The District will establish an insurance committee to include one representative from Division 1, two representatives from Division 2, and 6 representatives (from at least two bargaining units) from Division 3. Each division will appoint their own representatives from within their membership. Additionally, a representative of the District’s policy underwriter, the District’s Business Manager, the Superintendent or designee, and a School Board member shall be on the committee in an advisory role, but will not have voting privileges.
The Committee will meet following the renewal release to set insurance rates for the year. Additionally, the committee will meet at least quarterly to review and alter insurance rates, review the status of the reserve fund, and to review the District’s insurance program. The committee will also have the ability to make recommendations to the District in all matters regarding employee insurance benefits.
When the reserve account is greater than $400,000 the committee shall have the power to utilize reserve funds in any of the following ways:
(a) offset increasing insurance costs
(b) reduce the employees’ monthly payroll deductions for insurance
(c) increase employees’ insurance benefits
In the event the reserve fund drops below $400,000, the committee’s discretion to utilize reserve funds will be transferred to the District until the reserve fund balance is in excess of $500,000. In the event that the reserve fund discretion is transferred to the District, the Committee may make recommendations to administration in regards to employees’ insurance benefits but their recommendations shall be advisory only and shall not bind the District.
The District will establish administrative regulations and office procedures governing the District’s insurance program, employee insurance benefits, and reserve fund management.
KETCHIKAN GATEWAY BOROUGH SCHOOL DISTRICT
Adoption Date: 7/23/08