Laserfiche WebLink
TO: Mayor and City Council <br /> FROM: Ron Moorse, City Administrator Y/i <br /> DATE: November 19 , 1992 <br /> SUBJECT: 1993 Wage and Insurance Adjustments <br /> Based on the information provided below, it is recommended the <br /> Council approve a 2.75% general pay adjustment. It is <br /> also recommended that the maximum City contribution for health <br /> insurance coverage be increased $20.00 per month from $251.00 per <br /> month in 1992 to $271.00 per month in 1993. <br /> The proposed 1993 wage and insurance adjustments are based on the <br /> following criteria: <br /> A. Wage Adjustment Criteria <br /> 1 . Cost of living increase <br /> a. ) US consumer price index: annualized increase <br /> from October ' 91 to October ' 92 is 3. 1%. <br /> b. ) Minneapolis/St. Paul consumer price index : <br /> annualized increase from the first half of <br /> 1991 to the first half of 1992 (July '91 to <br /> July ' 92) is 3. 1%. <br /> 2. Market comparison <br /> a. ) A survey of comparable cities indicates <br /> increases for 1993 in the range of 2. 5%-3 . 0%. <br /> B. Insurance Contribution Adjustment Criteria <br /> 1 . 1993 insurance premium increases (family <br /> coverage) <br /> 1992 1993 Dollar Percent <br /> Plan Premium Premium Difference Difference <br /> Group Health $356. 76 $397. 48 $40. 72 11 . 4% <br /> PHP/Medica $399. 50 $430. 92 $31 . 42 7. 9% <br /> Med Centers $389. 35 $437. 25 $47. 90 12. 3% <br /> A) The average premium increase is $40. 01 per month. <br /> B) 50% of the average increase amount is $20. 00 per month. <br /> STAFF RECOMMENDATION <br /> The initial budget estimate for general salary increases was 3%. <br /> The insurance contribution increase was estimated at $20.00 per <br />