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CC PACKET 05241988
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CC PACKET 05241988
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Last modified
12/30/2015 4:29:59 PM
Creation date
12/30/2015 4:29:42 PM
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SP Box #
18
SP Folder Name
CC PACKETS 1987-1989
SP Name
CC PACKET 05241988
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League of Minnesota Cities Insurance Trust <br /> Croup Self-Insured Workers' Compensation Plan <br /> ADMINISTRATOR <br /> EMPLOYEE BENEFIT ADMINISTRATION CO. <br /> 8441 Wayzata Blvd. Suite 200 Minneapolis. Minnesota 55426-1392 Phone (612) 544-0311 • <br /> Notice of Premium Refund Option <br /> At the end of each year (January 1) of the League of Minnesota Cities <br /> Insurance Trust Self-Insured Workers ' Compensation Program a <br /> distribution of excess surplus funds , if any, will be returned to <br /> participants under a formula taking into account the earnings and <br /> claims experience of the Trust , as well as the loss records of <br /> individual participants. As an alternative, participating cities with <br /> a discounted standard premium in excess of $50 ,000 may elect to have <br /> their distribution made to them in an amount determined by their <br /> individual loss experience . The final net cost to an electing <br /> participant will be as follows : <br /> Discounted standard premium x 35% plus losses x 1 .10 equals minimum <br /> final net cost . Maximum final net cost will not exceed standard <br /> premium x 1 .20 . <br /> Please return a signed copy of this notice to the administrator with <br /> your application for coverage. If this election is made the final net <br /> cost of your workers ' compensation insurance for the coming policy <br /> year, based on estimated payroll , would be between a minimum of <br /> $ 24, 133 and a maximum of $ 90,797 depending upon your <br /> losses . Adjustments will be made six months after the close of your <br /> policy year and annually thereafter. <br /> If this election is not made you will share in the <br /> distribution of surplus funds. <br /> Yes, we wish to select the Alternative Refund Option . <br /> Policy Period : <br /> Name of City St. Anthony 6-1-88 to 6-1-89 <br /> By: <br /> Title: <br /> Date: <br /> This election cannot be accepted unless received in the offices of <br /> the plan administrator by the beginning of your policy period. <br /> Sell-Funded Insurance Specialists <br /> EBA 450(10/87) <br />
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