Additional Benefits Offered

Other voluntary benefits offered to FT, eligible employees

Basic Life Insurance

Based on annual salary, rounded to the next higher $1,000.  No premium due; paid by the City.

Group Term Life Certificate

Optional Term Life Insurance (Basic Life Buy up) - Minnesota Life

Available at 1X (provided), 2X, 3X, 4X or 5X (electives) base annual compensation, at a maximum of $500,000.  Premium rate is automatically adjusted by age. One-time Basic Life Insurance is provided by the City.

Employe Age Premium per $1,000
Under 30 $0.17
30 - 34 $0.21
35 - 39 $0.26
40 - 44 $0.38
45 - 49 $0.62
50 - 54 $1.01
55 - 59 $1.51
60 - 64 $2.39
65 - 69 $3.79
70 + $7.72

Coverage Options - Life Insurance at Work by Securian, Issued by Minnesota Life Insurance Company

Dependent Life Insurance - Minnesota Life

Availalbe at $7,500 for spouse/domestic partner; $5,000 for each dependent child. Bi-weekly premium, $.0.63.

Optional (Buy up) Dependent Life Insurance - Minnesota Life

Available at $10,000 for spouse/domestic partner; $5,000 for eaach dependent child. Bi-weekly premium, $2.92.

Accidental Death and Dismemberment Insurance (AD&D) - Minnesota Life

Amount of coverage based on annual basic compensation; premium based on annual basic compensation. Premiums are automatically adjusted as annual basic compensation may change.

Annual Base Compensation Principal Sum Premium Employee Only Premium Family
Under $10,000 $20,000 $0.26 $0.36
$10,000 to $15,000 $40,000 $0.52 $0.72
$15,000 to $20,000 $80,000 $1.04 $1.44
$20,000 to $40,000 $100,000 $1.30 $1.80
$40,000 + $150,000 $1.95 $2.70

Long-Term Disability Insurance (LTD) - The Hartford

The City provides a core benefit at no cost to the employee.  The core benefit is 50% of earnings to a maximum benefit of $2,000 per month. No premium due.

Employees have the option for buy-up coverage. The basis for the buy-up coverage is the annual basic compensation.

LTD Coverage Certificate

Long-Term Disability Buy Up - The Hartford

The buy-up benefit is an additional 10% over the core benefit, both benefits totaling to 60% of earnings. The maximum benefit for the buy up is $5,000 per month.

 

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