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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />AUGUST 18, 2008 <br />TITLE: <br />EMPLOYEE GROUP INSURANCE <br />RENEWALS <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 15t Reading <br />^ Ordinance on 2id Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Attorney to prepare and authorize the City Manager and <br />Clerk of the Council to execute agreements for long term disability, <br />medical, dental, vision, employee assistance and supplemental employee <br />group life and accidental death & dismemberment insurance. <br />DISCUSSION <br />The City's employee group benefit policies, contracts and agreements are <br />renewed annually on January 1. Currently we provide life and accidental <br />death & dismemberment (AD&D) coverage and long term disability (LTD) <br />insurance through AIG Life Insurance Company for full-time employees. We <br />are currently in the second year of a two year rate guarantee for our <br />life insurance agreement with AIG. AIG has agreed to a rate pass on the <br />current LTD and AD&D insurance plan rates through December 31, 2009. <br />Life Insurance <br />Insurance Current Insurance Percent Change <br />Coverage Insurance Rate Renewal Rate <br /> <br />Life Insurance $0.15 per $1000 $0.15 per $1000 O.Oo <br />Accidental Death $0.03 per $1000 $0.03 per $1000 O.Oo <br />& Dismemberment <br />25K-1 <br />