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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A">Forwarded on behalf of PEBB:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#44546A"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#44546A"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">Good evening,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">PEBB would like to inform payrolls that a .0005 rate buy-down on Short-term Disability (STD) premiums did not occur in 2014 as intended. Standard set the STD rate at .0069.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">The rate should have been paid as follows: .0064 paid by the member and .0005 to be drawn from a Trust Account held by The Standard which retains funds to stabilize or
“buy-down” premium rate increases for PEBB Members. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">Unfortunately the .0005 buy-down did not occur at the appropriate time. Therefore, effective immediately (3/1/15), that portion (.0005) of the premium total will now be
paid out of the premium deposit account held by Standard leaving the employee rate at .0064 for the remainder of 2015.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">The PDA Account has been funded over many years by PEBB Members. As a dedicated Trust Account there are very specific purposes you may expend funds on. Therefore rather
than issue $2-$3 refunds on average, the PDA account will supplement the STD premiums as it was created to do for a longer period of time. We apologize for this error and look forward to providing reduced cost STD coverage to members for the foreseeable future.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">Regards,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">Ali Hassoun, Director of Operations<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">Public Employees’ Benefit Board<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">1225 Ferry St SE Ste B<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">Salem OR 97301<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">PH: 503-378-2798<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Trebuchet MS",sans-serif">FX: 503-378-6388</span><span style="font-family:"Trebuchet MS",sans-serif;color:#44546A"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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