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R-932 - 12/13/2005 - ICMA - ResolutionsRESOLUTION 2005 - ICMA -R932 A RESOLUTION AMENDING THE VILLAGE OF OAK BROOK FLEXIBLE BENEFIT PLAN WHEREAS, Section 125 of the Internal Revenue Code authorizes employers to sponsor flexible benefit packages for their eligible employees, and WHEREAS, the Village of Oak Brook established a Flexible Benefits Plan for its eligible employees with the passage by the Village President and Board of Trustees of R -693 on the 8th day of July, 1997, and WHEREAS, the purpose of the Flexible Benefits Plan (Plan) is to allow the eligible employees of the Village of Oak Brook (Village) a method of funding for (1) the premium contribution for their Village - sponsored group medical and /or life coverages, (2) qualified dependent care, and (3) qualified unreimbursed medical /dental claims, using pre -tax monies rather than after -tax monies, and WHEREAS, the Village President and Board of Trustees of the Village of Oak Brook deems it necessary and in the best interests of the Village to continue with and amend the Flexible Benefits Plan NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS as follows Section 1 That the benefit election for eligible employees be increased from three thousand dollars ($3,000 00) to five thousand dollars ($5,000 00) for authorized expenses Section 2 That the term for the use of pledge benefits be amended to match the time allowed by the standards of the Internal Revenue Code Section 3 That this resolution shall be in full force and effect from and after its passage and approval as provided by law APPROVED THIS 13th day of December, 2005 f Kevi Quinlan, Villige President r PASSED THIS 13th day of December, 2005. Ayes Trustees Aktipis Craig, Kennedy, Manofsky, Sanford and Yusuf Nays None Absent None 7 '7^ Tyrm�.�.`�j•� ` k� S�J;__ �. y±',rsi tit 'y c' 1 , •. ti.. r ATTEST ©11 Linda K Gonnella, CMC Village Clerk