HomeMy WebLinkAboutBPW-11-03-04-01 Susp. Premiums RESOLUTION BPW 11-03-04-01
A RESOLUTION TEMPORARILY SUSPENDING EMPLOYER AND EMPLOYEE
HEALTH INSURANCE PREMIUM PAYMENTS
WHEREAS, the City Medical Escrow Fund ("Fund"), as established by
Ordinance D-1048 on February 21, 1994, currently has a balance in excess of $1.5
million; and
WHEREAS, with all income sources taken into account, the Fund balance
exceeds what is necessary to pay all 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 for all pay dates that fall between November 1, 2004, and December 31, 2004,
health insurance premiums will not be collected from Plan participants or from the City
of Carmel. Premium payments will resume with the first pay in 2005.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
~/inard, Pre si Si ng Officer
Lori ~~d Member
~ ~ Clerk
~,/Diana Cordray, IAMC, ~_/e/r~-Zreasurer Date
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