HomeMy WebLinkAbout20082492.tiff RESOLUTION
RE: APPROVE THE ESTABLISHMENT OF A RETIREMENT HEALTH SAVINGS (RHS)
PROGRAM FOR ELIGIBLE RETIRING WELD COUNTY ELECTED OFFICIALS AND
EMPLOYEES AND THE ESTABLISHMENT OF THE WELD COUNTY RETIREMENT
HEALTH SAVINGS (RHS) TRUST FUND
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#982317,adopted November 30, 1998;amended by Resolution
#2002-3198, adopted December 16, 2002; and amended by Resolution #2005-2825, adopted
September 21, 2005, the Board established a program, referred to as the "Weld County Other
Post-Employment Benefits Plan"(OPEB Plan),that provides for certain post-employment benefits,
including retiree medical benefits but excluding pension benefits,for eligible retirees of the County,
their spouses and dependents, and
WHEREAS, by Resolution#2008-2490,adopted September 15,2008,the Board amended
the OPEB Plan to change its eligibility requirements to the following:
a. All elected officials and employees who were employed by Weld County on or prior
to October 1, 2005, were enrolled in the Weld County Health Insurance Plan as of
January 1, 2008, and who, on or prior to January 1, 2009, have retired from service
to Weld County and have executed an "Agreement for Continuation of Health
Insurance for Former Weld County Employee or Elected Official Who is Now
Drawing Benefits from the Weld County Retirement Plan,"("Agreement")in the form
as attached to Resolution #2002-3198;
b. All elected officials and employees who were born prior to January 1, 1957, were
officers of or employed by Weld County on or prior to October 1, 2005, and were
enrolled in the Weld County Health Insurance Plan as of January 1, 2008, and who,
upon retirement from service with Weld County, execute an Agreement in the form
as attached to Resolution #2002-3198;
c. All elected officials and employees who were born prior to December 31, 1958,
were officers of or employed by Weld County on or prior to October 1, 2005, were
enrolled in the Weld County Health Insurance Plan as of January 1, 2008, and will
have thirty(30)years of service to Weld County prior to reaching the age of 62, and
who, upon retirement, execute an Agreement in the form as attached to
Resolution #2002-3198, and
WHEREAS,the Board recognizes that there is a need to establish a program that provides
for certain benefits for eligible retiring elected officials and employees who do not meet the
above-stated eligibility requirements,their spouses and dependents, keeping in mind,however,that
such program will not be a part of the Weld County Retirement Plan, will not be a vested benefit
or right, and may be amended or stopped at any time by the Board for any reason, and
2008-2492
PE0017
OO `.TR, T , Ac /t'-o 7 -o8
APPROVE THE ESTABLISHMENT OF A RETIREMENT HEALTH SAVINGS (RHS) PROGRAM
FOR ELIGIBLE RETIRING WELD COUNTY ELECTED OFFICIALS AND EMPLOYEES AND THE
ESTABLISHMENT OF THE WELD COUNTY RETIREMENT HEALTH SAVINGS (RHS) TRUST
FUND
PAGE 2
WHEREAS, in response to said need, the Board desires to create a Retirement Health
Savings (RHS) Program, to begin on January 1, 2009, with conditions and eligibility as set forth
below.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County that, a Retirement Health Savings(RHS)Program be, and hereby is, established, to begin
on January 1, 2009, with conditions and eligibility as follows:
1. Elected officials and employees of Weld County who were employed prior to
October 1, 2005, were enrolled in the Weld County Health Insurance Plan as of
January 1, 2008, and who were born after January 1, 1957, and are not otherwise
eligible under the OPEB Program, may be eligible for contributions to a RHS Plan,
depending upon whether they qualify according to the terms and conditions set forth
in Subparagraph 3, below.
2. A RHS Plan is a health benefit savings vehicle sponsored by Weld County that
allows eligible retiring Weld County elected officials and employees to accumulate
assets to pay medical expenses (e.g. health insurance premiums, co-pays,
prescriptions, etcetera) after retirement on a tax-free basis. A RHS Plan is similar
to a 401k or 457 plan in that contributions by Weld County can be made on a
pre-tax basis. If the withdrawals are used for medical expenses, the withdrawals
are tax-free. RHS Plans are owned by Weld County and not by the subject elected
official or employee.
3. The incumbent Board of County Commissioners will annually consider in the budget
process what contributions by Weld County, if any, and what amounts,will be made
to RHS Plans for those elected officials and employees who meet the eligibility
criteria set forth in Subparagraph 1, above, and are age 52 and have 10 years of
service or more, or are age 50 and have 30 years of service prior to reaching age
62.
4. For 2009, the monthly contributions to RHS Plans shall be as follows:
Age Years of Service Monthly Contribution
50 25+ $500
50 24 415
50 23 355
50 22 310
50 21 275
50 20 250
52 10+ 150
2008-2492
PE0017
APPROVE THE ESTABLISHMENT OF A RETIREMENT HEALTH SAVINGS (RHS) PROGRAM
FOR ELIGIBLE RETIRING WELD COUNTY ELECTED OFFICIALS AND EMPLOYEES AND THE
ESTABLISHMENT OF THE WELD COUNTY RETIREMENT HEALTH SAVINGS (RHS) TRUST
FUND
PAGE 3
5. County contributions to a RHS Plan will not begin until the calendar year after the
year in which the eligible elected official or employee turns 50 years of age and has
20 or more years of service, or turns 52 years of age and has 10 or more years of
service.
6. Eligible Weld County elected officials or employees at age 62 with 20 plus years of
County service, or retired eligible Weld County elected officials or employees over
age 55 with 30 plus years of service, may remain on the County's Health Insurance
Plan until age 65 at the same premium as regular County elected officials or
employees. However, premiums will be paid by the eligible retired elected official or
employee either from their RHS plan or as a deduction from their Weld County
Retirement Plan benefit payment. No County contribution will be paid toward the
eligible retired elected official's or employee's insurance premium.
7. Eligible retired employees continuing to work by contract after retirement will no
longer receive County contributions to the RHS plan, but will be eligible for health
insurance benefits in accordance with Weld County Human Resources Code
policies.
8. The County's RHS Plan can only be used to pay Weld County health insurance
premiums; no other medical expenses or other insurance premiums will be
considered as eligible expenses to be paid from the Weld County RHS Plan. An
eligible retired elected official or employee that seeks health insurance outside of
the Weld County health insurance plan will not receive any payment from the RHS
Plan. An eligible elected official employee must also be enrolled in the Weld County
Health Insurance Program at the time the County begins contribution to the
employees RHS Plan and remain enrolled until eligible for RHS payments.
BE IT FURTHER RESOLVED by the Board that the RHS Program is not part of the Weld
County Retirement Plan and is not a vested right for Weld County employees, and the Board of
Weld County Commissioners can amend or terminate the RHS Program at anytime.
BE IT FURTHER RESOLVED by the Board that the County Treasurer be, and hereby is,
directed to create an interest bearing trust fund entitled, "Weld County Retirement Health Savings
(RHS) Trust Fund," in which to deposit County contributions and payments for premiums for the
RHS Program.
2008-2492
PE0017
APPROVE THE ESTABLISHMENT OF A RETIREMENT HEALTH SAVINGS (RHS) PROGRAM
FOR ELIGIBLE RETIRING WELD COUNTY ELECTED OFFICIALS AND EMPLOYEES AND THE
ESTABLISHMENT OF THE WELD COUNTY RETIREMENT HEALTH SAVINGS (RHS) TRUST
FUND
PAGE 4
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 15th day of September, A.D., 2008.
BOARD OF COUNTY COMMISSIONERS
.� WELD COUNTY, COLORADO
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ATTEST: lacsu"/ t Fr` '
',•?1, „ am H. Jerke, Chair
Wel County Clerk to the Board
• USED
• vc I}ert en, Pro-Tem
De y Cler o the Boar
Willis . Garcia (�
O AS
David E. Long
u Attorney
ougla adema er
n Date of signature: vl WI,%
2008-2492
PE0017
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