265387 WHI7E - CITY CLERK
PINK - FINANCE CO1111C11 .�.n�7
CANqRV - DEPARTMENT �J�Devlin GITY OF SAINT PAIIL � File NO. ����� /
BLUE -MAVOR �
�� � -�,� ou cil Resolution
Presented By ♦
Referred To Committee: Date
Out of Committee By ' Date
,
,
WHEREAS, The biinnesota Mutual Life Insurance Compar�y insures the lives of
the dependents of employees of the City of Saint Paul under their Policy No. 2881-G
and,
WHgtEAS, T�e Minnesota Mutual Life Insurance Compar�y by a letter dated
March 12, 1975, 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 amount of $17,235.66 and,
WHEREAS, The Minnesota Mutual Life Insurance Company in said letter makes a
recommendation concu�red by the City's Health and Welfaxe Insurance Advisory Cormnittee
that the City Counci�L authorize by resolution that this amount be paid proportionately
to those persons under said group who were premium paying insureds on December 31, 1974
and who had been continuously insured for six months prior to December 31, 19'7�+, said
proportion to be approximately 19.5�0 of the annual premium paid by said eligible
employee; now, therefore
BE IT RESOI,VID, The Minneso�a Mutual Life Insurance Company is hereby authorized
to distribute to suc� eligible employees a dividend representing, l9.��O of the premium
paid; and �
BE IT FINALLY RESOLVID, That the City Clerk be directed to prepare a certified
copy of this resolution and deliver the same to the Minnesota Mutual Life Insurance
Company as soon as cpnveniently possible.
I
i�
COUIVCILMEIV Requested by Department of:
Yeas Nays
Christensen (
Hozza I� �'O In Favor
Levine
Roeet2�r Q Against By
��
Tedesco
President Hunt
Adopted by Council: Date A� 2 � �� Form Ap rove by i orney
Certifie sse by Council Secretary BY .
Y
Appro by Ma or: r � �� _ Approved b is i n
�.
By By
� MiAY 3 f97�
i
. . • � `��Eso
� � : �; � '� �65�8`7 �
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THE MfNNESOTA MUTUAL LiFE INSURANCE COMPANY
34S C.edar Street, Saint Pau1, Minnesota SS101 • Telephone 298-3500 Area 61� � -
March.12,. 19�5 _ � . ,
Mr. John Aaider
Chief Examiner & Director of Personnel _
City of St. Pau� - �
' City Hall .
St. Paul, Minne ota 55102 . �
CITY OF ST. PAUL - . . . � .
DEPENDENTS LIFE'' INSURANCE PLAN � .
POLICY N0. 2881 G : . -
Dear Mr. Haider: • .
The dividend on this plan for the January l, 1974 to January 1, 1975 policy year
is $16,044. Th premium paid for the policy year was $89,301. Incurred claims
are $61,OOQ, an a list3.ng of these claims is encZosed.
A conversion c rge of $60 per $1,000 of insurance is charged for dependents who .
convert their 3nsurance to individual policies issued by Minnesota Mutual. In �
the policy year 5 dependents converted a total of $13,000 of insurance, and the
conversion char�e is $78Q. A Iist of the policy year' conversions is enclosed. .
The following t ble shows the total dividends available for distribution on
Jan.uary 1, 1975 . `
Balance at interest January 1, 1974 $ 1,124.21.
Interest .to January l, 1975 at 6% 67.45 �
Divid€nd earned January 1, 1975 16,044.00
Tofial dividend January l, 1975 $17,235.66
We recommend that these dividends be paid in cash to those employees who were
insured on December 31, 1974 and who were also insured on July l, 1974. The
dividend w�ould be a percentage of ea.ch e13.gible e�ployee's annual premium.
� .
�65�`�8'7 �
Mr. John Haider
Chief Examiner Director of Personnel
Cit af St. Pa� - 2
Y
March 12, 1975
�.
We are in the �ocess o£ determinin fihe exact ercenta e cash dividend to be
P, g P 8
paid. This percentage wi11 be about 20Z, and we should be able to give you
the exact figur s soon.
- Mr. Aaider, ple se let me lmow if this recoimnendation is satisfactory to the
City.
Sincerely,
- a,,� • � " ,
es E. Johnso
Associate Actua� . .
y
. �:� � . � � . �
- r�i�. � • . � .
� .
. �
. . . . . , . ...
.. . . � � � � . � . ` - . ' . . . . .
� � ��5�8`7
CLAIMS REPORT �
POLICY N0. 2881-G DEPENDENTS :
1-1-74 TO 1-1-75
r
DEATH :
Name Date of Death Amount
Carr, Thomas 04-15-74 ' $ 3,000.00
Crea, Mary ' 09-2i-74 _ . . . . 3,000.00
Muellner, Lorraine 09-03-74 1,000.00
Btruck, Eugene R. 12-04 74 - 3,000.00 .
Warthen, Roy E., Jr. 01-27-74 3,000.00 ,
Steiner, Marie T. 12-25-74 3,000.00
Besky, Nick J. 03-31-74 3,000.00
Conger, �lizabeth 07-06-74 3,000.00
� Eggen, Trueda M. � 07-08-74 1,000.00
King, Robert � 07-30-74 � � 3,000.00
Leier, Arline K. OS-23-74 3,000.00
Gorz, Steven J. • 08-04-74 3,000.00
Braun, Lucille H. . 09-13-74 - 1,000.00
Coakley, James J. . 06-28-74 " 3,000.00
Durand, Dennis 08-25-74 3,:000.00
Germain, Janine R. 11-09-74 1,000.00
Moser, Henrietta M. 04-10-74 3,000.00 .�
Neveaux, Curtis 08-15-74 3,000.00'
Hesse, Lloyd C. Q8-15-74 . 1,000.00
0'Neill, Michael P. 01-15-74 ' • 1,000.00 •
Mell, Milton � 09-05-74 3,000.00
Pederaon, Lowell S. O1-30-74 . 1,000.00
Miller, Albert H. � 02-26-74 3,000.00
Harrelson, Herbert E. 08-01-74 3,000.00
Toman, George E. . 11-04-73 . ' 2,000.00
Kearney, Thomas , 06-16-74 2,000.00
Total . $62,000.00
� AD�D
Jaeger, Alma 09-15-70 �-1,000.00
7bta1 $-1,000.00
� Grand Total $61,000.00
., ,
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:�. . ., _ . , . �
��5��'�
-z-
CONVERSION REPORT �
�
- Name Effective Date Amount
Lacey, Grace M. � IO-Ol-74 $ 2,000.00
Lund, Gladys I. 10-01-74 2,000.00 .
� Bliss, Madeline R. ' - 05-01-74 _ 3,000.00
Rqan, Marion F. � 02-01-74 3,000.00
Kamfenski, Paul W. 03-03-74 . ' 3,000.00
$13,000.00
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