Loading...
HomeMy WebLinkAboutBPW 12-06-17-14 Temporary Suspension of Employee Health Insurance ContributionsPremium Holiday 2017 RESOLUTION BPW 12-06-17-14 A RESOLUTION TEMPORARILY SUSPENDING EMPLOYER AND EMPLOYEE HEALTH INSURANCE CONTRIBUTIONS WHEREAS, the City Medical Escrow Fund (the "Fund"), as established by Ordinance D-1048 on February 21, 1994, currently has a balance in excess of $3.5 million; and WHEREAS, the current balance, when combined with anticipated revenue for 2018, exceeds what is necessary to pay anticipated claims and administrative expenses for the foreseeable future; and WHEREAS, it is not in the best interests of the City or its employees to keep in the Fund a reserve greater than what is reasonably required. NOW, THEREFORE, BE IT RESOLVED by the Carmel Board of Public Works and Safety as follows: Effective December 1, 2017, to December 31, 2017, health insurance contributions will not be collected from active employees or retirees who are Plan participants, or from the City of Carmel. Contributions will resume January 1, 2018. [remainder of page left intentionally blank] Premium Holiday 2017 CITY OF CARMEL, INDIANA By and through its Board of Public Works and Safety fqo�orcwm- James Brainard, Presiding Officer Date: NA4 /Z Z:L'k Mary'Au&,B / r Member Date: / � (� l Lori (Watsof, $oard Member Date:v A' �Cl