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BOOK 108 FAGE78D <br />TO: James Chandler <br />County Administrator <br />, <br />FROM: Ro �.� er <br />Personnel Director <br />DATE: March 12, 1999 <br />SUBJECT: Increase of Group Life Insurance Age Limit <br />Staff requests consideration of the following information at the March 23, 1999, regular meeting of <br />the Board of County Commissioners. <br />Background <br />The County's current group life insurance contract with Trans -General Life Insurance Company <br />contains a provision that reduces the amount of life insurance in force at age 70 by 50%. This <br />provision violates current County policy, specifically AM -105, Employer -Employee Relationship, and <br />several employees are adversely affected by it. However, since we only have a few employees who <br />are 75 years of age or older, increasing the age limit to 75 will provide the County with adequate time <br />to notify the majority of the employees of this change in their life insurance benefit prior to their <br />turning age 75. <br />By increasing the age from 70 to 75, the County will incur an additional cost of $.01/$1,000 per <br />month, total annual cost of $4,761.48, on the basic life insurance only. Trans -General Life will <br />guarantee this new basic life rate until October 1, 2000. <br />Recommendation <br />Staff requests Board approval to increase the group life insurance age limit from 70 to 75. <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Stanbridge, the Board unanimously approved the <br />increase of the age limit from 70 to 75 in the group life <br />insurance, as recommended in the Memorandum. <br />11.F.2. ADMINISTRATIVE POLICY MANUAL - STIPULATION <br />ADDED TO SECTION AM -105 <br />The Board reviewed a Memorandum of March 12, 1999: <br />MARCH 23, 1999 <br />46 <br />• • <br />