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[62] > Image [62] of Minutes of the University of Kentucky Board of Trustees, 1967-09-sep19.

Part of Minutes of the University of Kentucky Board of Trustees

Premium Billing In order to simplify tha administration of the plan TIAA establishes a reamiumr nor -employe for the Monthly Income Benefit and a renmi-m ner ermloyee lor the Monthly Waiver Benefit. Based on the number of employees and the nonthly premium shown on.pages 5 and 5a, the przmimns per amplovee would be as folLows: Number of Estimated Monthly Monthly Premium I Employees - Premium Per Employee Income Benefit $3,156.65 1,069 $2.95 Waiver Benefit $1,077.96 1,039 $1.04 Each month the institution will be billed on the basis of the number of employees then insured for each benefit times the premium per employee for that benefit. Tha premium pdr employee will normally remain the same for twelve months at a time regardless of salary changes that may occur during the year.