HomeMy WebLinkAbout11-07-18-02/A Resolution Setting Temporarily Suspending Employee and Employer Medical and Dental Insurance Contributionsle Premium Holiday 2018
RESOLUTION BPW 11-07-18-02
A RESOLUTION TEMPORARILY SUSPENDING EMPLOYEE AND EMPLOYER
MEDICAL AND DENTAL INSURANCE CONTRIBUTIONS
WHEREAS, the City of Carmel Medical Escrow Fund (the "Fund"), as
established by Ordinance D-1048 on February 21, 1994, currently has a balance in excess
of $4.5 million; and
WHEREAS, the current balance, when combined with anticipated revenue for
2019, 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 November 1, 2018, to December 31, 2018, medical and dental 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, 2019.
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Premium Holiday 2018
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
J r inard, Presiding Officer
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Date: /4/—L�
ATTEST:
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1 Christine Pauley, Clerk -Tr asurer
Date: 11 , 17 J1 r