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      'Mae `ollow in  premiurm estimaats are based on bhe data furnished to TTLAA

 by UniversLty of Kentucky on April 17, 1967, and assume participation by all

 eligi-ble employees.  Tae precise first-year rates will be calculated when

 the plan is installed and will be based on the actual enrollment.  If the

 composition of the enrolled group should differ as to age, sex, salary, etc.

 from the composition of the group upon which this estimate was based, the

 first-year rates will, of course, reflect the change in risk.

      In determining the estimated rates, it was necessary to exclude forty-

six (46) employees who will have attained age 64+ as of the effective date

of this plan, since they would not be eligible for benefits.

     Also, it was assumed that:

     1. For the purpose of determining insurance ages, the effective
         date of this plan will be September 1, 1967.

     2. There is no other plan offered through the University which
         provides total disability income benefits to an employee after
         he has been disabled for six months.

     3. A11 employees who will become eligIble to participate in the
         TMA-CREP retirement plan on September 1, 1967, or who are
         now participating in the .TIAA-CUF plan were covered under
         the Waiver Benefit.

     4. The TIAA-CREF annuity premiums for all persons participating
         in the University's retirement plan equal 15% of salary.

     5.  The plan will be on self-accounting administration.

Any change in these assumptions may serve to increase or decrease the rates.

     The estimated averaged monthly premium rates are as follows:

         vor Monthly income Bar-efit        $.50 per $100 oi: Monthly Bianfits

         For Monthly Waiver Benefit         $.66 per $100 of Monthly Benefits

     With 100% enrollment of the eligible employees, the estimated total

monthly premium for thce gr-u would. be: