HomeMy WebLinkAboutES06-271 - Original - ICMA Retirement Corp - Retirement Health Savings (RHS) Plan - 12/16/2006 Records Man' ge m ePi .La
KENT
WAg„,„G Tp„ Document
CONTRACT COVER SHEET
This is to be completed by the Contract Manager prior to submission to City Clerks Office. All
portions are to be completed, if you have questions, please contact City Clerks Office.
Vendor Name: Tempt - (2, Vendor Number: 1 50114
JD Edwards Number
Contract Number: ESOro" a7
This Is assigned by Deputy City Clerk
Description.'-Rt 1 tR±_M-,cam! ilf—&L -1-I
Detail: Ru,;S ArC�12 NYL`r�( _ A ��YY1 1 tST��4 I�V t-
Project Name:
Contract Effective Date: Termination Date: I\JA
Contract Renewal Notice (Days):
Number of days required notice for termination or renewal or amendment
Contract Manager: 7R Lj ,Kly FD LW L Department: S
Abstract:
5 Public\RecordsManogement\Forms\ContractCover\ADCU832 07/02
3- EMPLOYER VANTAGECARE RETIREMENT HEALTH
SAVINGS (RHS) PLAN ADOPTION AGREEMENT
Plan Number: 8 O
Employer Retirement Health Savings Plan Name: CITY OF K?__r_AT
I. Employer Name: _ C iTY one K -�T State:
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. 1 c 1 10 • O(p
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
All Full-Time Employees
Non-Union Employees
Public Safety Employees - Police
Public Safety Employees Firefighters
General Employees
X _—_ Collectively-Bargained Employees (Specify unit)_T�aelnSTf32
Other (specify below)
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 this box is checked, in lieu of mandatory participation, the Employer provides for a one-time irrevoca
ble election by eligible Employees to participate in RHS. Until such time as the election is made,the
Employee shall not participate in the Plan or recem- contrih(itinns pursuant to Section VI.
Newly eligible Employees shall be provided an election window of 30 days (no more than 60
calendar days)from the date of initial eligibility during which they may make the election to participate
Participation may begin no earlier than the calendar month following the end of the election window.
If the Employee does not make the election in the year of initial eligibility, the election to participate may
be made in a later year An annual election window of
days) shall be provided during which the election may bO e The e ect onys nowindow orethan 6r0 calendar
to I ( -Q"7n from
(insert your annual time frame for the election window, e g. October 1 to
November 29) Partic;p ation may begin no earlier than the calendar year following the year of the elec-
tion.
Once made, the election is irrevocatble and may not be revoked while the participant is a member of the
group covered by the RHS plan.
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 (IRCI Section 105(h
) will apply. These rues 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 N�A (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 (write N/A if no minimum age is required).
VI.Contribution Sources and Amounts
A Mandatory Contributions
1. Direct Employer Contributions
00
The Employer shall contribute on behalf of each Participant % of earnings or $ _for the Plan
Year
Definition of earnings-
2 Mandatory Leave Contributions
The Employer will make mandatory contributions of leave as follows:
Accrued Sick Leave* 0 Yes No
Accrued Vacation* CI Yes No
Other* (describe) Yes No
* Please provide the formula for determining the Accrued Leave contribution:
An Employee shall not have the right to discontinue or vary the rate of annual leave contributions.
0 3. Mandatory Employee Compensation Contributions
The Employer will make mandatory contributions of Employee compensation as follows:
Reduction in Salary % of earnings (as defined in VI A.1.) or $ will be
contributed for the Plan Year.
❑ Decreased Merit or Pay Plan Adjustment -All or a portion of the Employees' annual merit
or pay plan adjustment will be contributed as follows:
An Employee shall not have the right to discontinue or vary the rate of mandatory contributions of
Employee compensation.
12
V6. Elective Contributionz
1, Elective Pre-Tax Contributions
The Employer will permit each Employee to make the following elections to make pre-tax
contributions to the Plan:
L� a. Irrt�vocable Elecuun for Pre-Tax Contributions from Compensation; A one-time, irrevocable election of
the amount of Employer contributions of compensation made on his or her behalf.
a
The Employer limits the amount elected to either a fixed percentage or a range of percentages of an
Employee's earnings
% of earnings (as defined in VI A 1 ) or up to % of earnings (as'defined in
VI A 1) for the Plan Year.
Newly eligible Employees shall be provided an election window of days (no more than 60)
from the date of initial eligibility during which they may make the election to contribute. Contributions
may begin no earlier than the calendar month following the end of the election window.
If the Employee does not make the election in the year of initial eligibility, the electron to contribute may
be made in a later year An annual electron window of . days (no more than 60) shall be
provided during which the election may be made The election window shall run from to
(insert your annual time frame for the electron window). Contributions may begin no ear-
lier than the calendar year following the year of the election
Once made, the electron is irrevocable and may not be revoked.
b. Irrevocable Electron for Pre-Tax Contributions of Accrued Leave: A one-time, irrevocable electron of
the amount of employer contributions of Employee accrued
sick vacation other (describe) leave made on his or her behalf
Yes No
The Employer-limits the amount elected as shown below:
Newly eligible Employees shall be provided an electron window of days(no more than 60
calendar days) from the date of initial eligibility during which they m ay make the electron to contribute
Contributions may begin no earlier than the calendar month following the end of the election window.
If the Employee does not make the election in the year of initial eligibility, the election to contribute may
be made in a later year. An annual election window of days (no more than 60 calendar
days) shall be provided during w h[a, the eiecuuri may be made The election window snail run from
to (insert your annual time frame for the election window). Contributions may
begin no earlier than the calendar year following the year of the election.
Once made, the election is irrevocable and may not be revoked
L� c. Annual Prospective Election for Pre-Tax Contributions of Leave. An annual, irrevocable election to
have his or her 73 sick I vacation 71 other (describe) leave to be accrued in the next
calendar year contributed to the Plan on his or her behalf .
13
The Employer Limits the aiiiciunt elected as shdwn below:
Contributions al future leave accruals will be remitted to the Plan
C3 as earned at the end of the calendar year
the calendr year
which
ributions
The election to contribute must be made in to succeeda+ng calendarbefore years unle s otherwise revisedor re to
begin. Once made, the election shah apply
revoked by the Employee on an annual basis.
An annual election u�ir5dow of days (n a mo The election window shall run from re than 60 calendardays)is provided during to which eligible
Employees may make the election to contribute
(insert you, annual time frame for the election window).
emal
evenue Servico bas not
In adopting section a, b, and or c,the ut ms on enacknowledgesintegral part trust the Int Chas obtained the advice of
ruled el Irrevocable s c h c election contributions contributionsare
counsel that such contributions are allowable under
tcounsel.itions outlined in this Adoption Agreement. e
Employer should discuss this issue with appropriate
2.Voluntary After-Tax Contributions for the Plan Year on
VII.A
Each Employee may contribute up to °l° of earnings (as defined in tart' a ) or $
a voluntary after-tax basis in no event may aggregate Employee voluntary after-tax contributions exceed 25%
of total contributions in any Plan Year.
An Employee shall have the right to discontinue or vary the rate of elective after flax contributions of Employee
earnings
By adopting this section,the Employer acknowledges that the internal Revenue Service has declined el h e u
insubstantial amount t. M more than 25% of total contributions in any Plan
Employee after tax contributions ins n integral part trust. lCMA-RC has obtained the advice of counsel that such
-contributions are allowable in a
discuss this issue with appropriate counsel.
Year) The Employer should
C. Limits on Total Contributions
The total contribution on behalf of each Participant(including both Mlsl datory and Elective
Contributions) for each Plan Year shall not exceed the following
of earnings (as defined in VI.A 1 )•
he percentage or dollar amount of earnings that may
There is no Plan-defined limit an t
be contributed
1-ii-nits on individual contnautian types are defined within the appropriate section above.
ly to non collectively bargained self
See Section V.A for a discussion of nondiscrimination rules that may app
insured Plans
14
eJ
*Oil. 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:
Years of Specified
Service Percent
Completed Vesting
C. The account will become 100% vested upon the death, disability, retirement, or attainment of
benefit eligibility by a Participant.
Definition of retirement:
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
Vill. 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-
Remain in the Trust to be reallocated among all Plan Participant's as Direct Employer Contributions for
the next and succeeding contribution cycle(s)
l�l Remain in the Trust to be reallocated on an equal dollar basis among all Plan Participants.
❑ 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 fohowing restrictions
At age only
At retirement and age
___)CA.At retirement or age
15
YL
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.
17 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 VA 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/S1PC
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 beneficiary0es), the account will revert to the
Plan to be applied as specified in Section Vill.
16
EMPLOYER
By.
Title.
Attest
Accepted Vantagepoint Transfer Agents, LLC
Corporate Secretary
18
There will be no elective withholding of federal, state, or local taxes for medical benefit payments to the
'articrpant's spouse's or dependent's designated beneficiary(ies).
;f 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 Vill.
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
The de minimis account value shall be $5,000 or less
The de minimis account value shall be $ (insert dollar amount between $0 and
$5,000) or less
10 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' ;I
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 ellgihle 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
VantageCare Retirement Health Savings Plan
Implementation Data Form - Page 1
Instructions to Employer Provide necessary information to establish your plan properly ICMA RETIREMENT CORPORATION
Please contact your New Business Analyst at 1-800-326-7272,if you have any questions
ICMA-RC Use Only
1 Employer# 801 (v5q
General
Information 2 (902) Employer's Full Name C tr, OF Kttwr
3 (924) Street Address CRQO -
(925)
4 (918) City: KkJ-tT
(919) State 1.OA (920) Zip Code 9g032
5 (633) Primary Contact —hU»a2.
6 (634) Primary Contact Title �akA.)f_F tTS M A.mA ..&
7. (631) Primary Contact Telephone# (a53) 856-$a90
8 (632)Fax#.(Q53) S5 to• (oa10
9 (PTOO) E-mail Address L�Fota���t2®G .KtntT. tz14 LL5
10 (882) Employer's Federal Tax Identification Number 9 I-(CooI a5`�
11 #of Employees rl 8M0 12 #of Employees Eligible for Plan Participation ( I S
13. #of Employees Eligible to Receive Medical Benefits: 1$
Plan
Implementation 14. Plan Level Quarterly Statements* (Note- *=default)
Information a Sort Order: (629) ❑ S=SSN* 21 N=Name
b Output Media- (627) ® P=Paper* ❑ M=Microfiche ❑ B=Bound
c. Type. (626) Q9 S=Summary* ❑ D=Detail
15. (611)Contribution Information-(Nate:*=default)
a Frequency (check one). ❑ (0) Bi-weekly* ❑ (4)Monthly ❑ (8) Semi-quarterly
❑ (1)Weekly % (5) Semi-Monthly ❑ (9) Bi-annually
❑ (2) Semi-weekly ❑ (6) Bi-quarterly ❑ (10)Annually
❑ (3) Bi-monthly ❑ (7) Quarterly ❑ (11) Semi-annually
❑ ( ) Other
b Deposit Medium- (624) ❑ Check* XWire ❑ EFT
c Data Medium EZ Link Required to participate in RHS Plan
d. First Contribution Date Following Implementation--61-OS•07
ICMA Retirement Corporation •Attn•Records Management Unit•PO Box 96220•Washington, DC 20090-6220•Toll Free 1-800 669-7400
20
VantageCare Retirement Health Savings Plan
Implementation Data Form - Page 2
Plan Contacts ICMA RETIREMENT CORPORATION
(if any item#16-21 is left blank,the Primary Contact in#5 will receive mailings
Payroll Contact
Information 16 PTO] Contact Signature Kn tt' _
(200) Contact Name KARt I&Abl,t'_ou
Please indicate (P00) Contact Title ;i�1'n t-F-LTS prf3A 1.. fezT'
alternate
addresses in 5 �a(420) Telephone 4 Slo' Fax SSIo- /yal0
Coments Section 17 PT08 Contact Signature c <w ��--
(200) Contact Name
(200) Contact Title -g-Fl1 b Pwn1PrL`f'z-r
(420) Telephone M) e5ta- 5a98 Fax (Z,�5 654c- 4oa.-70
18 PT09 Contact Signature
(200) Contact Name
(200) Contact Title
(420) Telephone. (_) Fax (_►
Contribution 19 PT02 (200) Contact Name. K1a21 blDtC-O'Pr
Contact (200) ContactTitle 'Otntizzy-15 A-A-Y Nb'rr
Information p Fax S(53) � .r(o-(o 270
(420) Telephone 8`.i 10^b a�i`�-
Trustee Contact 20 PT10 (200) Trustee Name ��C'.K`f ec)Lo L'P- -
Information (200) Trustee Title Z kn t-r-L- 5 JmAn1 AC.�12
(200) Trustee Address, o�a0 -4 A-OL' S
Street
City KILT State 67A Zip q$03a
(420) Telephone 0153) 85fo•5a90 Fax- 6Z-3►85fc-loa70
Billing (Fees) 21 PT06 (200) Contact Name {- 4)R1 9A-)jjtrC7-r-
Contact (200) Contact Title l� r TS AyijA- V -T
Information (420) Telephone ( ) 85(0- 5'a4'/- Fax (42) as(o-&Z-70
Comments:
(Alternate
Addresses for
#16-21)
Internal Use
Only 641 912 608
ICMA Retirement Corporation•Attn. Records Management Unit•PO Box 96220•Washington, DC 20090-6220•Tall Free 1-800 669-7400
21
r ,~ SUGGESTED AFFIRMATIVE STATEMENT FOR ADOPTION OF THE
VANTAGECARE RETIREMENT HEALTH SAVINGS (RHS) PROGRAM
Plan Number: 8 01 (o 59
Name of Employer: C rrt o F �<eN C State. (f)a
Affirmative Statement of the above-named Employer (the "Employer"):
WHEREAS, the Employer has employees rendering valuable services, and
WHEREAS, the establishment of a retiree health savings plan serves the interests of the Employer by enabling it
to provide reasonable security regarding such employees' health needs during retirement, by providing
increased flexibility in its personnel management system, and by assisting in the attraction and retention of
j competent personnel, and
WHEREAS, the Employer has determined that the establishment of the retiree health savings plan (the "Plan")
serves the above objectives;
I
NOW THEREFORE, as a duly authorized agent of the Employer, I hereby:
ESTABLISH the Employer's Plan in the form of the ICMA Retirement Corporation's VantageCare Retirement
Health Savings program; and
SPECIFY that the assets of the Plan shall be held in trust, with the Employer serving as trustee ("Trustee"), for the
exclusive benefit of the Plan participants and their beneficiaries, and the assets of the plan shall not be diverted
to any other purpose prior to the satisfaction of all liabilities of the Plan. The Employer has executed the
Declaration of trust of the C r'T-f of K*"!)-r (name of Employer) Integral Part
Trust in the form of: (Select one)
The model trust made available by the ICMA Retirement Corporation
The trust provided by the Employer (executed copy attached hereto).
SPECIFY that the IcdlyF-tTS MJgr4A!:;tR. (use title of Employer's official, not
name) shall be the coordinator and contact for the Plan and shall receive necessary reports, notices, etc
DATE:
(Title of Desi ated Agent)
(Sig t re)
3
A
ADMINISTRATIVE SERVICES AGREEMENT
Type: VantageCare RHS
Account Number: 801659
Plan# 801659
ADMINISTRATIVE SERVICES AGREEMENT
This Agreement,made as of the 16 day of 20 O io (herein referred to as the
"Inception Date"),between The International City Management Association Retirement Corporation
("ICMA-RC"), a nonprofit corporation organized and existing under the laws of the State of
Delaware; and the City of Kent ("Employer") a local governmental instrumentality organized and
existing under the laws of the State of Washington with an office at 220 41"Avenue South, Kent,
Washington 98032.
RECITALS
Employer acts as a public plan sponsor for a retiree health plan with responsibility to obtain
investment alternatives and services for employees participating in that plan,
Employer desires to make the VantageCare Retirement Health Savings Plan("RHS Plan"or"Plan")
provided by ICMA-RC available to its employees;
ICMA-RC makes available the Vantagepomt Funds, a no-load, diversified mutual fund, for
investment of public employer plan assets, including RHS Plan assets;
ICMA-RC provides a complete offering of services to public employers for the operation of
employee retirement and retiree health savings plans including,but not limited to,communications
concerning investment alternatives, account maintenance, account record-keeping,investment and
tax reporting, form processing,benefit disbursement and asset management.
AGREEMENTS
1. Acceptance of RHS Plan
Employer agrees to make the RHS Plan provided by ICMA-RC available to its employees. The
details of the RHS Plan shall be as mutually agreed between the Employer and ICMA-RC, and in
general shall be as set forth in the RHS Plan materials developed by ICMA-RC and provided to
Employer. 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. RES plan materials shall include the
VantageCare RHS Employer Manual, available electronically through the EZ Link System upon
plan adoption.
The functions to be performed by ICMA-RC and its agents include:
(a) allocation in accordance with participant direction of individual accounts to
investment funds ("Funds") made available to Plan participants;
(b) maintenance of individual accounts for participants reflecting amounts contributed,
- 2 -
Plan# 801659
income, gain,or loss credited, and amounts disbursed as benefits;
(c) provision of periodic reports to the Employer and participants of the status of Plan
investments and individual accounts;
(d) communication to participants of information regarding their rights and elections under the
Plan;
(e) disbursement of benefits as agent for the Employer in accordance with terms of the Plan;and
(f) performance of tax withholding and reporting in conjunction with the Employer for each
RHS account.
2. Employer Duty to Furnish Information
Employer agrees to furnish to ICMA-RC on a timely basis such information as is necessary for
ICMA-RC to cant'out its responsibilities with respect to the Plan,including information needed to
allocate individual participant accounts to Funds, and information as to the employment status of
participants, and participant ages, addresses, beneficiaries and other identifying information
(including tax identification numbers). ICMA-RC shall be entitled to rely upon the accuracy of any
information that is furnished to it by a responsible official of the Employer or any information
relating to an individual participant, dependent, or beneficiary that is furnished by such participant,
dependent, or beneficiary, and ICMA-RC shall not be responsible for any error arising from its
reliance on such information. ICMA-RC will provide account information in reports,statements or
accountings
3. Certain Rgpresentations and Warranties
ICMA-RC represents and warrants to Employer that:
(a) ICMA-RC is a non-profit corporation with full power and authority to enter into this
Agreement and to perform its obligations under this Agreement.
(b) ICMA-RC is an investment adviser registered as such with the Securities and Exchange
Commission under the Investment Advisers Act of 1940, as amended.ICMA-RC Services,
LLC (a wholly owned subsidiary of ICMA-RC) is registered as a broker-dealer with the
Securities and Exchange Commission (SEC) and is a member in good standing of the
National Association of Securities Dealers, Inc.
Employer represents and warrants to ICMA-RC that:
(c) Employer is organized in the form and manner recited in the opening paragraph of this
Agreement with full power and authority to enter into and perform its obligations under this
Agreement and to act for the Plan and participants in the manner contemplated in this
- 3 -
: Plan# 801659
Agreement Execution,delivery, and performance of this Agreement will not conflict with
any law,rule,regulation or contract by winch the Employer is bound or to winch it is aparty.
(d) Information required to be retained by the Employer shall be set forth in the RHS plan
materials developed by ICMA-RC and provided to the Employer.
(e) Employer is responsible for determining that there are no state or local laws that would
prohibit it from establishing ICMA-RC's VantageCare RHS program. Employer is also
responsible for determining that the investments selected for the RHS plan fall within
state/local requirements.
(f) Employer acknowledges that the RHS plan may be treated as a "health plan" for Health
Insurance Portability and Accountability Act ("HIPAA") purposes and therefore may be
subject to HIPAA privacy rules If it is determined that the RHS plan is considered a"health
plan", an employer sponsoring RHS would be responsible for complying with the HIPAA
privacy and security rules regarding protected health information of RHS plan participants.
ICMA-RC has procedures in place to safeguard the protected health information ofRHS plan
participants.
4. Participation in Certain Proceedings
The Employer hereby authorizes ICMA-RC to act as agent, to appear on its behalf, and to join the
Employer as a necessary party in all legal proceedings involving the garnishment of benefits or the
transfer of benefits pursuant to a medical child support order. Unless Employer notifies ICMA-RC
otherwise, Employer authorizes ICMA-RC to determine whether disbursement of benefits to a
former spouse, spouse or child pursuant to a medical child support order is appropriate.
5. Compensation and Pa ent
(a) Absent an explicit agreement to the contrary between ICMA-RC and Employer,participant
fees and expenses shall be payable from RHS assets,in accordance with the requirements of
the RHS Plan as set forth below
(i) Employer with ICMA-RC §401 and§457 retirement plan average participant
account balances of$25,000 or more:
A$30 annual account fee will be charged to each Accountholder's account upon
attainment of Benefit Eligibility by the Accountholder. Benefit Eligibility shall be
transmitted electronically to ICMA-RC by Employer through the EZ Link System.
Benefit Eligibility shall mean the quarter in which the Accountholder becomes
eligible to use of the account for reimbursement of medical expenses under the
terms of the Employer's RHS Plan. The account fee will be charged against the
account on a quarterly basis.
- 4 -
Plan# 801659
In addition to the annual account fee, 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.
(ii) Employer with ICMA-RC §401 and §457 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 upon
attainment of Benefit Eligibility by the Accountholder. Benefit Eligibility shall be
transmitted electronically to ICMA-RC by Employer through the EZ Link System.
Benefit Eligibility shall mean the quarter in which the Accountholder becomes
eligible to use of the account for reimbursement of medical expenses under the
terms of the Employer's RHS Plan. The account fee will be charged against the
account on a quarterly basis.
In addition to the annual account fee, 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 §401 and §457
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 8.a. shall apply beginning in the subsequent quarter
(iii) Account administration fees are subject to change with appropriate prior
notification
(b) Compensation for Advisory and other Services to the Vantagepoint Funds. Employer
acknowledges that certain wholly-owned subsidiaries of ICMA-RC receive compensation for
advisory and other services furnished to the Vantagepoint Funds.The fees referred to in this
subsection are disclosed in the Vantagepoint Funds Prospectus.
6. Custody
Employer understands that amounts contributed to the RHS plan are to be remitted directly to
Vantagepoint Transfer Agents in accordance with instructions provided to Employer in the RHS plan
materials and are not to be remitted to the ICMA Retirement Trust or ICMA-RC. In the event that
any check or wire transfer is incorrectly labeled or transferred,ICMA-RC will return it to Employer
with proper instructions.
- 5 -
Plan# 801659
7. Responsibility
(a) ICMA-RC shall not be responsible for any acts or omissions of any person other than ICMA-
RC in connection with the administration or operation of the Plan.
(b) 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
comiection 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.
8. Term
This Agreement shall be in effect for an initial tern beginning on the Inception Date and ending 5
years after the Inception Date. This Agreement will be renewed automatically for each succeeding
year unless written notice of termination is provided by either party to the other no less than 60 days
before the end of such Agreement year.
9. Amendments and Adjustments
(a) This Agreement may not be amended except by wntten instrument signed by the parties.
(b) The parties agree that an adjustment to compensation or administrative and operational
services under this Agreement may only be implemented by ICMA-RC through a proposal to
the Employer via correspondence or the Employer Bulletin. The Employer will be given at
least 60 days to review the proposal before the effective date of the adjustment. Such
adjustment shall become effective unless,within the 60 dayperiod before the effective date,
the Employer notifies ICMA-RC in writing that it does not accept such adjustment,in which
event the parties will negotiate with respect to the adjustment.
(c) No failure to exercise and no delay in exercising any right, remedy, power or privilege
hereunder shall operate as a waiver of such right, remedy,power or privilege.
10. Notices
Alt notices required to be delivered under Section 9 of this Agreement shall be delivered personally
or by registered or certified mail,postage prepaid,return receipt requested,to (i)Legal Department,
ICMA Retirement Corporation,777 North Capitol Street,N E ,Suite 600,Washington,D C,20002-
4240; (n) Employer at the office set forth in the first paragraph hereof, or to any other address
designated by the party to receive the same by written notice similarly given.
it. Complete Agreement
This Agreement shall constitute the sole agreement between ICMA-RC and Employer relating to the
- 6 -
t` Plan# 801659
object of this Agreement and correctly sets forth the complete rights,duties and obligations of each
party to the other as of its date. Any prior agreements, promises, negotiations or representations,
verbal or otherwise, not expressly set forth in this Agreement are of no force and effect.
12. Governing Law
This agreement shall be governed by and construed in accordance with the laws of the State of
Washington applicable to contracts made in thatlunsdiction without reference to its conflicts of laws
provisions
In Witness Whereof,the parties hereto have executed this Agreement as of the Inception Date first
above written.
CITY OF KENT
Name of Em 1 yer/11
it D
ate
70
Name and Title (Please Print) /
INTERNATIONAL CITY MANAGEMENT
ASSOCIATION RETIREMENT
CORPORATION
:bY
Paul Gallagher
Corporate Secretary
- 7 -
KC fHI IV nUUALLI
DECLARATION OF TRUST OF THE
flF INTEGRAL PART TRUST
NAME OF EMPLOYER
3
DECLARATION OF TRUST OF THE
C ii-t or- KtN,T"
NAME OF EMPLOYER
INTEGRAL PART TRUST
Declaration of Trust made as of the I Lo_day of kUtCkyyt,L US _' , 20 9�e,
by and between the IT`r OF Kt-r..tT a
Name of Employer State Type of Entity
(hereinafter referred to as the "Employer") and 1 L(`r aF ( ZN3— or its designee (hereinafter
Name of Trustee
referred to as the "Trustee").
RECITALS
WHEREAS,the Employer is a political subdivision of the State of ljDabiA ► t ia;rpL
exempt from federal income tax under the Internal Revenue Code of 1986; and state
WHEREAS,the Employer provides for the security and welfare of its eligible employees(here-
inafter 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 accu-
mulating 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 Declara-
tion of Trust of the C iT-r y �,vs= Integral Part Trust thereinafter referred to
Name of mployer
as the "Trust"), and agree that the following constitute the Declaration of Trust (hereinafter referred to as
the "Declaration'T
4
ARTICLE 1
Definitions
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 recordkeeping 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 admin-
istrative 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 satisfac-
tion 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) "Nonforfeitable Interest" means the interest of the Participant or the Participant's Spouse, Depend-
ent or Beneficiary (whichever is applicable) in the percentage of Participant's Employer's contribu-
tion which has vested pursuant to the vesting schedule specified in the Employer's Plan A Partici-
pant shall, at all times, have a one hundred percent (100%) Nonforfeitable Interest in the Partici-
pant's own contributions.
IN "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.
W "Trustee" means the Employer or the person or persons appointed by the Employer to serve in
that capacity.
5
ARTICLE 11
Establishment of Trust
2.1 The Trust is hereby established as of the date set forth above for the exclusive benefit of Partici-
pants, 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
lt7Rrn"Lq -Mel
State
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 FormW Benefits. This Trust may provide benefits by cash payment. This Trust may reimburse the
Participant, his Spouse, Dependents or Beneficiary(ies)for insurance premiums or other payments ex-
pended for permissible benefits described under the Plan. This trust may reimburse the Employer, or the
Administrator for insurance premiums.
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 b the Employer or its designees in writing. The Trustee shall not be under an duty to com-
pute 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 Adminis-
trator or other person designated hereunder from time to time the Employer's contributions and Partici-
pants' 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.
6
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 nondiscretionary 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 counsel or 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 Benefi-
ciaries, or the investment manager, as the case may be) to sell, write options on, convey or
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 securi-
ties and other corporate, individual or government securities or obligations, annuity, retire-
ment 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
title holder 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 actions, 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 (it) any disbursements of any part of
the Trust made by the Trustee in accordance with the directions of the 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
7
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 indemni-
fication 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 ac-
tions, 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 of the 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 reck-
lessness with respect to the Trustee's duties under this Declaration.
ARTICLE VII
Contributions
7.1 Employer Contnbutions. 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
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 provide a
formula for determining the value of the Participant's contribution of accrued leave . 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 Beneficiaries) from among the Investment Funds selected by the Employer.
7.5 Receipt of Contributions. The Employer or, if so 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 Declara-
tion, 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.
8
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 Em-
ployer, the Trustee, any Participant, his Spouse, Dependent, or Beneficiaries.
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 an investment manager or an-
other agent of the Employer shall, subject to the terms of this Declaration, accept and hold hereunder
contributions to such other plans. In that event (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 invest-
ment 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 (subject 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 of the 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 its title-holding function hereunder All
accounts, books, and records relating thereto shall be maintained by the Employer or its designee.
9
+ 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 of title from the Trustee shall be obligated to look
to the propriety of tha arts 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 and for
three (3) years after the termination of this Declaration to examine, audit, inspect, review, extract informa-
tion from, and copy all books, records, accounts, and other documents of the Trustee relating to this
Declaration and the Trustees' 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.
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 by 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 Trus-
tee who shall succeed to all rights, duties, and responsibilities of the former Trustee under this Declara-
tion, and the terminated Trustee shall be deemed discharged of all duties under this Declaration and
responsibilities for the Trust.
10
r
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 con-
tract 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 provided by such contract, or for the action of any per-
son which may delay payment or render a contract void or unenforceable in whole or in part.
1t
f
a
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.
EMPLOYER:
By: S� Title:
TR E/ES:
By: lj�nlldi;�Cloy
By: Title:
By: �¢-C.�t1. llt� Title:: lnLkz�o
12