Laserfiche WebLink
<br />CITY COUNCIL MEETING DATE: <br /> <br /> <br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />AUGUST 18, 2008 <br />TITLE: <br /> <br />EMPLOYEE GROUP INSURANCE <br />RENEWALS <br /> <br />APPROVED <br /> <br />o As Recommended <br />o As Amended <br />o Ordinance on 151 Reading <br />o Ordinance on 2nd Reading <br />o Implementing Resolution <br />o Set Public Hearing For <br /> <br />')JVJC2 <br /> <br />CITY MANAGER <br /> <br />CONTINUED TO <br /> <br />~~! <br /> <br />--"" <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />Authorize the City Attorney to prepare and authorize the City Manager and <br />Clerk of the Council to execute agreements for long term disability, <br />medical, dental, vision, employee assistance and supplemental employee <br />group life and accidental death & dismemberment insurance. <br /> <br />DISCUSSION <br /> <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 (AD&D) coverage and long term disability (LTD) <br />insurance through AIG Life Insurance Company for full-time employees. We <br />are currently in the second year of a two year rate guarantee for our <br />life insurance agreement with AIG. AIG has agreed to a rate pass on the <br />current LTD and AD&D insurance plan rates through December 31, 2009. <br /> <br />Life Insurance <br /> <br />Insurance Current Insurance Percent Change <br />Coverage Insurance Rate Renewal Rate <br />Life Insurance $0.15 per $1000 $0.15 per $1000 0.0% <br />Accidental Death $0.03 per $1000 $0.03 per $1000 0.0% <br />& Dismemberment <br /> <br />25K-1 <br />