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r <br />WC <br />Members of the Board <br />of County Commissioners <br />FROM: Joseph A. Baird <br />OMB Director <br />BOOK 98 PAGE 71 <br />BUDGET AMENDMENT: 018 <br />DATE: May 8. 1996 <br />Entry <br />Number <br />Funds/Department/Account Name <br />Account Number <br />Increase <br />Decrease <br />1 <br />REVENUE <br />General Fund/Recreation/Special Event <br />001-108-572-041.11 <br />$5,000 <br />$0 <br />General Fund/Reserve for Contingency <br />001-199-581-099.91 <br />$0 <br />$5,000 <br />PREMIUM CONVERSION PLAN - CHANGE TO FISCAL YEAR <br />The Board reviewed a Memorandum of May 3, 1996: <br />TO: James E. Chandler <br />County Administrator <br />FROM: Rori aker <br />Director of Personnel <br />SUBJECT: CHANGE OF "PLAN YEAR" ON PREMIUM CONVERSION PLAN <br />DATE: May 3, 1996 <br />BACKGROUND AND ANALYSIS <br />The county's group health insurance plan is set up on a fiscal <br />year, therefore any changes in the plan would be effective October <br />1. However, the "Plan Year" on the Premium Conversion Plan was set <br />up on calendar year basis and any changes in benefit elections an <br />employee makes would be effective January 1. This has caused an <br />administrative burden on staff. <br />The staff requested Siver Insurance Consultants to review and <br />determine if the Board could change the "Plan Year" on our Premium <br />Conversion Plan. This question was referred to a benefits attorney <br />and his opinion was the Board could amend the County's current <br />Premium Conversion Plan from calendar to fiscal year. <br />This can be accomplished by an Amendment to Indian River Board of <br />County Commissioners Premium Conversion Plan and Resolution. <br />Attached are the necessary documents. <br />RECOMMENDATION <br />The staff recommends to change "Plan Year" to coincide with the <br />County's fiscal year and to have these documents executed by <br />Board's Chairman. <br />66 <br />May 14, 1996 <br />