There was a group life insurance surplus as of December 2021.  The committees responsible for negotiating changes to the pension and insurance plans have agreed on how to use that surplus.  

The changes are:

1. Contribution rates for the Group Life Plan decrease from $0.1059 to $0.0920 per $1,000 of insurance, bi-weekly. 
2. Cost sharing for employees under the Group Life Plan on Class 1-4 changes from 27.5% employer funded to 30% employer funded. This means employees contribute $0.0644 and employers contribute $0.0276 per $1,000 of insurance.
3. Paid up insurance under the Group Life Plan increases from $6,000 to $8,000.
4. There are no pre-retirement coverage reductions under the Group Life Plan up to age 75. On an employee’s 75^th birthdate coverage becomes the paid-up amount of $8,000. Insurance previously reduced on an employee’s 65^th and 70^th birthdays.

CSSB materials are being updated to reflect these changes.