277917 WHITE - CITY CLERK �i�:"-��
PINK - FINANCE �T COUACII �t �I� �
CANARY - DEPARTMENT � J.Devlin G I TY OF SA I NT �� ll L
BLUE - MAYOR File N O.
C uncil Resolution
Presented By �
Referred To Committee: Date
Out of Committee_By Date
WHEREAS, The Minnesota Mutual Life Insurance Compar�y insures the lives
of employees of the City of Saint Paul at the employee's expense under their
Policy No. 365379-G, and
WHIItFAS, The Minnesota Mutual Life Insurance Compan�r by a letter dated
December 22, 1981, a copy of which is attached. hereto and incorporated herein by
reference, indicates that the experience under the afore-mentioned group life
insurance policy has resulted in a dividend account balance in the a�aounts o�
$33,885.00, and
WHEREAS, The Minnesota Mutual Life Insurance Compar�y in said letter makes
a recoimnendation that the City Council authorize by resolution that this am�ount be
paid proportionate7y to these persons under said group who were insured on
September 30, 1981, now, therefore
BE IT RESOLVID, The Minnesota Mutual Life Insurance Company is hereby
authorized to distribute to such eligible employees a dividend representing approx-
imately 2�, of the premium paid, and
BE IT FIlV'ALLY RESOLVID, That the City Clerk be directed to prepare a
certified copy of this resolution and deliver the same to the Minnesota Mutua.].
Life Insurance Company as soon as conveniently possible.
COUNCILMEN Requestgd by Department of:
Yeas Nays /4
Hunt b
�evine In Favor
Maddox
McMahon
Showalter -�--- Ag8lnst BY
Tedesco
"�`'°" JAN 7 1982
For Appr ved b it orney
Adopted by Council: Date
Certified P s by Counc' ecr BY
By
Approved 6 17avor. Date AN o �982 App d by Mayor for,Sub issi to Council
By B
� � PUBt�SHED JAN 16 1982
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� 345 Cedar Street
- MINNESOTA St.Paul,Minnesota 55101
MllIUAL LIFE s�2/298-3500
�i���0����
cc: Mr. John Devlin
City of St. Paul
265 City Hall
St. Paul, MN 55102
Dec�ob+�r �2, 1981
Dale Johansen 6-759
Alice Johnson 6-722
Jim Johnson 5-724
Mr. Tbo�s aleason Dave Smith 6-790
Director of Person�ael
City of St. Paul
265 City Hall
St. Paul. !�i 5�10�
REs CITY OP ST. PAUL
OPTIONAL P/1�TICIPATING GROUP LIF$ IN$U&tI+ICB PL.AN
YOLICY #3653�9-a
D�ar Mr. Glessoni
The experienc� calculstioo tor tbe Janiury i, iS81 Lo �atober i, 1981 policy
year has he�e c�pl�ted. ?he prsmiums paxd bq City evployae� !or thia groexp
lif.e insuranas plan Mtre �1Y3�6►�9.ifl. Of t�at total, �i1,S70.SS was for
nom-participating AD6D covez�g�, snd �112,03$.ZS was tor participating lif•
in�urance cowra�e. Claim� i�ncurred aere ¢70,Oi8f ail clai�s �vsre on p�rticipating
aov�rage. A list o� the claisis i� �ncloe�d.
A convtrsion charge cav�rs �xcsss sortallty on neploye�s �►ho conv�rt ch�ir insnr-
an�s to individusL polici�s issued by Minnasota !lutwl. TAis conwrsion cbarge
is S60 per =1,000 of insuzanEe converted. During ths policy year, t�ro e�playees
convert�d a total of �33,000 af irsuraace. and the fonvarsion charge is �2�100.
A list af the canverting �ploqees !s also encloied.
The p1aA esraed a divldend oi �31,Z67 for ths policy y�*r. Ther. are also
additioaal divid�ud iands availabl• Mhich havs been l��t at l�tersst from pr�vious
policy years. Tl�e following tsble aho�s th� dividtnds availabls for distribution
as ot Octob�r 1, 1981e
Balance at interest Januarq 1, 198! = 163.i9
Interest to October 1, 1981 at 8.5R 10.40
Dividend �arned Octob�r 1, 1981 31i26i.00
Total dividend Octob�r i. 1481 ;31,440.39
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� �MINNESOTA si au�l,M ntnesota 55101
r. ��i ��ta on 612/298-3500�����;� r�
DaC�b�r 3�� 19$1 � /
Pag� 2
We recom�nd that tbsse diwtdends b� paid in cash to those e�loJeea aho were
ins�sr�d on Sept�mb�r 30, 1981. Th� dividend xould be s p�rcentage ot •ach
eligibla a�ploy�e'. pr�mluaa for tb� pa2lcy ylar. We can pr�pare the dividsnd
chocks i�or distribntion as •oca ss We r�eeiw qour authorisatio�.
?ht atatus of the stabi�is�tion ress�cv►s is s�aari��d heloiv. Tbis rss�rve aas
establishod ta stabilise experieAae �s�d c� provide for • awre cansistsnc p�ttarn
of probabls dividsnd returns. Bach year, a portios af ebe gross divid�nd
available. not esceRding it� oi the psemium s�csived ihat year, is �llocat�d to
this reserva uatil tbe seserve reachea a l�vel equal to 30'� of the current
annual ps�Ai�ua. Minnsaots Mutuil Cnrrently ar�dit• 8.5� annual int�r�st to
the stabilisation reserv�.
Btserve Balance Jaawz�r 1. 1981 ��2,48� _
Intorest to Oetober 1, 1981 at B.S�G 1.�46
Addition iro� �olicy j��ar sxperiex�ce 9.758
�as�rw balanc� Occob�r 1. 1981 �33�885
Also �ncle��d xith thit letter itt diselosurs information required by th� State
of Minnesota. In 1973, tbe dirn�sota lsgiola�ure •atablished di�cloaura
requiremsnts for insuranca plans Og gOV�xi�'IICA� cu�its. As indie�t�d on that
disclosure for�, the total rstantio� charg�s for ehf plan asr� $-1,�23. The
State of !linnesota was psid i1,616 as pr�mi� tax�s. Mother =b,i81 Mas paid
ta the Ochs Ag•ncy tor its �nrollaieat and se�rieing ot tba plan. Other
retention inalud�s f2,244 for prs�i� billi�g and collectioa snd �3,531 for
other fnsurance ¢cmpany e�epensts. Thes� expense chasgss wers reduc�d b�t an
interast credit of ;15,292, s�hich is the sumi of tbe cs�dits oa tbe disahilitY
clain res�nres �ich ezisted oA Januarp i, 1981 amd an tb� nst cash tlo�► rs�uit
af tbe policp yess.
W! appreciate the opportnnity to be cf s�rvfce to the City on [his insuranc•
progra�. If you havs ariy qusstions about this l�tter, p1�Aaa l�t m� knoW.
Sincer�ly,
�
�ob Olafson
Assistant Actuary
BO:ds
Bnclosnre
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:+�:i A �'�a�'... �
City of St. Paul - Employee Pay
Policy No. 365379-G
1-1-81 to 10-1-81
CLAIMS REPORT
DEATH
Name Date of Death Age at Death Amount
Crowell, [dilliam H. OS-07-81 73 � 2,000
Diaz, Joe Mary 03-07-81 52 4,000
Dupre, Milton H. OL-23-81 58 2,000
Hall, Robert F. 08-24-81 48 20,000
Hedman, James A. 06-21-81 + 54 4,000
Hermann, ltaymond J. 04-16-81 62 4,000
Hunt, Richard R. 01-10-81 49 10,000
Mertz, John J. OS-03-81 60 2,000
Spilman, Kenneth E. 03-31-81 60 1,000
Streich, Henry J. OS-19-81 67 10,000
TOTAL �59,000
CONVERSIONS
Name Effective Date Amount
Hanafin, Janet E. 04-10-81 $30,000
S�hubring, Richard W. 08-08-81 5,000
TOTAL �35,000 '
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Age at Date of Amount of Reserve on Reserve on
Na�e Onset Onset Insurance 12-31-80 09-30-81
Abrahamson, Willard 63 03-16-76 $ 7,000 $ 3,752 $ 3,563
Anderson, Donald 61 01-06-81 15,000 11,550 10, 770
Antonsen, Lillian 58 04-00-78 5,000 3,860 3,625
Anzivino, Anthony 60 12-28-77 5,000 3,925 3,670
Aras, Casimir 59 08-25-76 2,000 1,574 1,484
Augst, George 54 12-13--77 4,000 2,968 2,756
Awsumb, Stuart 61 11-2$-75 2,000 1,604 1,506
Barrett, Eugene 62 02-25-81 10,000 7,210
Barrett, Margaret 58 12-03-75 2,000 1,576 1,472
Becker, Michael 44 08-18-75 3,000 1,956 1,791
Bohrer, Lester 58 08-24-68 2,000 1,658 1,580
Carlson, Roy 58 03-05-73 5,000 3,990 3,770
Colonna, John 60 08-20-77 2,000 1,570 1,482
Crea, Joseph 56 08-20-76 15,000 11,520 10,800
Crowell, William 64 07-31-72 2,000 548 0
Dorr, John 51 04-30-77 4,000 2,844 2,652
Dupre, Milton 51 06-24-74 2,000 1,460 0
Edwards, George 57 03-16-73 2,000 1,584 1,494
Ehrman, George 62 06-26-76 6,000 4,R�n 4,554
Ferderer, �ichael 61 12-02-76 1,000 796 746
Ferguson, Eugene 59 O1-05-79 5,000 3,875 3,625
Flanagan, Joseph 60 09-24-79 2,000 1,560 1,460
Gall, Ida 62 08-11-80 3,000 2,319 2,217
Gallas, T�illiam 50 09-28-78 20,000 13,860 12,900
Graven, 4alph 55 03-17-78 15,000 11,205 10,485
Greer, Myron 54 11-07-71 2,000 1,556 1,450
Haroldson, Frances 47 01-26-52 1,200 1,036 999
Harrington, Charles 62 O1-19-76 15,000 4,000 11,385
Hegge, John 61 08-10-81 15,000 10,770
Hieb, William 52 04-06-79 4,000 2,856 2,652
Holm, Arman 54 11-06-67 5,000 4,050 3,845
Horning, Roy 64 O1-05-77 3,000 786 744
Hostrawser, Douglas 63 02-28-72 1,000 555 530
Huberty, Frank 63 01-12-71 3,000 1,677 2,436
Hurley, Lawrence 58 OS-10-76 1,000 782 736
Johnson, Ellen 60 03-31-79 1,000 779 730
Johnston, Joseph 62 06-11-71 2,000 1,670 1,594
Juveli, Gordon 56 06-23-80 1,000 740 708
Keeley, John 53 02-15-77 3,000 2, 196 2,052
Kern, Harvey 50 03-27-70 1,000 762 705
Klein, Agatha 59 07-27-73 4,000 3,216 3,044
Konop, Donald 60 01-31-77 7,000 5,495 5, 187
Konop, Irene 47 01-29-75 4,000 2,744 2,524 '
Kopp, William 62 08-30-76 2,000 1,600 1,518
Lamma, Harold 64 08-02-65 1,000 885 852
Leach, George 52 03-01-72 10,000 7,530 7,050
Lemire, George 55 08-31-75 15,000 11,445 10,710
Lindrud, Stanley 63 11-18-75 10,000 5,410 5,090
Listner, Oliver 43 09-04-73 6,000 3,942 3,624 ;
Loeffler, Fred 59 05-13-70 2,000 1,658 1,566 �
Lund, Elmer 46 03-18-71 6,000 4,242 3,930
Lund, Herbert 51 01-05-69 1,000 7?9 735
Age at Date of Amount of Reserve on Reserve on
Name Onset Onset Insurance 12-31-80 09-30-81
Lyons, Marie 56 01-13-58 � 1,000 $ 880 � 852
Magnuson, Ordena 62 08-22-80 1,000 773 739
�ariano, Frank 45 OS-03-73 1,000 678 625
Masson, Justin 57 12-01-72 1,000 798 747
Mich, Barrett 53 06-08-71 2,000 1,540 1,470
Monno, Raymond 61 03-17-79 5,000 3,915 3,670
Moravec, August 49 O1-19-76 3,000 2,100 1,941
Moss, John 57 03-00-77 10,000 7,730 7,260
Mueller, Henry 55 03-27-74 1,000 768 719
Munoz, George 49 01-10-79 7,000 4,753 4,403
Murp�y, Maurice 61 12-06-74 4,000 3,236 3,044
Nahl, Walter 62 06-28-78 1,000 788 743
Nickelson, Grace 48 04-14-73 1,000 708 655
Niemela, Victor 58 09-22-78 5,000 3,860 3,625
0'Bryan, John 46 08-22-79 15,000 9,615 8,880
0'Jurovich, John 58 06-14-76 5,000 3,910 3,680
Olson, Richard 52 08-01-79 5,000 3,575 3,315
Opheim, John 59 01-02-79 5,000 3,875 3,625
Paul, Aivery 53 03-08-75 4,000 2,976 2,772
Person, Dan 61 06-25-79 10,000 7,830 7,340
Peterson, Alvin 62 IO-03-77 1,000 793 743
Peterson, Leslie 60 04-10-80 15,000 0 10,950
Petrie, Chester 59 06-24-80 4,000 0 2,908
Pilla, Pat 59 08-22-77 6,000 4,686 4,416
Priester, Joseph 57 10-10-80 6,000 4,554 4,368
Quaas, Frederick 59 05-03-77 1,000 781 736
Rea, Tho�as 58 04-05-72 1,000 804 761
�eedy, Frances 58 07-13-78 5,000 3,860 3,625
Rice, Robert 58 12-01-77 2,000 1,554 1,450
Sanders, Lewis 55 10-19-72 1,000 780 727
Sauser, Arthur 62 07-25-77 1,000 793 751
Sc�eck, Florence 56 12-04-69 2,000 1,620 1,538
Shijo, Isamo 59 03-2b-77 1,000 781 736
Smith, James 62 08-31-77 3,000 2,379 2,25?
Soderman, Vetallis 61 11-24-75 2,000 1,604 1,506
Spilman, Kenneth 54 11-24-75 1,000 754 0
Spinner, Wilbur 63 11-14-72 6,000 3,330 3, 150
Starfield, Glenn 27 07-12-73 1,000 499 443
Stein, �obert 46 04-24-74 1,000 681 626
Streich, Henry 63 07-20-77 10,000 5,310 0
Swanson, Paul 41 12-01-78 5,000 2,875 0
Swearingen, Robert 55 OS-28-79 1,000 746 695 �
Swiger, William 51 04-16-75 2,000 1,448 1,344
Tague, Edwin 53 03-17-78 5,000 3,630 3,390 ,
Tester, Clyde 61 04-30-70 3,000 2,505 2,391 �
Thill, Joseph 58 02-09-76 2,000 1,564 1,472 �
Thole, Harold 59 09-13-73 3,000 2,412 2,283 { `
Thomas, John 57 06-27-76 1,000 778 730 ''
Tjomsland, Florence 53 10-10-75 4,000 2,976 2,752
Tucker, James 57 12-31-77 4,000 3,092 2,884 ;
Urbanski, Sabina 61 02-21-73 1,000 816 776
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Age at Date of Amount of Reserve on Reserve on
Name Onset Onset Insurance 12-31-80 09-30-81
Vannoy, Ferril 63 03-23-76 $ 2,000 $ 1,072 $ 1,018
Waczak, Stanley ' S7 12-26-79 2,000 1,544 1,434
Weidner, Joseph 40 05-24-68 10,000 6,880 6,350
Woodward, Byron 52 09-15-75 3,000 2,421 2,304
TOTALS $ 475,200 $303,375 $314,393
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EXPLANATION OF ADMINISTRATIVE ORDERS,
RESOLUTIONS, AND ORDINANCES �'`��'����
Date: 12-23-87-
1R�CEIVED
T0: MAYOR GEORGE LATIMER UtL 2 4 1981
FR: Personnel Of f ice MAYORS OFFICE
RE: Resolution for submission to City Council
ACTION REQUESTED
We recommend your approval and submission of this Resolution to the City Council.
PURPOSE AND RATIQNALE FOR THIS ACTION
Authorization to pay employees dividends on their life insurance.
FINANCIAL IMPACT
None
ATTAC�IlKENTS:
Proposed Resolution