Since 2003, the Village’s voluntary Retirement Health Savings (RHS) plan has been administered by Mission Square Retirement, formerly known as the ICMA-RC Retirement Corporation.  This plan was suspended for continuing contributions in 2008 as a result of an agreement between ICMA-RC and the Internal Revenue Service.  The monies existing in the plan remain available for qualified withdrawals.

The 2023, the Arlington Heights Firefighters Association, Local 3105, IAFF (“Union”) contract includes language that the Village will direct 1% of each employee’s base pay in the RHS, each pay period as a mandatory contribution of employee compensation, so long as contributions continue to be authorized by the IRS. In order to do so, the RHS plan agreement needs to be amended for members of the union. The amended plan agreement is attached for approval.

RECOMMENDATION  

It is recommended that the Village Board approve the attached Resolution approving the amended Agreement between the Village and Mission Square for the operation of the amended RHS plan.