AGENDA CAPTION:
Title
Consider approval of Resolution 2018-121R, approving contracts through Ochs, Inc. with Minnesota Life Insurance Company, and Madison National Life Insurance Company for Basic Term Life, Voluntary Life, AD&D, and Long Term Disability Administration (RFP 218-172), for an estimated annual amount of $90,000.00 with expected growth each year for city employee pool growth in an amount not to exceed $567,130.00; authorizing the City Manager or his designee to execute the appropriate documents on behalf of the City; and declaring an effective date.
Body
Meeting date: August 7, 2018
Department: Human Resources Department - Linda Spacek, Director (By Lynda Williams, Purchasing Manager)
Amount & Source of Funding
Funds Required: estimated $90,000 the first year with an estimated total cost of $567,130 over a five (5) year term.
Account Number: 50065 Object Code for all Departments
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Fiscal Note:
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Background Information:
On May 30, 2018, the City received nine (9) proposals for Basic Term Life and AD&D, Voluntary Life and AD&D, and Long Term Disability Administration (RFP 218-172). An evaluation committee of City staff reviewed, evaluated, and scored the proposals accord...
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