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272328 WHITE - GTV CLERK ������. PINK - FINANCE T COUIICil CANARV - DEPARTMENT �t1.De�vlin GITY OF SAINT PAUL File NO. R "` � BLUE - MAVOR ouncil Resolution Presented By Referred To Committee: Date Out of Committee By Date WHF�2EAS, The City of Saint Paul now provides Optional Life Insurance for its employees and employess of the Independent School District #625 at group rates through Minnesota Mutual Life Insurance Company of Saint Paul, now therefore be it RESOLVID, That the present life insurance contracts #1520-G anct #36S379-G between the Minnesota Mutual Life Insurance Company and the City of Saint Paul and Independent School District #625 be continued, in their present entire forms, for the calendar yeax of 1979, and be it FURTHF�t RESOLVID, That the premi.tiuns for said contracts for �he yeax of 1979 are to be as follows: Optional grrployee Pay Coverage - Rate Per �1,000 E]nployee under age 30 $ .20 Per M�onth F�nployee age 30 - 39 .30 Per Month Employee age �+0 - �+9 .60 Per Month Elrcployee age 5� - 5�+ 1.10 Per Month Ehrployee age 55 - 59 1.60 Per Month Ec�ployee age 60 - 64 2.40 Per Month F�nployee a.ge 65 - 6g 3.60 Per Month and be it FURTHEft RESOLVID, That in order to stabilize experience and provide for a more consistent pattern of probable dividend returns, the Minnesota Mutua,l will continue to allocate paxt of the gross dividend available, not exceeding 10°�0 of premium received in any one yeax, to a stabilization reserve on such optional insurance issued. in excess of �15,000 until such reserve reaches a level equal to 50°fo of the current annual premi.um. Minnesota Mutual credits interest to stabilization reserves, at a rate of 7�O annually for the yeax 19'79, and be it FIlVALLY RESOLVID, That the City Clerk be instructed to send a copy of this resolution to the Minnesota Mutual Life Insurance Company. COUNCILMEN Requested by Department of: Yeas Nays �r In Favor Hozza Hunt � __�__ Against BY — — Showalter Tedesco JqN 4 �9�9 Forme by Cit A orne Adopted by C cil: Date (� — � � c Certifi as• by Council Sec�etary BY tlpp o by A9avor: t ` �AN S 1979 Appro y Mayor for Sub iss' to Council By _ B s pu6llSHED ,�AN 1 3 197� t� °�1N E�O>, � � � ���� . . � � � �� G� A1. �.� THE MINNESOTA MUTUAL LIFE INSURANCE COMPANY 345 Cedar Street, Saint P¢ul, Mia�zesota 55101 • Telephone 298-3500 Are¢ 612 August 30, 1978 The Honorable Mayor Latimer and City Council Members c/o Rose Mix, City Clerk City of St. Paul St. Paul, Minnesota 55102 POLICY N0. 365379-G The City of St. Paul provides a plan of optional life insurance under this policy which is paid for by its employees if they elect to participate in the program. Effective January 1, 1979, Minnesota Mutual will be pleased to renew this program at the present monthly rates: Age Rate Per $1,000 Under 30 $ .20 30-39 .30 40-49 .60 50-54 1.10 55-59 1.60 60-64 2.40 The Minnesota Mutual appreciates the opportunity to serve the City of St. Paul and its employees by providing this insurance program for them. My staff and I also thank the City officials and employees for the cooperation that e've received in administering this insurance program. Si er y, D hans , irec or Group dmi ist ation DWJ:kb „ , ,, -.. � . . . . � < . .. � , , , . � . .. , ,. � , . _ R., � ' �� :a �F. t.. � ' . J . �, ' , . � - . . i 1� . � . . . .. . . . . .. ` ,. � .y . : - , � . 'r �/ , �.. . . ., .. � , . . � . � .' . . . ,.” . , . ... .. . . _ .� . .. � . . .� . . .� .. .. . ; �� . .. .. . : �� , . , ' ' �.. � ... ' . �' . . , . . . .. �, .. � . .� . . .. . .. �.y _ , ..� . .. `. . , : . . . ,: ' „ . '.. 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