Thursday, June 6, 2013

Other Insurance, Retirement, workers comp, health insurance, unemployment

Other insurance passes
O'Connell: early retirement incentive: how many people did that?
Petty asks if the numbers have to be there forever
Allen being paid back over
Workers Comp
Foley: talked about at our Finance meeting
"this is an account that we have traditionally dabbled in...also traditionally underbudgeted"
$952,300 "pretty aggressive number"
would support recommendation
O'Connell: have our settlements put us in a place where people will be collecting less now?
Allen: no
people were not necessarily collecting at the time that we settled
"In no year in the last five years have we spent anything less than $1.2 million"
O'Connell: inclined to leave with administration
Health insurance:
O'Connell: anything from city to adjust rates?
Allen: calculated : now under by $100,000
O'Connell: any suggestions?
Allen: to resolve in first quarter report
Biancheria: grant funded employees have their health insurance also grant funded
O'Connell: are we assuming a number?
Allen: 29-30 week basis; if you look annually, need $100,000
teachers returning, long-term subs need this
32 tutors eligible..
"full exposure is greater than the amount budgeted here" (by about $500,000)
O'Connell: hope that in the upturn in the economy could get employment
Allen: usually use health insurance savings to cover unemployment costs; cannot happen with tutors (as they don't get health insurance

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