To the Members of the Fraternal Order of Police Lodge # 108
On May 2, 2012 an emergency Board meeting was called to order with FOP and FOPA Board members present to discuss the financial situation of the lodge and sudden increase of insurance rates, both property insurance and life insurance.
At this time the Board reviewed the present insurance cost per member. Unfortunately expenses have risen to outpace current incoming dues. For this reason, the Board has voted to eliminate providing life insurance as a membership benefit instead of raising dues for all. The Board has elected to offer life insurance under the group rate policy to FOP and FOPA members with the cost of the insurance being paid by the member.
The goals and plans which were presented by both the Board and members are ambitious and will need added revenue to bring into reality. Accordingly the Board has decided that this will go into effect on June 1, 2012. The membership dues will remain at $15.00/month.
FOP members wishing to have $15,000 of life insurance (plus the AD&D Indemnity) will pay an additional $157.50 a year. FOPA members wishing to have $7,500 of life insurance will pay an additional $58.56 a year. (June 2012-June 2013) (Yearly premium due prior to June 1, 2012).
We are hoping this does not greatly affect our membership and that everyone will continue to be a loyal member of the Fraternal Order of Police. If there are any questions, or concerns regarding this increase, please let one of the Board members know.
Fraternally,
John Couey
President