HomeMy WebLinkAboutMO #2351MUNICIPAL ORDER NO. 2351
A MUNICIPAL ORDER APPROVING AND ADOPTING THE GROUP LIFE
INSURANCE BENEFITS PROPOSAL WITH ANTHEM LIFE INSURANCE COMPANY IN
A TOTAL ANNUAL GROUP PREMIUM AMOUNT OF $44,367.36 FOR EMPLOYEES OF
THE CITY OF PADUCAH, AND AUTHORIZING THE MAYOR TO EXECUTE ALL
DOCUMENTS RELATED TO SAME
BE IT ORDERED BY THE BOARD OF COMMISSIONERS OF THE CITY OF
PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah approves and adopts the following group
life insurance premiums for employees of the City of Paducah:
Basic Coverage I Number of Lives Monthly Rate Volume
Basic Group Term Life 310 $0.87 per $1000 $4,209,000.00
Monthly Premium
$3,661.83
D&D 130 $0.02 per $1000 1 $1,772,500.00
$35.45
Total Monthly Group Premium
$3,697.28
Total Annual Group Premium
$44,367.36
SECTION 2. That the Mayor is hereby authorized and directed to execute the
Group Life Benefits Proposal with Anthem Life Insurance Company and all other documents
related to same.
SECTION 3. That the premiums for the Group Life Insurance Benefit Plan, for
employees of the City of Paducah, adopted in Section 1 above, shall become effective July 1,
2020.
SECTION 4. This expenditure will be charged to various accounts.
SECTION 5. This order shall be in full force and effect from and after the date of
its adoption.
Brandi Harless, Mayo
ATTEST:
-Eifi'dsay Parish, City�1erk
Adopted by the Board of Commissioners, June 24, 2020
Recorded by Lindsay Parish, City Clerk, June 24, 2020
\mo\Group Life Insurance Anthem 2020