HomeMy WebLinkAboutCity of Tamarac Resolution R-89-080Temp. Reso. #5383
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
3"
33
34
35
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-89r e?O
A RESOLUTION INCREASING
AND RIDISMEMBERMENT FINSURANCE,
ACCIDENTGROUP
AL DECY
NORTH AMERICAN LIFE ASSURANCE
SS NRAANEEFFECTIVE�DATEx
#NG-01-013634; AND
awarded bids for group life and
WHEREAS, the City
Accidental Death and Dismemberment Insurance by the adoption
of Resolution R-88-323 to North American Life Assurance
Company, Policy #NG-01--013634r on December 2, 1988-
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That the rates of the Accidental Death and
Dismemberment Insurance with North American Life Assurance
Company have increased from a rate of $.04 per $1,000.00 to
a rate of $.05 per $1,000.00, representing an additional cost
to the City of approximately $1•
000.00 annually (the rates of
$.31 per $1,000.00 of life insurance remains unchangedo
SECTION 2: That the rates of $.31 Per $1,000.00 of life
Accidental Death and
insurance and $.05 per $1,000.00 of
Dismemberment Insurance are guaranteed for a 26-month period
from December 1, 1988- ok,
PASSED, ADOPTED AND APPROVED this /,;?- day °f
1989.
ATTEST: NORMAN ABRAMOWITZ
MAYOR
CAROL A. EVANS =
CITY CLERK
I HEREBY CERTIFY that I have
approved this RESOLUTION as to RF.cORDQFGDUNC�I.-00M
form, r MAYOR
l LV1 0NTWT L.
RICHARD DOODY
CITY ATTORNEY
! Rachman insurance Services
March 10,1989
Mr. Peter M. (hack
Personnel Director
City of Tamarac
7525 N.W. 88th Ave.
Tamarac, Florida 33321-2401
1!� _ MAR I 0 laQ•l f:. cw:�
•-�� 1�� ��I''rtG1�k"
Re: Letter dated 3/9/89 concerning North American Life policy
# NG-01-013634
Dear Peter:
North American Life submitted a Bid to the City of Tamarac as
per the city 's request # 88-38 dated Sept. 26,1988. The bid specs
assumed an effective date of November 1,1988 and included a census of
342 employees. Your rate at that time with Sun Life was .334 per
thousand for Life and .045 for AD&D and the renewal wouldbe .361
and .04 .
North American bid .31 for Life and .04 AD&D assuming the 342 lives
and the November 1st. effective date. The actual effective date was
December 1,1968 ( Larry Parretti decided to stay with Sun Life for
the month of November).
Peter, as you know several .factorsl go iq to 74 tablitijh rig' a rate%
for group_, insurance:: They are the number,.of employeei', 'e'geer of the'
employaww.p j-ob .classifi:cation", eff..aCt p �iteh'i�`f p1'ar YrCtrna'nf
coverage. We only -f- 1-,"( a .,difference -
of 9%-) and the average `age ;changed �p _ra ,��thd;rsi pctive_":.date:: All
Insurance Companies state in their proposals that ftrfaA:,.rates:will
be determined from exact birthdatem.,-sexes, an•d--z4mauntip,.,af insurance
in forceran the..effectiveAate selatted.'and subject to Home office
review and approval.
I would also mention that we covered the Retirees at your old rates
although no mention was made in the Bid specs as to who they were,
or if there were any covered and at what rate.
The final rate from North American is .31 per thousand for Life and
.05 for AD&D.The rates are below the Sun Life both before and after
renewal. North American's rates are guaranteed for 26 months.
We discussed the other points in the letter,yesterday on the phone
with the exception of the booklets which are being'traced.Please
advise as to any questions that you have regarding the items covered
in this letter.
Continued:
7501 N.W. 4th Street, Suite 212D « Plantation, FL 33317 • (305) 583-0485/583-0486
0/0,
Page
Si cere ,
. Rachman
cc:F'red Crofoot
North American Life
CJ
L�
ergq_ go