Page 26 - January 16, 2025 Bulletin

ND Banks Benefit Trust

Working to Keep You

Informed

The NDBBT Board of Trustees, working with
the Financial Strategy Team at Brown & Brown,
approved the utilization of our reserve fund to buy
down the health premiums increase for the 2025
plan year.
The board approved the use of $445,195 from the reserve fund to lower the overall increase
for all Trust members by 2.2%. This lowered the annual premium increase from 7.1% down to
4.9% for 2025. This still leaves the Trust in a very strong financial position with reserve funding
available for the Incurred But Not Recorded (IBNR) claims and any unexpected increases in the
health plan funding outside of the budget.

In 2024, the NDBBT began offering the CALM App (sleep, meditation and relaxation) and HINGE
Health (on-line physical therapy) to our Member Bank employees at no cost.

The Trust appreciates your membership as we continue to provide our members with best-in-
class coverage at affordable rates.

Thank you NDBBT

Trustees

The NDBBT would like to thank Rick Beall Jr.,CEO,
Peoples State Bank of Velva, Nancy Petersen, SVP
Human Resources, Cornerstone Bank, and Carrie
Zubke, CHRO, Bravera Holdings Company for their
service on the NDBBT Board of Trustees. Their
time and dedication over the last ten years plus
has been paramount in the growth and success of
the NDBBT.

Nancy Petersen served as the NDBBT Vice
Chairman from 8/1/2014 to 12/31/2019, and
Chairman from 1/1/2020 to 12/31/2021.

Rick Beall Jr. served on the Investment Committee
from its inception to 12/31/2024.

Carrie Zubke served on many review committees
throughout her service. Rick Beall Jr., Nancy Petersen and Carrie Zubke

THANK YOU! YOU WILL BE MISSED!

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