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2020 014 RESOLUTION
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2020 014 RESOLUTION
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Last modified
3/2/2023 12:33:00 PM
Creation date
3/1/2023 3:02:08 PM
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Legislation-Meeting Minutes
Document Type
Resolution
Number
2020-014
Date
2/18/2020
Year
2020
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C% <br />This illustration is intended to outline the basic plan and is not intended to describe the contract provision. Each employee will receive a plan booklet which will outline in detail <br />the plan provisions and limitations. Should there be a discrepancy between this outline and the plan document the plan document prevails. <br />*Volumes based on renewal <br />2 <br />��x.�-�. ,. � �.� _ate.. �,�, �-�,;.��_ .� .� e .v���� �;-� . � �,���� ,� �.� , , �.F^�, ....,-- ��.. • .� , - , <br />- Current <br />RevisedMetLife <br />MetLife - <br />000 Option <br />Life/AD&D Benefit <br />$20,000 <br />$20,000 <br />$50,000 <br />Waiver of Premium <br />Included <br />Included <br />Included <br />Conversion <br />Included <br />Included <br />Included <br />Benefit Reductions at <br />Age 65 <br />35% <br />35% <br />35% <br />Age 70 <br />50% <br />50% <br />50% <br />Age 75 <br />N/A <br />N/A <br />N/A <br />Age 80 <br />N/A <br />N/A <br />N/A <br />d Rate Guarantee <br />12 Months <br />12 Months <br />12 Months <br />H <br />�-4 <br />Current <br />Renewal Volume <br />Revised Renewal Volume <br />Revised Rates Volume <br />x Rates Per $1,000 <br />X <br />W Life <br />$0.259 <br />$0.269 $1,386,000 <br />$0.259 $1,386,000 <br />$0.259 $3,380,000 <br />AD&D <br />$0.038 <br />$0.040 $1,386,000 <br />$0.038 $1,386,000 <br />$0.038 $3,380,000 <br />Monthly Premium <br />$412 <br />$428 <br />$412 <br />$1,004 <br />Annual Premium <br />$4,940 <br />$5,139 <br />$4,940 <br />$12,046 <br />$ +/- Current <br />$200 <br />$0.00 <br />$7,107 <br />4.0% <br />0.0% <br />143.9% <br />%+/- Current <br />This illustration is intended to outline the basic plan and is not intended to describe the contract provision. Each employee will receive a plan booklet which will outline in detail <br />the plan provisions and limitations. Should there be a discrepancy between this outline and the plan document the plan document prevails. <br />*Volumes based on renewal <br />2 <br />��x.�-�. ,. � �.� _ate.. �,�, �-�,;.��_ .� .� e .v���� �;-� . � �,���� ,� �.� , , �.F^�, ....,-- ��.. • .� , - , <br />
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