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SUNNYISLES <br />Not Included <br />same <br />1703779 <br />City of Sunny Isles Beach <br />same <br />Long -Term Disability (LTD) Benefits & Cost Summary <br />Wroposed <br />MANDATORY <br />Survivor Income Benefit <br />Effective Date: <br />October 01, 2001 <br />Option 1.00 <br />Class 1: <br />Executives /All Other Active Full -time Employees <br />SCHEDULE of BENEFITS <br />PREMIER Plan <br />VALUE Plan <br />Benefit Percentage <br />60% <br />same <br />Maximum Monthly Benefit <br />$10,000 <br />same <br />- Social Security Integration <br />Primary & Family <br />same <br />- Minimum Monthly Benefit <br />$100 <br />same <br />Elimination Period <br />90 Days <br />same <br />- Accumulation of Elimination Period <br />2X Elimination Period <br />same <br />Maximum Benefit Period <br />65 /SSNRA <br />same <br />Pre - existing Condition Exclusion <br />3/12 <br />same <br />Specified Illness/ Injury Limits <br />- Mental /Nervous & Substance Abuse <br />24 Months <br />same <br />- Other Limits (see 24 Mo. Ben. Limits) <br />Not Applicable <br />24 MONTHS <br />Premium Contributions <br />Non - Contributory <br />same <br />Minimum Participation <br />100% <br />same <br />DEFINITION OF DISABILITY <br />*Own Occupation Coverage Period <br />To Age 65/24 Months <br />same <br />Following Own Occupation Period <br />Any Occupation <br />ANY GAINFUL OCCUPATION <br />Zero Day Residual <br />Included <br />same <br />weturn to Work Incentive <br />SSNRA <br />same <br />rtial Disability Formula <br />Residual w/ Progressive <br />same <br />- Income Test first 24 Months <br />99% <br />same <br />- Income Test after 24 Months <br />85% <br />60% <br />ADDITIONAL FEATURES <br />Progressive Income Benefit <br />Not Included <br />same <br />Reasonable Accommodation <br />Included <br />same <br />Vocational Rehabilitation <br />Voluntary <br />MANDATORY <br />Survivor Income Benefit <br />3 Months <br />same <br />Subrogation / Third Party Reimburs. <br />Not Applicable <br />INCLUDED <br />Conversion Option <br />Not Included <br />same <br />Prior Insurance Credit <br />Included <br />same <br />PLAN ASSUMPTIONS & COST <br />Number of Covered Employees <br />100 <br />same <br />Monthly Covered Payroll <br />$412,220 <br />$412,220 <br />Rate, as a Percent of Payroll <br />.48% <br />.41% <br />MONTHLY PREMIUM <br />$1,978.66 <br />$1,690.10 <br />Rate Guarantee <br />Two Years <br />same <br />The proposed rates for this LTD plan may be reduced by 5% if a Short Term Disability plan is purchased with <br />the LTD coverage or is currently inforce with Jefferson Pilot Financial for the employees to be covered by the <br />•proposed plan. <br />Jefferson Pilot Financial Insurance Company <br />T1 .49 T2.42 11 <br />11/02/01 <br />