HomeMy WebLinkAbout05-03-2013 EMPLOYMENT BENEFIT TRUST
CITY OF CALDWELL EMPLOYEE BENEFIT PLAN TRUSTEE MEETING HELD ON MAY 3, 2013 The meeting was called to order at 9:09 a.m. Those in attendance: Monica Jones, Eljay Waite, and Mary-Kaye
Stewart DISCUSSION ITEM(S): • As of March 31, 2013, trial balance and bank balance is $575,007. Reported revenues were $1,363,471 and reported expenses were $1,407,524. The reported
IBNR from Moreton & Co. was $225,501. The reported surplus was $349,047. Financial reports were reconciled and balanced. • Monica reported that the health screenings and health risk
assessments have been completed. There were 146 employees that participated (this does not include firefighters) and 51 employees that did not participate. Dawna at West Valley expects
the aggregate report to be ready by next week; however, this report will not include numbers for the firefighters. • Eljay and Monica reviewed the three proposals that were submitted
for broker services. Two of the proposals are being considered: Moreton & Co. and Mercer. Eljay and Monica met with Lois Morris from Mercer to ask her questions about her proposal. Lois
will put together a presentation for Eljay and Monica in order to further evaluate her proposal. Monica reported that Nate Marshall has resigned from Moreton & Co. MOVED by Monica, SECONDED
by Eljay to adjourn at 9:35 a.m. Our next meeting is scheduled for July 23, 2013 at 9:00 a.m. Those voting yes: Unanimous. MOTION CARRIED SCANNED
BALANCE SHEET AsofMarch.31,2013 Assets Total Assets Liabilities Cash Receivables(Cobra reftind) Accounts Payable 575,007 575,007 459 Surplus Total Liabilities Claims IBNR 225,501 349,047
575,007 INCOME STATEMENT October 1,2012 -March 31,2013 Revenues Plan Contributions Miscellaneous Total Revenues Expenses Claims Paid Plan Charges Total Expenses Revenues over expenses
1,337,989 25,482 1,363,471 1,082,215 325,309 1,407,524 (44,053)
Payroll Check Date 10/12/12 10/23/12 11/9/12 11/23/12 12/7/12 12/21/12 1st QTR Totals 1/4/13 1/18/13 2/1/13 2/15/13 3/1/13 3/15/13 3/29/13 2nd QTR Totals 4/12/13 4/26/13 5/10/13 5/24/13
6/7/13 6/21/13 3rd QTR Totals 7/5/13 7/19/13 B/2/13 8/16/13 8/30/13 9/13/13 9/27/13 4th QTR Totals Grand Total Employee $7,886.64 $7,858.26 $7,761.59 $7,840.24 $7,724.49 $7,724.49 $7,927.37
$7,827.29 $8,045.01 $7,909.02 $8,030.6S $7,899.38 $0.00 $8,068.84 $8,066.72 Employer $102,94751 $102,994.86 $101,648.01 $102,673.83 $101,19730 $101,161.86 $103,953.29 $102,593.50 $105,544.99
$104,981.24 $107,164.90 $105,664.60 $0.00 $106,698.36 $106,662.92 Total $110,834.55 $110,853.12 $109,409.60 $110,514.07 $108,921.79 $108,886.35 $659,419.48 5111,880.66 5110,420.79 $114,590.00
$112,890.26 $11S,19S.SS $113,563.98 $0.00 $678,541.24 $114,767.20 $114,729.64 $0.00 $0.00 $0.00 $0.00 $1,337,960.72 $1,337,960.72 $28.38 $1,337,989.10 Total $110,834.55 $221,687.67 $331,097.27
$441,611.34 $55033313 $659,419.48 $111,880.66 $222,301.45 $336,891.45 $$449,781.71 $564,977.26 S678,541.24 $678,541.24 $114,767.20 $229,496.84 $229,496.84 $229/496.34 $229,496.84 $229,496.84
Reg Cobra Refund $4,058.16 $3,823.79 $7,881.95 $4,397.56 $4,058.16 $4,859.77 $13,315.49 $4,058.06 $4,058.06 $25,25530 RX Rebate $0.00 $4,284.51 S4,284.51 $0.00 $4,284.51 Premiums Paid
By Employee $2838 $28-38 $0.00 $0.00 $28.38 Reserve Balance Transfer $0.00 $0.00 $0.00 $0.00 Total of Revenues $667,329.81 $696,141.24 $4,058.06 $1,367,529.11 G/L Revenues Difference
Gil Correction S