HomeMy WebLinkAboutRes 19-59 05/19/1959
':;;, ,.~~
~I,t'ii!'4'
.' .-.
.
(v
~~
~
\
RESOLUTION
A Resolution Creating a Group Hospitalization
and Life Insurance Plan for Emplo;rees of the
Village of Hount Prospect
BE IT RSSOLVED by the President ;md board of trustees of the
Village of r::cnmt Prospect, Illinois
Section 1. It is 11ereby determined and declared that the
p'\.1blic interest of the Village of Hount Prospect If Jill be best served
b~T the Village. of llOUJ1t Prospect eranting its employees an increase
in compensation in the form of partial contributions of perm:Lum pay-
ments of grol~ hospital, surgical, major medical and life insurance.
Section 2. It is further determined that employees participation
in the insurance pro[,Tam shal1 be on ;) voluntary basis. Only those
employees of ) , Vi11aee of 11011n t Prospect 14ho request the insurance
I)rlC
benefits and 1'ITho contribute to the payment of premiums as hereinafter
set forth shall be entitled to the increase of compensation hereinafter
set forth.
Section 3. The Village l!;'anager is hereb;)T aut.horized on behalf of
the Village of Ilount Prospect and it.s employees ,,1ho volnntaril;r subscribe
to said insurance program to ent.er into contracts of insurance 1-1ith
Connecticnt General Life Insurance COTiipany of Hartford., Connect-tcut.
effective as soon as possible in accordance 1r!ith t.he terms and conditions
of application 16718 and more particulaTly set forth in the policies
of insurance to be iSi31led therelmder, vih5.c'h policies shall be kept on
file in the Village Clerk's Office of the Village of Mount Prospect,
Illinois.
Section h. It is contemplated that the Village of llIount Prospect
Hill pay approximately hw-tllirds mdthe individual employee approximately
one-third of the annual prew.ium payments for saiel insurance. The Village
lTanager is hereby authorized to make the mathematical computation of
premium payments of the subscribing employees in accordance with the rate
schedules contained in the above described policies of insurance cl.l1cl
the rate of pay of the said subscribing employees is hereby increased,
effective on the effective date of 8;:15.6 policies, in accordanee '\\lith the
VIllage }Tanager' 8 computation of the Village of Mount Prospect's proportionate
share of said premium payments.
RES OL1JT I ON (continued)
Page 2
Section 5. The Village Hanager is hereby aut.horized t.o make
pa~rroll deductions from the participat.ing employees' pay in accordance
\"iith bis computations.
Section 6.
New employees and employees who subsequent to the
passing of this ordinance desire to participate in the insurance program
shall be eligible to participate. Upon incU.cating their desire to
participate to the Village l~arlager, he shall include said employees
in the program in accordance uith the terms of the above described
~
policies of insura'1ce and trn s O! allier ee
......, " .~~
A~~/reJ1~
A~ l~ 19.]1.
Approved: