277918 WNITE - CITY CLERK �k---��
PINK - FINANCE T TT � �
CANARY - DEPARTMENT �U�DC�TZ�YI G I TY OF SA I NT �� t} L COUACII �, �'��.�
BLUE - MAYOR
File N .
o ncil Resolution
Presented By �
Referred To Committee: Date
Out of Committee By Date
WHEREAS, The Minnesota Mutual Life Insurance Company insures the lives of
dependents oP employees of the City of Saint Paul under their Pblicy No. 2881-G, and
WH�tEAS, The Minnesota Mutual Life Insurance Company by a letter dated
December 21, 1981, a copy oP Which is attached hereto and incorporated herein by
rePerenee, indicates that the experience under the afore-mentioned. group life
insurance policy has resulted in a dividend account balance in the am�ount of
$85,776.99.
WHIItEAS, The Minnesota Mutual Life Insurance Com�pany in said letter makes
a recomanend.a,tion that the City Council authorize by resolution that this am�unt be
paid proportionate�y to these persons under said group who were insured. on September
30, 1981, now therefore
BE IT RESOLVID, The Minnesota Mutual Life Insurance Compar�y is hereby
authorized to distribute to such eligible employees a dividend representing approx-
ima.tely 80� of the premi� paid, and
BE IT FINALLY RESOLVED, That the City Clerk be directed to prepare a
certified copy of this resolution and deliver the same to the Minnesota Mutua.l Life
Insurance Company as soon as comreniently possible.
COUNCILMEN Requestgd by Department of:
Yeas Nays
Hunt
Levine In FBVO[
Maddox
McMahon � B
Showalter __ Against Y
Tedesco
�''"'' JAN 7 1982
Form proved 't or
Adopted by Council: Date — �.
Certified •s•ed by Council Sec� By
BY –
Approved ayor• Date Appr by Mayor for Sub�i siqn t}o Council
� BY - '
PUBLISHED J A N 1 � 1982
. . �1'c'��
�
� �MINNESOTA� �s cedar street
MU�I�I L�FE 612/298-5100esota 55101
CC: Mr. John Devlin
City of St. Paul
265 City Hall
St. Paul, MN 55102
' Dale Johansen 6-759
pecamb�r 2�� 1981 Alice Johnson - 6-722
Jim Johnson 5-724
Dave Smith 6-790
Mr. 'fhaus Gl�ason
Dirsctor ot Personnel
City of 8t. �'�ul
26S City Hsll
St. �aul� MN SS102
88 s C�TY Ol� ST. PAUL
DBPBI4D8l1T3 OxtWF LIPB I�18tJRANGB Pt�AT+i
POLICY �2881-G
Dear !!s. G2�asoa�
The dividend on this plan far the Jsnua�cy i, 1981 to Octob+er i, 1961 policq year
is �8S.S44. Th� pr�mienu paid far tht poliap year vss �103,813. Iacurred al�ims
M�r� �7�OQp. A listing of tbe ciaima is enclosed,
A conversion charg� o! �60.per 51�000 of ir+suraaue is clurged for dependents aho
converC tb�ir insurx�c� to iadividwl policisa issu�d by �dinnssota Mutual. Dari�g
tht polic� pear, tive dop�ndenCs convert�d a total o� �16�Q00 ot inauranc�, and
tbe conv�rsion charge is �960. A liaC of ths coaver�ions is sl�o �nclvsed.
In �y lstt�r ta yvu at ch� �nd of th� 1980 policy y�ar, 1 show�d ;253.21 ot
divid�nds r�saining at ir�tersst an Janwry 1, 1981. Atter �r lttter Nss �sitte�.
we dae� Lvo �dditional dividead ch�cks totallieRg �38.88. i.avsAg • balance of
�214.33. 'The following tabls sboxs the total divid�sads availabl� for
distributian on Octaber 1, i961.
Halanc� at intsr�at .1AAi1�Y'r 1� 19$1 � 214.33
Inter�st to October �. 1981 at B.S; i3.66
Dividsnd esra�d Octob�s 1. 1981 8S,S49.00
_,
Toeal divid�nd Octob�r 1, 1981 �85,776.49
� ' ,. i�.---'r'i
345 Cedar Street�� ��-�^�
1 �MINNESOTA St.Paul,Minnesota 55101
MUTUAL LIFE 612/298-3500
Mr. ?hosss tfle�san
Ilecember ���, 1981
Ysgs 2
t�e rsaonsend cbat these dividends be paid in cash to tbose e�ployees Who a�re
insurfd on Sept�mber 30, 1981. The dividand �ill bf � psrasnta�� ot each
eligibl� �ploy�o's prseiiu� �or the policy y�ar. Distribution of tbs diwidend
cbecko can b�gin just a• soon as w• rtceivs your authori:ation.
If you havs aAy questiona about tb�s letter, plsase l�t ns knrn+.
Siac�rely,
�
Rob�rt Olafso
AssisCant Actuary
x0eds
gnclosure
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CITY OF ST. PAUL
GEPENDENTS GROUP LIFE INSliRANCE PLAti
POLICY i�'0. 2881-G
CLAIMS REPORT
1-1-81 TO 10-1-81
DEATH
Date of Age at
Name Death Death Amount
Becker, Christine S. 06-23--81 14 $1,000
Locher, Terrence A. 03-04-81 35 5,000
Lund, Irene L. Ob-24-81 59 1,000
$7,000
There were no AD&D claims this year.
� . �%��'�����
CITY OF ST. PAUL
DEPENDE�ITS GROUP LIFE INSURANCE PLAN
POLICY N0. 2881-G
CONVERSION REPORT
1-1-81 TO 10-1-81
Name Effective Date Amount Converted
Campbell, Rose Mary 07-17-81 $ 3,000
Davoli, t-Sary G. 02-�01-81 3,000
Muellner, Patricia Ann 08-06-81 3,000
rfuellner, Suzanne R. 08-06-81 5,000
Schubring, Caro1 A. 08-08-81 2,000
� 16,000
� ` F, /Yi �-P� � �'�i-a,55
2L1`�918
� � ' EXPZANATION OF ADMINISTRATIVE ORDERS,
,
RESOLUTIONS, AND ORDINANCES
Date: 12-23-81
�R�CEIVED
TO: MAYOR GEORGE LATIMER u t� � 319 81
FR: Personnel Of f ice �AYORS 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 RATIONALE FOR THIS ACTTON
Authorization to pay e�ployee dividend on th�ir dependents life insurance.
FINANCIAL IMPACT
None
ATTACI�IENTS:
Proposed resolution