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2002-08-12 CC Worksession
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2002-08-12 CC Worksession
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<br /> <br />City of CenterviIle <br />City Council Meeting <br />August 14, 2002 <br /> <br />To: <br /> <br />Ms. Kim Moore-Sykes , <br />Honorable Mayor and Members of the City Council <br /> <br />From: <br /> <br />Ellen Panlseth, Finance Director <br /> <br />Re: <br /> <br />Cafeteria Pllln Update <br /> <br />Stanton Group <br />Attached is a proposal from Stanton Group for the administration of a cafeteria plan for <br />the city of Centerville. We received this proposal after payroll staff met with Yvorme <br />Johnson, Senior Benefits Analyst with Stanton Group. Also attached is an alternative <br />proposal for administration of a flexible spending account. Keep in mind that a flexible <br />spending account would not accommodate the situation we have with deferred <br />compensation. Only a cafeteria plan would accomplish that. <br /> <br />Fees <br />As noted in the attached proposal, the one-time fee for setting up the program would not <br />exceed $2,275. This amount could be reduced if the City produced its own employee <br />booklets. The on-going fee for administration of the flexible spending component of the <br />cafeteria plan would be $ I 50 per month. <br /> <br />Benefit Decisions <br />In order to set up the cafeteria plan for the effective date of January I, 2003, the council <br />would need to make the following decisions before enrollment time in October of this <br />year: <br />I. The contribution amount for employees with dependent coverage. <br />2. The contribution amount for employees with single coverage. <br />3. The contribution amount for those who waive coverage. <br />4. The addition of voluntary benefits: <br />a. Long-term disability, <br />b. Supplemental and dependent life, <br />c. Long-term care. <br />
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