TRANSMITTAL LETTER FOR BOARD MEETING OF MARCH 5, 2020
COMMITTEE ON FINANCE
Mr. Brian A. Perkovich, Executive Director
Title
Authority to Amend the Metropolitan Water Reclamation District Retiree Health Care Plan Document and Trust Agreement, dated as of March 5, 2020
Body
Dear Sir:
Attached for the Board’s consideration and adoption are the revised Metropolitan Water Reclamation District Retiree Health Care Plan (“Plan”) Document, and the Metropolitan Water Reclamation District Retiree Health Care Trust (“Trust”) Agreement. These documents govern the administration of the District’s Other Post Employment Benefits (“OPEB”) program.
The law firm of Thompson Coburn was selected through 19-RFP-22 to review and provide recommendations to the District’s Plan Document and Trust Agreement to ensure conformity with Section 9.6d of the District’s Statute, consistency of definitions and nomenclature of key terms and parties, and compliance with all relevant regulations and legal requirements. Accordingly, the attached Plan Document was revised to clarify certain definitions, eligibility, election, benefit provisions, claims, appeals, and anti-assignment and legal provisions, along with the addition of details on compliance with the Health Insurance Portability and Accountability Act (“HIPAA”). The attached Trust Agreement was revised to clarify roles and duties, accounting and reporting provisions, and the amendments and termination process, and it also removed miscellaneous provisions that do not apply to a Trust Agreement. A summary of changes to both documents is attached.
Also provided as part of the OPEB Plan and Trust document review are best practices for administration of the OPEB program according to legal and industry standards. District staff will implement any items not yet included in the administration of the Plan and Trust.
It is recommended that the revised Plan Document and Trust Agreement be adopted by the Board of Commissioners for the administration of the District’s OPEB program.
Requested, Mary Ann Boyle, Treasurer, MAB:WNS
Respectfully Submitted, Frank Avila, Chairman Committee on Finance
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for March 5, 2020
Attachments