00-P-032 Optional Group Life Insurance Rate Changes (Supersedes Informational Circular 99-P-030)
Posted on October 21, 2021 at 12:50 PM by Kansas Department of Administration
| DATE: | June 19, 2000 | ||
| SUBJECT: | Optional Group Life Insurance Rate Changes | ||
| EFFECTIVE DATE: | Pay Period Beginning June 25, 2000 | ||
| CONTACT: | Roger Basinger | (785) 296-5387 | (roger.basinger@da.state.ks.us) |
| APPROVAL: |  | ||
| SUMMARY: | Optional Group Life Insurance Rate Changes | ||
Please be advised that effective with the payroll period beginning June 25, 2000 and ending July 8, 2000, paid July 21, 2000, the Optional Group Life Insurance rates are changing as follows:
Attained Age | Monthly Premium per $1,000 |
|---|---|
| Under 30 | $0.07 |
| 30-34 | $0.09 |
| 35-39 | $0.11 |
| 40-44 | $0.16 |
| 45-49 | $0.23 |
| 50-54 | $0.39 |
| 55-59 | $0.58 |
| 60-64 | $0.84 |
| 65-69 | $1.38 |
| 70-74 | $2.23 |
| 75 and above | $3.76 |
An administrative fee of $0.20 per month will continue to be added to the premium each month. Maximum coverage available will remain at $200,000.00.
Age is based on the employee's attained age during the payroll period. Optional Group Life Insurance deductions will continue to be taken from the second biweekly paycheck of the month.
Board of Regents' Institutions operating under the Regents' Payroll system are responsible for implementing the new rates and for updating age groups and premium deduction amounts in their Payroll Systems effective with deductions made for the pay period beginning June 25, 2000 and ending July 8, 2000.
DB:JJM:rdb
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