AGENDA CAPTION:
Title
Consider approval of Resolution 2024-242R, approving a contract extension with Minnesota Life Insurance Company, and Madison National Life Insurance Company, through OCHS, Inc., for Basic Term Life, Voluntary Life, AD&D, and Long-Term Disability Insurance Administration, for an estimated annual amount of $176,000.00; authorizing the City Manager, or her designee, to execute the appropriate documents to implement the extension on behalf of the city; and declaring an effective date.
Body
Meeting date: December 3, 2024
Department: Human Resources Department - Linda Spacek, Director
Amount & Source of Funding
Funds Required: $176,000 estimated annual amount
Account Number: Multiple Sources
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Fiscal Note:
Prior Council Action: Res 2018-121R, approval of original contract
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Background Information:
The City approved a contract for Basic Term Life and AD&D, Voluntary Life and AD&D, and Long-Term Disability Administration following a competitive sealed proposal process. The contract is with OCHS, Inc., located in St. Paul, Minnesota, A Securian Company, underwritten by Minnesota Life Insurance Company, and Madison National Life Insurance Company and includes the City's Long-Term Disability Insurance for emplo...
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