HomeMy WebLinkAboutBPW-10-19-05-01 Suspend Ins Pre RESOLUTION BPW 10-19-05-01
A RESOLUTION TEMPORARILY SUSPENDING EMPLOYER AND EMPLOYEE
ItEALTH INSURANCE PREM1UM PAYMENTS
WHER_EAS, the City Medical Escrow Fund ("Fund"), as established by
Ordinance. D-1048 on February 21, 1994, currently has a balance in excess of $2.5
million; and
WHEREAS, with all income sources taken into account, the Fund balance
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 Carm&l Board of Pnblic Works
and Safety as Follows:
Effective October 1, 2005, to December 31, 2005, health insurance premiums will not be
collected from Plan participants who are active or retired employees, or from the City of
Carmel. Premium payments will resume as scheduled on January 1,2006.
CITY OF CAI'CMEL, INDIANA
By and throngh its Board of Public Works and Safety
g o m
roes Brainard, Presidin cer
Y ~~
Lori Wats~gmi~d Member
Date
Date
C--/l~iana Cordray, IAMC, Clk~-Treasurer Date