HomeMy WebLinkAbout20092870.tiffRESOLUTION
RE: TERMINATION OF THE RETIREMENT HEALTH SAVINGS PLAN FOR WELD COUNTY
EMPLOYEES CREATED SEPTEMBER 15, 2008
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, by Resolution #2008-2492, dated September 15, 2008, the Board of Weld
County Commissioners approved the creation of a Retirement Health Savings Plan (RHS plan) for
certain Weld County employees not eligible for the Other Post Employment Benefit (OPED)
Program and employed prior to October 1, 2005, that were enrolled in the Weld County Health
Insurance plan as of January 1, 2008, born on or after January 1, 1957, or any employee born on or
after December 31, 1958, who would have 30 years of service prior to reaching age 62, and
WHEREAS, the Retirement Health Savings Plan provided that the Board of Weld County
Commissioners would annually consider, in the budget process, if any County contributions would
be made to eligible employees to a RHS plan for employees age 52 who have 10 years of service or
more, and for employees age 50 having 30 years of service prior to reaching age 62, and
WHEREAS, the RHS plan is not part of the Weld County Retirement Plan and is not a
vested benefit or right, but it is a plan that can be amended or stopped at any time by the Board of
Weld County Commissioners for any reason, and
WHEREAS, the Board of Weld County Commissioners, in the course of examining the
County's current and future financial condition, has determined that to balance the financial liability
of post employment benefits to the taxpayers, while still providing competitive salaries and benefits
to current Weld County employees, the County can no longer continue to contribute to the RHS
plan, and therefore has decided to terminate the RHS plan immediately.
NOW THEREFORE BE IT RESOLVED that the Board of Weld County Commissioners
hereby terminates, effective immediately, the Retirement Health Savings Plan created
September 15, 2008, by Resolution #2008-2492.
BE IT FURTHER RESOLVED that the Board of Weld County Commissioners hereby directs
that the County Treasurer shall terminate the "Weld County Retirement Health Savings (RHS) Trust
Fund" immediately, since the RHS Plan has been terminated and the trust fund has no county
employee or county funds in it.
2009-2870
PE0017
////7 /O%
TERMINATION OF THE RETIREMENT HEALTH SAVINGS PLAN FOR WELD COUNTY
EMPLOYEES CREATED SEPTEMBER 15, 2008
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 28th day of October, A.D., 2009.
BOARD OF COUNTY COMMISSIONERS
ATTEST:
Weld County Clerk to th
BY:
Deputy Cler
APPROcED AS
to the Bo.
FORM:
y Attorney
Date of signature
WELD COIJIY, COLORADO
i
William F. GaThia, Chair
Douglas%Rademaher, Pro-Tem
Sea A P. Conway
2009-2870
PE0017
Hello