Title
Resolution - Approval of ERISA Self-Insured Medical Plan Document - A Stover
Other Info
Submitted By: A Stover
Department: General Counsel
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
Pedernales Electric Cooperative, Inc. (PEC or the Cooperative) recommends the adoption of the Pedernales Electric Cooperative, Inc. Self-Insured Medical Plan to comply with mandatory and certain optional requirements of law.
Body
WHEREAS, effective January 1, 2025, the Cooperative transitioned to a self-insured medical plan structure and must adopt a self-insured medical plan document in accordance with legal requirements under the Employee Retirement Income Security Act of 1974 (ERISA), which shall be referred to as the Pedernales Electric Cooperative, Inc. Self-Insured Medical Plan (Medical Plan), to be effective January 1, 2025.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Medical Plan substantially the same form presented to the Board in Executive Session, is hereby adopted, effective January 1, 2025;
BE IT FURTHER RESOLVED that each of the officers of the Cooperative is hereby individually authorized, empowered and directed to take all actions and steps necessary or advisable to implement the adoption of the Medical Plan in accordance with the terms of the Medical Plan and applicable law;
BE IT FURTHER RESOLVED that any and all actions taken prior to the date hereof by an officer of the Cooperative or other Cooperative employee in respect of, related to or in connection with the preceding resolutions are hereby ratified, confirmed and approved in all respects;
BE IT FURTHER RESOLVED that the officers of the Cooperative are authorized and empowered individually to execute and deliver such additional agreements, instruments and documents, and to take or cause to be taken such other actions, as the officer may deem necessary, advisable or appropriate to implement the purpo...
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