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Establishing a Non-Reverting Self-Funded Employee Benefit Fund
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Establishing a Non-Reverting Self-Funded Employee Benefit Fund
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5/1/2013 9:35:33 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
1/24/1983
Ord-Res Number
7161-83
Bill Number
5-83
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Joseph E. Kernan <br />Director, Administration and <br />Finance <br />CITY ®f SOUTH BEND <br />ROGER O. PARENT, Mayor <br />COUNTY-CITY BUILDING SOUTH BEND, INDIANA 46601 <br />January 4, 1983 <br />Members of the Common Council <br />4th Floor <br />County -City Building <br />South Bend, IN 46601 <br />Dear Council Members: <br />219/284 -9742 <br />This Bill would establish a "Self- Funded Employee Benefit Fund" <br />to be used in conjunction with the City's Health Benefit Program <br />for its employees. <br />On the advice of Corporate Policy Holders, our independent <br />professional insurance advisers, the City of South Bend will begin <br />a self - funded employee health benefit program effective in February <br />of this year. Overall savings for the City will result because of <br />numerous advantages to this program: claims will be based directly <br />on experience, cash flow will be improved, retentions will not be <br />paid to an insurance carrier, and the City will earn the interest <br />from invested funds. The establishment of this new Fund is a <br />necessary step in setting up this program. <br />If you have any questions, please contact Sherrie Petz or myself. <br />Thank you very much for your consideration. <br />Sincerely, <br />"Joseph E. Kernan <br />JEK:elc <br />
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