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| January 28, 2021 City Council Regular Meeting | |
| Title 19. Authorize the City Manager to Execute a Contract Renewal for Long-Term Disability Insurance Services with the Standard Insurance Company in the Amount of $ 226,146 (Event No. 8224) | |
| Strategic Priority Good Government | |
| Description Recommend approval to renew an annual contract for long-term disability coverage with The Standard Insurance Company in the amount of $226,146. The contract will provide group long-term disability insurance coverage to eligible active employees. The coverage is City-funded for the fully insured group long-term disability insurance. This renewal provides a reduced premium of 17.2% for full-time equivalent workers who work 20 or more hours per week. The renewal also provides for a rate guarantee through July 1, 2022. S.S. The Standard Insurance Company (Portland, OR)(D) $226,146 (D) Indicates a non-local, non-DBE owned business. | |
| Recommendation Approval | |
| Contact Jeff Grant, Director of Human Resources | |
| Financial Impact Expenditure of $226,146 from the Risk Management Fund | |
| Review Comments | |
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Attachments Exhibit 1: Purchasing Summary - Long Term Disability.pdf Exhibit 2: Funding Verification - Long Term Disability.pdf |
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