-4636 OBI: 80*XXXXmmddyyyy Reference Plan # on check stub (Plan # and vavroll date) *Payroll Deduction IRA Not"'. [f you< contribution is ,ent to any _os' othc, than tbc onc ,pecificd fo' cach pI'" abovc, it may delay thc invc,tmen' of yo, contnbutton. Wire,A< Check InstI Updated:O Pag' leMA "ETI"EMENT e."..."ATI.N The lIua'ic service VOlntOl~ell.int since 1 !J77 777 North Capitol Street, NE Washington, DC 20002-4240 1-202-962-4600 FAX 1-202-962-4601 Toll Free 1-800-669-7400 Internet: http://www.icmarc.org Wire and ACH information WIRES: You must include your plan number where *XXXX is reflected. plus the current payroll date. in the OBI field for each wire, to ensure timely processing. ACH: You must include your plan number where *XXXX is reflected. to ensure timely processing. It is extremely important that your participant detail breakdown be received prior to or at the same time as your remittance, when using the wire or ACH methods. Detail received after the receipt of funds will be credited upon receipt of confonning detail (see Employer Manual for definition of confonning detail). Checks Please be sure to include your printed participant detail breakdown with your check to ensure it is received at the same time as your remittance. If you are sending your file electronically, please ensure that the detail is received prior to or at the same time as your check. Detail received after the receipt of funds will be credited upon receipt of conforming detail. Please refer to the Employer Manual for definition of confonning detail and the bulletin that was mailed out late December 1999 regarding the new processing policies instituted beginning January 2000. Detail submission should be submitted electronically for all wires and ACHs, however, if detail is mailed it should be sent via the following: Fax # ATTN: PLAN CONTRIBUTION SERVICES UNIT 202-962-4601 or Overnight Mail: ICMA Retirement Corporation 777 North Capitol Street NE, Suite 600 Washington, DC 20002-4240 ATTN: PLAN CONTRIBUTION SERVICES UNIT If you have any questions regarding this instructions or interest in submitting your detail electronically, please contact the Investor Services Unit at 1-800-326-7272. ICMA ftETlftEMENT Ceft..eftATleN The jeu.lic service V~nt~!leje.int since 1 ~72 Wire, ACH and Check Instructions Updated:05/21/04 Page 20f 2 NON-CONFORMING FORMATS In situalions Where the contribution/loan repayment amount remittoo differs ~om the SUm of the detail records provided, investment of the COntributions and loan repayments will be delayed until the difference is resolved. If the difference cannot be resolvoo Within 7 business days, ICMA.RC Will return the money to the employer, unless alternative instructions are received. UNBALANCED CONTRIBUTIONS/LOAN REPAYMENTS ~ - --"'L.~'IVG POLICIES FOR CONTRIBUTIONS AND LOAN REPA YMENTS In order 10 provide the most e/licieni and oependable service POssible to all of OUr valued CUstomers, ICMA.RC has established the fOllOWlOg POhcles re/atoo to COntribOtic'n and loan repayment processing, effective January 7, 2000. Non-conforming submittals of COntribulion/loan repayment detail records are typically paper dOcuments printed ~om an emplOyers payroll system or other electronic files not formatted aCCOrding to ICMA-RC specifications. PrOCeSsing lime for non-confonning submittals can be Significantly longer than for COnformmg formats. Consequently, While ICMA-RC Will strIVe to prOCess non'Conform_ ing submittals as timely~s POssible, wemay take up to 5 business days to reconcile. The COntributions and loan repayments Will not be invested during this time. The fOllowrng table prOVIdes the processrng turnaround standards for non.conformrng submrttals. NRfADABlE OR ERRONEOUS FlUS . . detail file is lOt reacable (e.g., formatting problem, in-transit damage) or does not contam current I COntribution / loan repayment d loan .paY".nts will be delayed until the employer prOVides a readable replacement frle a, investment of the contnbut:~~:~c will Initiat'wntact With the employer the day the File is received. h current data, In sLlch cases, NTS NOT ENROllED '" RTlCIPA . . who have not 'en enrolled in the plan cannot be mvested. In Such cases, ICMA.RC WIll. ",butions received for partlCrpantsnext business V to request the required enrol/ment lI]formatlm If ICMA.RC does not receIVe 'te contact with the employer th~ I e close of ttthird business day fOl/oWlOg receIpt of the COntributIon, the COntnbutlon :equired enrollment informatIon/bY t 1 Jnt will be refunded to the emp oyer, Number of COntributing Number of Business Participants Days to Process 50 or fewer 2 ------------- r------- 5L:~~_____ 3 "-.. -'. -. "-'.. .~~- ". "--. 700 - 299 4 300 or more 5 , 'bution File Creation c Link On-line Contfl. ICMA-RC Record Form; r link Data Transfer 10 . - tat,'ve at "326-1272 to receiVe additional information about these Optrons. . es represen ( ~ call an Employer Servlc ~ The PUbliC SeClor E;.;r.;err c Ii YOOO.023.200207 DECLARATION OF TRUST OF THE CITY OF BOYNTON BEACH INTEGRAL PART TRUST Declaration of Trust made as of the .6-t:A... day of [1 f ~ ~J!..J , 2005, by and between the City of Boynton Beach, Florida, a Municipality, (hereinafter referred to as the "Employer") and William Mummert, Finance Director (hereinafter referred to as the "Trustee"). RECITALS WHEREAS, the employer is a political subdivision of the State of Florida, exempt from federal income tax under the Internal Revenue Code of 1986; and WHEREAS, the Employer provides for the security and welfare of its eligible employees (hereinafter referred to as "Participants"), their Spouses, Dependents and Beneficiaries by the maintenance of one or more post-retirement welfare benefit plans, programs or arrangements which provide for life, sickness, medical, disability, severance and other similar benefits through insurance and self-funded reimbursement plans (collectively the "Plan"); and WHEREAS, it is an essential function and integral part of the exempt activities of the Employer to assist Participants, their Spouses, Dependents and Beneficiaries by making contributions to and accumulating assets in the trust, a segregated fund, for post- retirement welfare benefits under the Plan; and WHEREAS, the authority to conduct the general operation and administration of the Plan is vested in the Employer or its designee, who has the authority and shall be subject to the duties with respect to the trust specified in this Declaration of Trust; and WHEREAS, the Employer wishes to establish this trust to hold assets and income of the Plan for the exclusive benefit of Plan Participants, their Spouses, Dependents and Beneficiaries. NOW, THEREFORE, the parties hereto do hereby establish this trust, by executing the Declaration of Trust of City Of Boynton Beach Integral Part Trust (hereinafter referred to as the "Trust"), and agree that the following constitute the Declaration of Trust (hereinafter referred to as the "Declaration"): 1 ARTICLE I 1.1 Definitions. For the purposes of this Declaration, the following terms shall have the respective meanings set forth below unless otherwise expressly provided. (a) "Account" means the individual record keeping account maintained under the Plan to record the interest of a Participant in the Plan in accordance with Section 7.4. (b) "Administrator" means the Employer or the entity designated by the Employer to carry out administrative services as are necessary to implement the Plan. (c) "Beneficiary" means the Spouse and Dependents, or the person or persons designated by the Participant pursuant to the terms of the Plan, who will receive any benefits payable hereunder in the event of the Participant's death. A Beneficiary may also designate a beneficiary (ies) to receive any benefits payable hereunder in the event of the preceding Beneficiary's death, until the satisfaction of all liabilities under the Plan to provide benefits. In the case where there is no designated Beneficiary, any amount of contributions, plus accrued earnings thereon, remaining in the Account must, under the terms of the Plan, be returned to the Trust. (d) "Code" means the Internal Revenue Code of 1986, as amended from time to time. (e) "Dependent" means an individual who is a person described in Code Section 152(a). (f) "Investment Fund" means any separate investment option or vehicle selected by the Employer in which all or a portion of the Trust assets may be separately invested as herein provided. The Trustee shall not be required to select any Investment Fund. (g) "Non-forfeitable Interest" means the interest of the Participant or the Participant's Spouse, Dependent or Beneficiary (whichever is applicable) in the percentage of Participant's Employer's contribution, which has vested pursuant to the vesting schedule specified in the Employer's Plan. A Participant shall, at all times, have a one hundred percent (100%) Non- forfeitable Interest in the Participant's own contributions. (h) "Spouse" means the Participant's lawful spouse as determined under the laws of the state in which the Participant has his primary place of residence. (i) "Trust" means the trust established by this Declaration. 2 (j) "Trustee" means the Employer or the person or persons appointed by the Employer to serve in that capacity. ARTICLE II Establishment of Trust 2.1 The Trust is hereby established as of the date set forth above for the exclusive benefit of Participants, their Spouses, Dependents and Beneficiaries. ARTICLE III Construction 3.1 This Trust and its validity, construction and effect shall be governed by the laws of the State of Florida. 3.2 Pronouns and other similar words used herein in the masculine gender shall be read as the feminine gender where appropriate, and the singular form of words shall be read as the plural where appropriate. 3.3 If any provision of this Trust shall be held illegal or invalid for any reason, such determination shall not affect the remaining provisions, and such provisions shall be construed to effectuate the purpose of this Trust. ARTICLE IV Benefits 4.1 Benefits. This Trust may provide benefits to the Participant, the Participant's Spouse, Dependents and Beneficiary (ies) pursuant to the terms of the Plan. 4.2 Forms of Benefits. This Trust may provide benefits by cash payment. This Trust may reimburse the Participants, his Spouse, Dependents or Beneficiary(ies) for insurance premiums or other payments expended for permissible benefits described under the Plan. This trust may reimburse the Employer, or the Administrator for insurance premiums. 3 ARTICLE V General Duties 5.1 It shall be the duty of the Trustee to hold title to assets held in respect of the Plan in the Trustee's name as directed by the Employer or its designees in writing. The Trustee shall not be under any duty to compute the amount of contributions to be paid by the Employer or to take any steps to collect such amounts as may be due to be held in trust under the Plan. The Trustee shall not be responsible for the custody, investment, safekeeping or disposition of any assets comprising the Trust, to the extent such functions are performed by the Employer or the Administrator, or both. 5.2 It shall be the duty of the Employer, subject to the provisions of the Plan, to pay over to the Administrator or other person designated hereunder from time to time the Employer's contributions and Participants' contributions under the Plan and to inform the Trustee in writing as to the identity and value of the assets titled in the Trustee's name hereunder and to keep accurate books and records with respect to the Participants of the Plan. ARTICLE VI Investments 6.1 The Employer may appoint one or more investment managers to manage and control all or part of the assets of the Trust and the Employer shall notify the Trustee in writing of any such appointment. 6.2 The Trustee shall not have any discretion or authority with regard to the investment of the Trust and shall act solely as a directed Trustee of the assets of which it holds title. To the extent directed by the Employer (or Participants, their Spouses and Dependents, or Beneficiaries to the extent provided herein) the Trustee is authorized and empowered with the following powers, rights and duties, each of which the Trustee shall exercise in a non-discretionary manner: (a) To cause stocks, bonds, securities, or other investments to be registered in its name as Trustee or in the name of a nominee, or to take and keep the same unregistered; (b) To employ such agents and legal counsel, as it deems advisable or proper in connection with its duties and to pay such agents and legal counsel a reasonable fee. The Trustee shall not be liable for the acts of such agents and 4 counselor for the acts done in good faith and in reliance upon the advice of such agents and legal counsel, provided it has used reasonable care in selecting such agents and legal counsel; (c) To exercise where applicable and appropriate any rights of ownership in any contracts of insurance in which any part of the Trust may be invested and to pay the premiums thereon; and (d) At the direction of the Employer (or Participants, their Spouses, their Dependents, their Beneficiaries, or the investment manager, as the case may be) to sell, write options on, conveyor transfer, invest and reinvest any part thereof in each and every kind of property, whether real, personal or mixed, tangible or intangible, whether income or non-income producing and wherever situated, including but not limited to, time deposits (including time deposits in the Trustee or its affiliates, or any successor thereto, if the deposits bear a reasonable rate of interest), shares of common and preferred stock, mortgages, bonds, leases, notes, debentures, equipment or collateral trust certificates, rights, warrants, convertible or exchangeable securities and other corporate, individual or government securities or obligations, annuity, retirement or other insurance contracts, mutual funds (including funds for which the Trustee or its affiliates serve as investment advisor, custodian or in a similar or related capacity), or in units of any other common, collective or commingled trust fund. 6.3 Notwithstanding anything to the contrary herein, the assets of the Plan shall be held by the Trustee as titleholder only. Persons holding custody or possession of assets titled to the Trust shall include the Employer, the Administrator, the investment manager, and any agents and subagents, but not the Trustee. The Trustee shall not be responsible or liable for any loss or expense which may arise from or result from compliance with any direction from the Employer, the Administrator, the investment manager, or such agents to take title to any assets nor shall the Trustee be responsible or liable for any loss or expense which may result from the Trustee's refusal or failure to comply with any direction to hold title, except if the same shall involve or result from the Trustee's negligence or intentional misconduct. The Trustee may refuse to comply with any direction from the Employer, the Administrator, the investment manager, or such agents in the event that the Trustee, in its sole and absolute discretion, deems such direction illegal. 6.4 The Employer hereby indemnifies and holds the Trustee harmless from any and all actins, claims, demands, liabilities, losses, damages or reasonable expenses of whatsoever kind and nature in connection with or arising out of (i) any action taken or omitted in good faith by the Trustee in accordance with the directions of the Employer or its agents and subagents hereunder, or (ii) any disbursement or any part of the Trust made by the Trustee in accordance with the directions of the 5 Employer, or (iii) any action taken by or omitted in good faith by the Trustee with respect to an investment managed by an investment manager in accordance with any direction of the investment manager or any inaction with respect to any such investment in the absence of directions from the investment manager. Notwithstanding anything to the contrary herein, the Employer shall have no responsibility to the Trustee under the foregoing indemnification if the Trustee fails negligently, intentionally or recklessly to perform any of the duties undertaken by it under the provisions of this Trust. 6.5 Notwithstanding anything to the contrary herein, the Employer or, if so designated by the Employer, the Administrator and the investment manager or another agent of the Employer, will be responsible for valuing all assets so acquired for all purposes of the Trust and of holding, investing, trading and disposing of the same. The Employer will indemnify and hold the Trustee harmless against any and all claims, actions, demands, liabilities, losses, damages, or expenses of whatsoever kind and nature, which arise from or are related to any use of such valuation by the Trustee or holding, trading, or disposition of such assets. 6.6 The Trustee shall and hereby does indemnify and hold harmless the Employer from any and all actions, claims, demands, liabilities, losses, damages, and reasonable expenses of whatsoever kind and nature in connection with or arising out of: (a) The Trustee's failure to follow the directions ofthe Employer, the Administrator, the investment manager, or agents thereof, except as permitted by the last sentence of Section 6.3 above; (b) Any disbursements made without the direction of the Employer, the Administrator, the investment manager or agents thereof; and (c) The Trustee's negligence, willful misconduct, or recklessness with respect to the Trustee's duties under this Declaration. ARTICLE VII Contributions 7.1 Employer Contributions. The Employer shall contribute to the Trust such amounts as specified in the Plan or by resolution. 7.2 Participant Contributions. If specified in the Plan, each Participant may make voluntary after-tax contributions; under no circumstances shall Participant Contributions exceed an insubstantial amount. These Contributions shall be collected by the Employer and remitted to the Trust for deposit at such time or times as required under the terms of the Plan. 6 7.3 Accrued Leave. Contributions up to an amount equal to the value of accrued sick leave, vacation leave, or other type of accrued leave, as permitted under the Plan. The Employer's Plan must contain a forfeiture provision that will prevent Participants from receiving the accrued leave in cash in lieu of a contribution to the Trust. 7.4 Accounts. Employer contributions, Participant contributions, and contributions of accrued leave, all investment income and realized and unrealized gains and losses, and forfeitures allocable thereto will be deposited into an Account in the name of the Participant for the exclusive benefit of the Participant, his Spouse, Dependents and Beneficiaries. The assets in each Participant's Account may be invested in Investment Funds as directed by the Participant (or, after the Participant's death, by the Spouse, Dependents, or Beneficiary(ies)) from among the Investment Funds selected by the Employer. 7.5 Receipt of Contributions. The Employer or, ifso designated by the Employer, the Administrator or investment manager or another agent of the Employer, shall receive all contributions paid or delivered to it hereunder and shall hold, invest, reinvest and administer such contributions pursuant to this Declaration, without distinction between principal and income. The Trustee shall not be responsible for the calculation or collection of any contribution under the Plan, but shall hold title to property received in respect of the Plan in the Trustee's name as directed by the Employer or its designee pursuant to this Declaration. 7.6 No amount in any Account maintained under this Trust shall be subject to transfer, assignment, or alienation, whether voluntary or involuntary, in favor of any creditor, transferee, or assignee of the Employer, the Trustee, and Participant, his Spouse, Dependent, or Beneficiary (ies). 7.7 Upon the satisfaction of all liabilities under the Plan to provide such benefits, any amount of Employer contributions, plus accrued earnings thereon, remaining in such separate Accounts must, under the terms of the Plan, be returned to the Employer. ARTICLE VIII Other Plans If the Employer hereafter adopts one or more other plans providing life, sickness, accident, medical, disability, severance, or other benefits and designates the Trust hereby created as part of such other plan, the Employer or, if so designated by the Employer, the Administrator or investment manager or another agent of the Employer shall, subject to the terms of this Declaration, accept and hold hereunder contributions to such other plans. In that event: 7 (a) the Employer or, if so designated by the Employer, the Administrator or an investment manager or another agent of the Employer, may commingle for investment purposes, the contributions received under such other plan or plans with the contributions previously received by the Trust, but the books and records of the Employer or, if so designated by the Employer, the Administrator or an investment manager or another agent of the Employer, shall at all times show the portion of the Trust Fund allocable to each plan; (b) the term "Plan" as used herein shall be deemed to refer separately to each other plan; and (c) the term "Employer" as used herein shall be deemed to refer to the person or group of persons which have been designated by the terms of such other plans as having the authority to control and manage the operation and administration of such other plan. ARTICLE IX Disbursements and Expenses 9.1 The Employer or its designee shall make such payments from the Trust at such time to such persons and in such amounts as shall be authorized by the provisions of the Plan provided, however, that no payment shall be made, either during the existence of or upon the discontinuance of the Plan (subj ect to section 7.7), which would cause any part of the Trust to be used for or diverted to purposes other than the exclusive benefit of the Participants, their Spouses and Dependents, and Beneficiaries pursuant to the provisions of the Plan. 9.2 All payments of benefits under the Plan shall be made exclusively from the assets of the Accounts of the Participants to whom or to whose Spouse, Dependents, or Beneficiaries such payments are to be made, and no person shall be entitled to look to any other source for such payments. 9.3 The Employer, Trustee and Administrator may be reimbursed for expenses reasonably incurred by them in the administration ofthe Trust. All such expenses, including, without limitation, reasonable fees of accountants and legal counsel to the extent not otherwise reimbursed, shall constitute a charge against and shall be paid from the Trust upon the direction of the Employer. ARTICLE X Accounting 10.1 The Trustee shall not be required to keep accounts of the investments, receipts, disbursements, and other transactions of the Trust, except as necessary to perform 8 its title-holding function hereunder. All accounts, books, and records relating thereto shall be maintained by the Employer or its designee. 10.2 As promptly as possible following the close of each year, the Trustee shall file with the Employer a written account setting forth assets titled to the Trust as reported to the Trustee by the Employer or its designee. ARTICLE XI Miscellaneous Provisions 11.1 Neither the Trustee nor any affiliate thereof shall be required to give any bond or to qualify before, be appointed by, or account to any court of law in the exercise of its powers hereunder. 11.2 No person transferring title or receiving a transfer oftitle from the Trustee shall be obligated to look to the propriety of the acts of the Trustee in connection therewith. 11.3 The Employer may engage the Trustee as its agent in the performance of any duties required of the Employer under the Plan, but such agency shall not be deemed to increase the responsibility or liability of the Trustee under this Declaration. 11.4 The Employer shall have the right at all reasonable times during the term of this Declaration as well as after the termination of this Declaration to examine, audit, inspect, review, extract information from, and copy all books, records, accounts, and other documents of the Trustee relating to this Declaration and the Trustee's performance hereunder. ARTICLE XII Amendment and Termination 12.1 The Employer reserves the right to alter, amend, or (subject to Section 9.1) terminate this Declaration at any time for any reason without the consent of the Trustee or any other person, provided that no amendment affecting the rights, duties, or responsibilities of the Trustee shall be adopted without the execution of the Trustee to the amendment. Any such amendment shall become effective as of the date provided in the amendment, if requiring the Trustee's execution, or on delivery of the amendment to the Trustee, if the Trustee's execution is not required. 9 12.2 Upon termination of this Declaration and upon the satisfaction of all liabilities under the Plan to provide such benefits, any amount of Employer contributions, plus accrued earnings thereon, remaining in such separate Accounts must, under the terms of the Plan, be returned to the Employer. ARTICLE XIII Successor Trustees 13.1 The Employer reserves the right to discharge the Trustee for any or no reason, at any time by giving ninety (90) days advance written notice. 13.2 The Trustee reserves the right to resign at any time be giving ninety (90) days advance written notice to the Employer. 13.3 In the event of discharge or resignation of the Trustee, the Employer may appoint a successor Trustee who shall succeed to all rights, duties, and responsibilities of the former Trustee under this Declaration, and the terminated Trustee shall be deemed discharged of all duties under this Declaration and responsibilities for the Trust. ARTICLE XIV Limited Effect of Plan and Trust Neither the establishment of the Plan and the Trust or any modification thereof, the creation of any fund or account, nor the payment of any benefits, shall be construed as giving to any person covered under the Plan or other person any legal or equitable right against the Trustee, the Administrator, the Employer or any officer or employee thereof, except as may otherwise be expressly provided in the Plan or in this Declaration. ARTICLE XV Protective Clause Neither the Administrator, the Employer, nor the Trustee shall be responsible for the validity of any contract of insurance or other arrangement maintained in connection with the Plan, or for the failure on the part of the insurer or provider to make payments 10 provided by such contract, or for the action of any person which may delay payment or render a contract void or unenforceable in whole or in part. IN WITNESS WHEREOF, the Employer and the Trustee have executed this Declaration by their respective duly authorized officers, as of the date first hereinabove mentioned. ATTEST: By~1n. R.t>'.~ ity Clerk Approved as to Form and Legal Sufficiency: BX'~ .cEJ (L -;;{zalos- tt95/. City Attorney WITNESSES: .' ft: 11' "' ~-..~~ &~ /?~ L' // ',:!44 ' If:., ~L/lf/O Print Name CJaCj))f} ~ ,,/:..:tv 1)1 TII A jJ~ vPrint Name STATE OF F/.-o/210 A- COUNTY OF (J/Jt-fl-l 13fACfI TRU~E: .. I ~ BY~11~ Title: t-1'lMfL i)/rt_r.:h r The foregoing instrument was acknowledged before me this / t:HiJ day of Jli)/ t , 2005, byTe (2 (( lj T If'iLo ({ 4.,,- J fA),! /1<1. r}-1 PI u. rJr It! erf- (name of person acknowledging). , ,~_ r()" ~,,1 :.. 4 . (/ " k:...- .{...,(... ~~ ure of Notary Pub' - State ofPlorida NOTARY PUBUC.STATE OF FLOPJDA ~ Judith A. Pyle CO~sion # D0421091 Expires: APR. 21, 2009 BoDded Tbru AtJandc Iondillf Co.. Inc. Print, Type, or Stamp Commissioned Name of Notary Public Personally Known X OR Produced Identification Type of Identification Produced: 11 CITY OF BOYNTON BEACH OFFICE OF THE CITY ATTORNEY MEMORANDUM TO: Janet Prainito, City Clerk FROM: David N. Tolces, Assistant City Attorney DATE: May 27, 2005 INTEGRAL PART TRUST RE: Attached is the completed "Integral Part Trust" for signatures. If you have any questions, please do not hesitate to contact me. Thank you. JA S:CA\Transmittal - General - JulieK CITY CLERK'S OFFICE MEMORANDUM TO: John Jordan Deputy Director of Human Resources FROM: Janet M. Prainito City Clerk DATE: April 25, 2005 RE: R05-055 - VantageCare Retirement Health Savings Plan Attached for your information and processing is the agreement with VantageCare Retirement Health Savings Plan that was approved by the City Commission at their meeting on April 5, 2005. As per your instructions, this agreement is forwarded to you for processing. Once the documents have been fully executed, please return the original documents to this office for our Central Files. Thank you. ~Yn.~ Attachments S:lccIWPIAFTER COMMISSIONIDepartmental Transmittals\2005\John Jordan. VantageCare Retirement Health Savings Plan.doc CITY CLERK'S OFFICE MEMORANDUM RE: JOHN JORDAN, ASSISTANT HUMAN RESOURCES DIRECTOR JANET PRAINITO, CITY CLERK JUNE 13, 2005 INTEGRAL PART TRUST TO: FROM: DATE: /- Attached, is a completed, notarized copy of the above mentioned document for your information and files. If you have any questions, please do not hesitate to contact me. S:\CC\WP\JM\MEMOS\JORDON\INTEGRAL PART TRUST.docS:\CC\WP\JM\MEMOS\JORDON\lNTEGRAL PART TRUST.doc CITY CLERK'S OFFICE MEMORANDUM TO: John Jordan Deputy Director of Human Resources APR 2 5 2005 -~ FROM: Janet M. Prainito City Clerk ( .) } ., ..J 0' ") DATE: April 25, 2005 RE: R05-055 - VantageCare Retirement Health Savings Plan Attached for your information and processing is the agreement with VantageCare Retirement Health Savings Plan that was approved by the City Commission at their meeting on April 5, 2005. As per your instructions, this agreement is forwarded to you for processing. Once the documents have been fully executed, please return the original documents to this office for our Central Files. Thank you. ~Yn.~ Attachments S:\Cc\WPIAFTER COMMISSION\Departmental Transmittals\2005\John Jordan - VantageCare Retirement Health Savings Plan.doc CITY CLERK'S OFFICE MEMORANDUM TO: James Cherof City Attorney FROM: Janet M. Prainito City Clerk DATE: April 7, 2005 RE: Contracts and Agreements Approved by City Commission on 04/05/05 Attached are contracts and agreements that were approved by the City Commission at their regular meeting held on AprilS, 2005. These are documents that were inadvertently missed during your first review. Please review, sign and return to me for further processing. Thank you. NO. OF RESOLUTION # DOCUMENTS DESCRIPTION R05-055 1 Contract with VantageCare Retirement Health Savings Plan 8= /YI. ~ Att ments S:\CC\WP\AFTER COMMISSION\Cily Attorney Transmillals\Year 2005\04-05-05- #1.doc