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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />September 17, 2007 <br />TITLE: <br />EMPLOYEE GROUP INSURANCE <br />RENEWALS <br />R w <br />MANAGE <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 1S' Reading <br />^ Ordinance on 2"d Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Attorney to prepare and authorize the City Manager and <br />Clerk of the Council to execute agreements for employee group life and <br />accidental death & dismemberment, long term disability, medical and <br />dental insurance. <br />DISCUSSION <br />The City's employee group benefit policies, contracts and agreements are <br />renewed annually on January 1. Currently we provide life and accidental <br />death & dismemberment coverage and long term disability insurance through <br />AIG Life Insurance Company for full-time employees. AIG has agreed to <br />renew our life and accidental death & dismemberment insurance agreement <br />with a slight increase in cost for a two year period. AIG has agreed to <br />a rate pass on the current LTD and Supplemental Insurance plan rates <br />through December 31, 2008. <br />Life Insurance <br />Insurance Current Insurance Percent Change <br />Coverage Insurance Rate Renewal Rate <br />Life Insurance $0.13 per $1000 $0.15 per $1000 15.4% <br />Accidental Death $0.03 per $1000 $0.03 per $1000 0.0% <br />& Dismemberment <br />25A-1 <br />