Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Pre-Litigation Settlement
Docket No.: n/a
Claimant: Various City Employees - see attached
Claimant's Attorney: n/a
Attorney's Address: n/a
Settlement Amount: $43,141.13
Funding Source: Insurance Trust Fund
Additional Comments:
Invitation: Corporation Counsel, February 15, 2017
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WHEREAS, approximately 185 City of Newark Employees who selected additional insurance with Fort Dearborn Life Insurance had premium deductions taken out of their bi-weekly pay between January 1, 2016 to June 30, 2016; and
WHEREAS, Fort Dearborn cancelled the City of Newark Employees' policies during this time period; and
WHEREAS, a proposal has been made to refund the City of Newark Employees affected by said cancellation the amount of deductions that was taken out of their bi-weekly pay during this time period to resolve this matter without the need for formal litigation by payment in the total amount of $43,141.13 (Forty Three Thousand, One Hundred Forty One Dollars and Thirteen Cents); and
WHEREAS, the Corporation Counsel based upon all facts and circumstances deems it in the best interest of the City of Newark to resolve said matter by payment of the proposed Settlement.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Corporation Counsel is hereby authorized on behalf of the City of Newark to accept the terms of this pre-suit Settlement Proposal.
2. Upon receipt by the Corporation Counsel of all documents deemed necessary, the Director of Finance is hereby authorized and directed to issue a refund to the 185 City of Newark Employees affected by the cancellation of their policies for a total amount of $43,141.13 (Forty Three Thousand, One Hundred and Forty One Dollars and Thirteen Cents), which payment shall be made payable to each individual City of Newark employee as se...
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