County_of_Sacramento_RHSP_Trust_Document.pdf

This document is a Declaration of Trust for the Sacramento County Integral Part Trust, established on February 6, 2007, between the County of Sacramento, California (the Employer) and the Director of Finance acting as County Treasurer (the Trustee). The trust is designed to create a post-retirement welfare benefit plan for eligible employees, specifically a Health Reimbursement Arrangement (HRA) known as the Retiree Health Savings Plan (RHSP). The trust will hold assets and income exclusively for the benefit of plan participants, their spouses, and dependents, with the primary purpose of providing post-retirement welfare benefits through insurance and self-funded reimbursement plans.

The trust allows the County to contribute $25 per paycheck into a participant-directed account, which most employee groups can access, though six unions have voluntarily suspended contributions. The maximum term of the trust is set at 99 years, and it provides flexibility for the Employer to modify, terminate, or reduce contributions to the plan at any time. The trust establishes investment fund options that recognize participants' diverse financial objectives, risk tolerances, and investment horizons. The current recordkeeper is MissionSquare Retirement (formerly ICMA-RC), which has administered the RHSP since its inception in 2007, providing services such as recordkeeping, participant education, enrollment services, and website hosting. The third-party claims administrator is Meritain Health, and Northwest Capital Management, Inc. serves as the investment consultant to the Plan Administrator.