05/09/2017 Resolutions 2017-144r
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RESOLUTION 2017-144
WHEREAS, the City of Grand Island provides VEBA (voluntary employees
beneficiary association) benefits for non-union, IAFF and IBEW union members employed by
the City; and
WHEREAS, a VEBA benefit is one recognized under the federal tax code as a
tax-free, post-retirement medical expense account used by retirees and their eligible dependents
to pay for eligible medical expenses; and
WHEREAS, VEBA benefits provided by an employer are not subject to the
employer share of social security and medicare tax; and
WHEREAS, VEBA benefits are administered through a Health Reimbursement
Arrangement (HRA) service provider whose fees are charged to the participating employee
accounts and are not an expense to the employer; and
WHEREAS, the City has chosen a new HRA provider, moving from Security
Benefit to MidAmerica Administration & Retirement Solutions, Inc.; and
WHEREAS, MidAmerica Administration & Retirement Solutions, Inc. offers the
City better "back office" service, lower fees for employees, and simplified investing options; and
WHEREAS, the HRA agreement between the City and MidAmerica
Administration & Retirement Solutions, Inc. was reviewed and approved by City's legal
department.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL
OF THE CITY OF GRAND ISLAND, NEBRASKA, that the Health Reimbursement
Arrangement agreement between the City of Grand Island and MidAmerica Administration &
Retirement Solutions, Inc. is hereby ratified and approved.
Adopted by the City Council of the City of Grand Island, Nebraska, May 9, 2017.
Attest:
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RaNae Edwards, City Clerk
Jere y .Jen en, or
Approved as to Form �
May 8, 2017 i ttorney