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2008-163
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2008-163
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Last modified
6/28/2024 11:45:00 AM
Creation date
9/30/2015 5:44:14 PM
Metadata
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Resolutions
Resolution Number
2008-163
Approved Date
09/23/2008
Agenda Item Number
9.A.
Resolution Type
Post-Employment Benefits
Entity Name
Indian River County OPEB Trust
Subject
Establishing the Indian River County OPEB Trust
Irrevocable Section 115 Trust
Governmental Accounting Standards Board Statements 43 and 45
Establishing the BCC as the OPEB Board of Trustees
Providing for the Duties and Powers of the Trustee
Supplemental fields
SmeadsoftID
5658
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RESOLUTION NO. 2008-163 <br />(g) "Benefits" shall mean post -employment benefits paid pursuant to the Plan <br />on behalf of Beneficiaries after an employee's separation from service, other than <br />pension benefits. Depending on the specific provisions of the Plan, such benefits may <br />include, but shall not necessarily be limited to, premiums for medical and prescription <br />drugs expenses, Medicare Part B premiums, Medicare Advantage Plan ("MAP") <br />premiums, and life insurance premiums. <br />(h) "Board of County Commissioners" and "Board" shall mean the Indian <br />River County Board of County Commissioners. <br />(i) "Budget Director" shall mean the person holding the office of Indian River <br />County Director of the Office of Management and Budget. The Budget Director is an <br />employee of Indian River County. <br />Q) "Clerk of Court" shall mean the person holding the office of Indian River <br />County Clerk of Circuit Court and Comptroller, pursuant to Florida law. <br />(k) "Code" means the Internal Revenue Code of 1986, as amended. <br />(1) "County" shall mean the Indian River County, Florida, acting through its <br />Board of County Commissioners. <br />(m) "County Constitutional Officer" and "County Constitutional Officers" shall <br />mean the persons holding the offices of Sheriff; Tax Collector; Property Appraiser; <br />Supervisor of Elections; and Clerk of the Circuit Court pursuant to Article VIII, section <br />1(d) of the Constitution of the State of Florida. <br />(n) "Finance Director" shall mean the person holding the office of Finance <br />Director. Pursuant to applicable Florida law, the Finance Director is an employee of the <br />Clerk of Court. <br />(o) "Fiscal Year" shall mean October 1 of any year through September 30 of <br />the following year. <br />(p) "GASB" shall mean the Governmental Accounting Standards Board. <br />(q) "Generally Accepted Accounting Principles" shall mean accounting <br />principles generally accepted in the United States of America. <br />(r ) "Human Resources Director" shall mean the person holding the office of <br />Indian River County Human Resources Director. The Human Resources Director is an <br />employee of Indian River County. <br />(s) "Minimum Annual Payment" and "Pay-as-you-go' amount shall mean the <br />annual amount paid by the County, if any, toward Benefits, that, when combined with <br />the Trust assets, will provide sufficient funds to cover all Benefits and related <br />Administrative Expenses for that Fiscal Year. <br />3 <br />
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