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Home My WebLink AboutCity of Tamarac Resolution (298)Temp. Reso. #9930-October 9, 2002 Page 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2002- S A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO APPROVE THE RENEWAL OF BASIC LIFE INSURANCE AND ACCIDENTAL DEATH & DISMEMBERMENT COVERAGE WITH METROPOLITAN LIFE INSURANCE COMPANY AT A REDUCED PREMIUM FOR BASIC LIFE INSURANCE AND ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE COVERAGE EFFECTIVE JANUARY 1, 2003; PROVIDING FOR THE CONTINUATION OF THE EXISTING COST ALLOCATION OF THE BASIC LIFE INSURANCE AND ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE PREMIUM BETWEEN THE CITY AND EMPLOYEES; APPROVING THE APPROPRIATE BUDGETARY TRANSFERS OF FUNDS; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the basic life insurance and accidental death and dismemberment coverage was awarded to Metropolitan Life Insurance Company is scheduled to expire on December 31, 2002; and WHEREAS; Metropolitan Life Insurance Company has indicated its desire to renew basic fife insurance and accidental death and dismemberment coverage for the City of Tamarac as indicated in the renewal letter from Metropolitan Life Insurance Company, which is attached hereto as Exhibit #1; and WHEREAS, the City has received a reduction in premiums for this renewal period for basic life insurance coverage from January 1, 2003 through December 31, 2003; and Temp. Reso. #9930-October 9, 2002 Page 2 WHEREAS, the premiums for basic life insurance coverage will be; $.33 per month per $1,000 from January 1, 2003 through December 31, 2003; and WHEREAS, the City has received a reduction in premiums for this renewal period for accidental death and dismemberment coverage from January 1, 2003 through December 31, 2003; and WHEREAS, the premiums for accidental death and dismemberment coverage will be; $.04 per month per $1,000 from January 1, 2003 through December 31, 2003; and WHEREAS, there will be no change in the various premiums that retirees pay for basic life insurance or accidental death & dismemberment coverage effective this renewal period, January 1, 2003 through December 31, 2003o and WHEREAS, the Human Resources Director recommends the renewal of the basic life insurance and the accidental death & dismemberment coverage with a reduction in premiums effective this renewal period, January 1, 2003 through December 31, 2003; and WHEREAS, available funds exist in the appropriate funds which are in the approved FY2003 Budget; and WHEREAS, the City Commission has deemed it to be in the best interest of the citizens and residents of the City of Tamarac to provide basic life Temp. Reso. #9930-October 9, 2002 Page 3 insurance and accidental death and dismemberment benefits for City employees. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution. SECTION 2: That the appropriate City officials are hereby authorized to approve the renewal of Metropolitan Life Insurance Company as the City's carrier for basic life insurance and accidental death & dismemberment coverage for City of Tamarac employees with a reduction in premiums effective this renewal period, January 1, 2003 through December 31, 2003 with the monthly premium reduction as follows: Basic Life $.36 to $.33 per month per $1,000 and Accidental Death and Dismemberment $.05 to $.04 per month per $1,000. SECTION 3: That the appropriate City officials are hereby authorized to continue the existing cost allocation of the basic life insurance and accidental death & dismemberment premium between the City and the employees. ;SECTION 4: That the appropriate City officials are authorized to enact appropriate budget transfers as needed for this purpose. SECTION 5: That all resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Temp. Reso. #9930-October 9, 2002 Page 4 SECTION 6: That if any clause, section, or other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION is This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this 23d day of October, 2002. ATTEST: MARION SWENSON, CMC CITY CLERK I HEREBY CERTIFY that I Have approved this R�SO LUTION as to. form. VITCHELL S. KRa CITY ATTORNEY f ,10E SCHREIBER MAYOR RECORD OF COMMISSION VOTE. MAYOR SCHREIBER DIST 1: V/M. PORTNER DIST 2: COMM. MISHKIN ?z;i. DIST 3, COMM. SUL.TANOF DIST 4: COMM. ROBERTS VI : U'J 4 Ul — i"l f i i October 9, 2002 Kim Frisbre City of Tamarac 7525 N-W. 88th Avc. Tamarac, Fl.. 3:3321 i Re: !City of Tamarac Renewal - o1101/2003 Clear Kim Frisbie, E HET-1 .ir l_: r:)CIIIIIrr I 1"FMI', RI-IS0. ##f#gl' MetLif�e MetLife appreciates the opportunity to be, ra part of your benefit I togram. this letter confirms your renewal for the 2003 plan year. I am pleased to ,advise you that the Active Basic Life/AD&D rates currently in effect will be reduced for the next plan year commencing can 01/0112003. 1 would also like to offer you the option of extending the rates for an additional 2 year(s), through 12/31/200b, In detr'rmining both the r,ites for the plan year ahead and the offer to extend these rates through 12/31/2005, we have ev',1I1Jat0d your plan experience, taking into account the credibility of the experience and the dernographics of your gf-oup, Our objective in the renewal process is to identity rate$ whirl, will maintain the over.~rli financial stability of your benefit program. TFre rate„ currently in affect for Your contract with Metfife are as follows; Basic fife - Active Basic Life — Retiree 50 — 54 Basic Life — Retiree 55 ..-- 5Q Basic Life -- Retiree 60 — 6,4 Basic Life -- Retiree 65 - 69 Basic Life — Retiree 70 — 74 Basic 1-ife, — Retiree /b -- 79 Basic fife Retiree 80 — 84 Accidental Death or dismemberment Ctlrrent/Renewal Rate(s) & 33 / 1 q00 $ 79 / $ 1000 $1,2 / $ 1000 $1.7 /$ 1000 $2. C / $ 1000 $3 6 / $ 1000 `i75.8 / $ 1000 $.04 / $ 1000 The rate, shown above i,;,,sume your existing plan design. contribution strur turn and group(k,rnographic s remain the same. I will follow up with you about our offer to gurararitee rates through mo/day/year. In the Interim, Please do not hesitate to contact me at (727) 660.-2314 if I may answer any questions or assist in any way. lf�- 2- 1 ,.; ii - hi1!_..lf E:riFfIL,1F' .:.�a1 C,'; On('e again, thank you for the privilege you have extended to u,,; you �rer the reason we are ir, business- We look forwarci to continuing our mutually beneficial relationship in the months and Years ahead. f►�; (ly, Truck Henderson Client Fxecutiv( Life • Dental • Disability - !..-ong _I enrr Care - P&C* - Voluntary Products • Pensions + Investments • 401 W Metropolitan Life Inswance Company New York, New Yaik I()010 L02036GUQ (expp3()3)M L.IC-LU "(.Jndr3rwrittnn I ly Metropolitan Property and Casualty Insurance C;crmpOny and it 1f9iatt s, WarwicK, R1,