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HomeMy WebLinkAboutBPW-11-18-98-01Medical EscrowRESOLUTION BPW-11-18-98-01 APPROVED, A TO ,it, M I WHEREAS, Ordinance D-1048, passed by the Common Council of the City of Carmel, Indiana, on February 21, 1994, established the City of Carreel Medical Escrow Fund, to be used to accumulate employee and employer insurance premium payments for qualified City employees and Parks Department employees, and to pay benefits and administrative costs related to the City of Carreel Employee Health Benefit Plan; and WHEREAS, D-1048 authorizes excess funds in the Medical Escrow Account to be utilized to provide additional benefits for full-time City employees, by resolution of the Board of Public Works and Safety; and WHEREAS, the Board of Public Works and Safety wishes to provide additional health care and child care benefits to qualified employees through the establishment of pre-tax Flexible Spending Accounts, which accounts require the payment of monthly administrative fees to the Plan Supervisor; and WHEREAS, it is administratively efficient to use the existing Medical Escrow Fund to pay the administrative fees associated with the Flexible Spending Accounts, along with other fees payable monthly to the Plan Supervisor; and WHEREAS, the funds to pay the monthly administrative fees are available in the Medical Escrow fund. NOW, THEREFORE, BE IT RESOLVED that the Clerk-Treasurer is authorized and directed to pay the monthly administrative fees for Flexible Spending Accounts to the Plan Supervisor from the Medical Escrow Fund. BE IT FLIRTHER RESOLVED that tax savings to the City realized through the Flexible Spending Accounts will be deposited into the Medical Escrow Fund as an offset to the payment of monthly administrative fees for Flexible Spending Accounts from that Fund. PASSED AND ADOPTED by the Board of Public Works and Safety of the City of Carmel, Indiana this/~,'~ day of/4~~,,t2,,¢~. ,1998. ~~,~ ~~/ifresiding Officer Mary ~u2~urke, Member