DATE: May 8, 2019
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Kristine Brock, Assistant City Administrator / CFO
Kevin Townsel, Human Resources Director
Sara Sylvis, Risk and Benefits Manager
Brian Wilcox, Purchasing Manager
SUBJECT:
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Procurement Agreement with Symetra Life Insurance Co. of Enfield, Connecticut for voluntary group term life insurance with accidental death & dismemberment benefits and voluntary short-term disability insurance (Purchasing Office Procurement Solicitation No. 2018-015; Contract No. 2018-0082)
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Purpose
The purpose of this procurement is to select for optional purchase by eligible employees voluntary group term life insurance with accidental death & dismemberment benefits and voluntary short-term disability insurance, benefits that may be purchased at the employee’s sole expense at designated opportunities, for a three-year term of award, with two (2) one-year options to extend the term of award, for a maximum possible term of award of five (5) years total.
Background
The Board of Mayor and Aldermen voted on May 8, 2018 to award to Symetra Life Insurance Co. of Enfield, Connecticut for optional purchase by eligible employees voluntary group term life insurance with accidental death & dismemberment benefits and voluntary short-term disability insurance for a term of award.
Financial Impact
As previously reported, premiums for voluntary benefits are deducted from employee payroll and thus are not budgeted. Therefore, this procurement has no direct financial impact on the City.
Attachment
Pursuant to authority previously granted by the Board of Mayor and Aldermen, Contract No. 2018-0082 with Symetra Life Insurance Co. of Enfield, Connecticut for voluntary group term benefits has now been executed in full and is attached.