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Facts About The Illinois League of Financial Institutions Trust
To view a Plan Savings Chart for Group Insurance Trust
products,
click here.
The Illinois League of Financial Institutions Trust has
sponsored a group insurance program for over 50 years as a service
to members and their employees. A formal Trust Agreement was adopted
in 1967 and has since been amended to meet all the requirements of
the Employee Retirement Income Security Act of 1974 (ERISA). The
Trust is a separate legal entity and the policyholder for the
various group insurance policies offered to all League members. The
Trust enjoys a tax-exempt status under Section 501 (c)(9) of the
Internal Revenue Code. Some important facts about the group
insurance programs available through the Trust include:
 | The Trust is a not-for-profit entity, existing solely for the
purpose of affording League members a source for purchasing
quality and competitive group insurance products and
services. |
| The Trust offers all members, large and small, the buying
power of a multi-million dollar program. This means lower
overhead expenses, more plan flexibility, expanded
administrative services and personal assistance from our
consultants and actuaries at no extra cost to members. |
| The Trust's policies and products are all fully insured by one
of the nation's top carriers, Principal Life Insurance
Company. |
| Principal Life also provides consulting and administrative
services to all
participants with excellent and timely claim administration and
handles all COBRA and HIPAA administration for participating
member institutions. |
| The Trust offers a complete portfolio of products and
services. Programs are continuously reviewed to provide the most
up-to-date products, cost management techniques, funding
alternatives and administrative efficiencies. |
| Principal representatives are available to answer questions
and/or visit your institution to provide personal assistance at
any time. (Representatives are available to assist with plan
design, price alternative plans, help with employee meetings,
meet with your Board of Directors, etc.) If you have
questions or need assistance, please contact Bob Penwell at
penwell.bob@principal.com. |
| Principal's claim administration services are timely and
accurate. Over 90% of all claims will be handled within ten
working days and processed with 99% accuracy. |
The Plan Administrator of the Trust is:
Jay R. Stevenson
133 South 4th Street, Suite 206
Springfield, IL 62701
The Trustees of the Plan are:
Dane H. Cleven,
Chairman
Community Savings Bank
4801
West Belmont Avenue
Chicago, IL 60641
Ralph
C. Carstensen, Vice Chairman
Hoyne
Savings Bank
4786
Milwaukee Avenue
Chicago, IL 60630
Kenneth
B. Elmore
The
First National Bank of Litchfield
324
North State Street
Litchfield, IL 62056
Robert
Farmer
The
First National Bank of Beardstown
300
Washington Street
Beardstown, IL 62618
Stanley
Jenks
Security Savings Bank
220
East Broadway, P.O. Box 800
Monmouth, IL 61462
Kathleen E. Marinangel
McHenry
Savings Bank
353
Bank Drive, P.O. Box 566
McHenry, IL 60051
Alan D.
Martin
Iroquois Federal Savings & Loan Association
201
East Cherry Street, P.O. Box 190
Watseka, IL 60970
C. Steven Sjogren
Ben
Franklin Bank of Illinois
14
North Dryden Place
Arlington Heights, IL 60004
For more information regarding the group insurance program, call
800-237-1936 or e-mail jstevenson@ilfi.org.
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Mark your calendar
for the League's 129th annual
convention
September 10-14, 2008
Pointe Hilton
Tapatio Cliffs Resort
Phoenix, AZ |
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