248117 ' 248�1'�
� OR161NAL TO CITY CL[RK -
• CITY OF ST. PAUL FOENCIL NO
OFFICE OF THE CITY CLERK
C U IL R OLUTION—GENERAL FORM �
PRFSENTED BY
COMMISSIONE DATF
WHEREAS, The Minnesota Mutual Li.fe Insurance Company,
by letter dated March 13, 1970, a copy of which is hereto attached
and incorporated herein by reference, pertaining to the City employe••
pay dependents� group life insurance, policg No. 2881-G, with said
Company, has indicated that the experience under the aforesaid
employe..pay group life coverage has resulted in a dividend account
balance in the amount of $18, 048. 1 g; a.nd
WHEREAS, The Minnesota Mutual Life Insurance Company in
said letter makes a recommendation, concurred in by the City�'s Health
and Welfare and Insurance Committee, that the City Council authorize
by resolution that a portion of the aforesaid dividends be left on deposit
with The Minnesota Mutual Life Insurance Company to draw interest '
during the period from January 1, 1970 through December 31, 1970,
a.nd that a portion thereof equal to 45 per cent of the annual premium
paid by each eligible employee during the past policy year, in the
approximate amount of $16,200. 00, be paid to those persons under
sa.id group who were premium..paying insureds on December 31, 1969
and who had been continuously insured for six months prior to
__. December 31, 1969; now, therefore, be it
RESOLVED, That effective as of January 1, 1970, the a.foresaid
45 per cent of the premiuxns paid by each such insured described �-
a£oresaid, during the period from January 1, 1969 to December 31,
1969, the total amount of all such refunds to eligible City employees
being in the approximate amount of $16, 200. 00, be paid to those
employees described in the preceding paragraph of this Resolution,
such distribution to be made by The Minnesota Mutual Life Insurance
Gompany as soon as conveniently possible; and be it
FINALLY RESOLVED,, That the City Clerk be and he is hereby
directed to prepare a certified copy of this Resolution and deliver the
same to The Mi.nnesota Mutua.l Life Insurance Company as soon as
conveniently possible.
I�IAR 31 1'70
COUNCILMEN Adopted by the Couuci� 19—
Yeas Naya [1AAR 3 1 19��
Carlson
D��� A prove —19—_
AZeredith �� Favor
Peterson �
sprafka U Mayor
Tedesco Against �-UKM qF'PROVED
Mr. Preaident, Byrne
Ass� Cotporation Couns
'�t]BLISHED APR 41970 �
- � � 2`�8��`�
THE MINNESOTA MUTUAL LIFE INSURANCE COf1�PA1�Y
tT. ►AUL. MINN[SOTA _'_-----_._--.""'
� cc: Pir. John Devlin
City of St. Paul
St. Paul, Minnesota
Wendell Phillips 6-286
J. F., Eberspacher 6-296
Alice Johnson 6-246
Ptarch 13, 1970
?fr. t�illi�m E. Carlson, Commissioner
C1ir�irnan, 1!cnith & Welfare Com�ittae
Citp of St. Paul
St. Pnul� *tinnesota
t�ROUI' LIFT: PUI.I(:Y IdQ. 2a8I-G
CITY OF ST. PAL'L
D�P�ti�I::iTS LIF� ZNSI3ItAATCI: PLAN
��
bear tlr. Carl�ons
The dividend under this plan far tha policy year .7anuarq l, 19b9 to January I�
1970 ia 512,432. Z'he premium paid f�r this reriod was $3G,Q27. A list of the
claims p�:id, $1�,0�0� is attached.
In addition to paid cla3.ms, our claim char�;�s include an egcess mortality charge
for ineurance covera�;e that has been converted to i�adividual policies issued by
our Companq. This char�e is $60.40 per $2,000 of in�nxance converted and during
the pASL year thera was one conversion at $].,04q for $GO.dQ.
The followin� table wi12 aummas�ze t}�a diyidends dispersed as af J�nuary 1� 1969
end the dividends availuble for distribution on Janunry 1, 1970.
Dividends Availnbla January l, 1969 $22.,"R9.32
Dividcnds Paid January 1� I9G9 I7,f14.913
Dividends at Interest Jsnua,rq I, 1969 5,37k.34
Interest to 3anuary 1� I970 at 4��X 2�►2.$S
Diviclend Farnc�d J'aauary l, 1970 12,[E32�t�p
____�__.__..�
Total bividend Januarq 1� 1974 1$,OG$,1�
Tde rctcommend that a dividend equa2 to 4Sro of eacY� eligibl� er���oyee�s annuaZ
dePendent premium be paid. The total of these dividends woulcl be aPproxi.mnteZy
SI6,2�0. Thia would Ieave approximately $1,843 to be held at interest for distri-
bution 3n future qears.
It is �I.� �pgestio e cash d �ai ta _ empioyees
who ar insured o Dec .ber 31, 1. 9 snd �rho were a ,a i ur. 0 3 �y 1, 2969.
Pleas Ie � no if he e suf; ,e� ions & e atis ac ory th Ci .
Since cl
. ',:, . i
John oos A � r,an er
i872 R�r.Li��uP � BeA�
V
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'cz•rY or sr. i>,�ur. - »rrr,r;n���ls
roi��y r,�. �F;i-c
DJsAT�i CLAI:iS
.
:;1r.,e Date of Deat11 Amount
I)�vici Ju 1.-11—G9 $ 1,000
Cenevi eve ;�:oyna�h 3-15-69 ].,000
Carl Ostrom 3-07-69 1,000
Ina '•;c`�11nn 3-ll-69 1,000 .
�ii 7�s ?'.ubbard 5-07-69 1,000
' I:sther Rocl; ' 7-].3-69 1,000 �
tdillis rtarsh 7-19-69 1,000
Uonna J. l;erdue 8-09-69 1,000
tiarry Tt. 1'ott}iof f 8-14-69 1,000
��.Dorothy l:in;strom 9-14-69 1,000
Frances `I. Johnson 9-29-69 1,000
Richard 1�uberL•y � 10-23-69 1,000
Char]_es J, hussell 11-01-69 1,000
Joanne RenCeria � 11-17.-69 1,000
13arbara Lang 11-06-69 1,000
Elmer C. Adams 12-04-69 _ 1,000
Total $1b,000
AD&D CLAIPIS .
Ina ;Ic��tann 3-17-69 $ 1,000
Barbara T.ang 11-06-69 1,000
Total , $ 2,000
TOTAL CLAI:IS $18,000
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N�rCh 31, 1q70
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Minnesota Mutual Life IrjB. Co., i��--�,�
3�5 Ced�ar St.� �'f " �
St. Pa.ul, Minn. ,�`'� ` ;,��� �
Gentlemen: �' `�
The Cit�r Co�aa�'�.. � y �. ted me to serid ta
you the �ttached cer��`ied co f a oluti�n No. 248117,
adopted tocl�.y, A?a.rc 31st. 1970 erta in� to the City
emploY��PaY ��P�� .�s' groap li insuranee, Policy No.
2881-G, with yo�r Cp�pany, and � the distribution of
dividends as de�cri� therei�
f __.,.....-.,.. �"',..,,...._-- .
! —'-' ____ _
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;` ' � Very truly youra,
6 :; �.
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� ��' 'P `� City C1erk
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