HomeMy WebLinkAboutMO #2398MUNICIPAL ORDER NO. 2398
A MUNICIPAL ORDER APPROVING AND ADOPTING THE GROUP LIFE
INSURANCE BENEFITS PROPOSAL WITH MUTUAL OF OMAHA IN A TOTAL
ANNUAL GROUP PREMIUM AMOUNT OF $44,453.40 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:
COST SUMMARY
Employee Term Life
Employee ADBD
Total
Num6arofLlvea .Total. Monthly
Volume
Monthly Rate
TMan"7�al
Premium
Annual
Pramlum.
438 1 54,622;500
I S0.78M1.000
1 $3.605.55
543,266.50
136 1 54,945.000
I S0.0251.000
I $98.90
$1.986.60
E3,704A5
1 544,463,40
SECTION 2. That the City of Paducah hereby accepts and approves the Group
Insurance Proposal with Mutual of Omaha Insurance Company dated September 16, 2020, for
Basic Term Life and AD&D, Voluntary Term Life and AD&D, Preferred Choice Voluntary
Short -Term Disability and Voluntary Long -Term Disability for the employees of the City of
Paducah and authorizes the Mayor to execute all documents related to same.
SECTION 3. That the premiums for the Group Life Insurance Plan, for
employees of the City of Paducah, adopted in Section 1 & 2 above, shall become effective
- January 1, 2021.
its adoption.
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
Brandi Harless, Mayor
ATTEST:
say Parish, Ci lerk
Adopted by the Board of Commissioners, October 13, 2020
Recorded by Lindsay Parish, City Clerk, October 13, 2020
\mo\Group Life Insurance Mutual of Omaha 2021