STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: December 9, 2020
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Elizabeth Reich
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SUBJECT
Title
Authorize a three-year service contract and policy, with two one-year renewal options, to provide City paid basic life insurance - Standard Insurance Company, most advantageous proposer of four - Not to exceed $2,368,737 - Financing: Employee Health Benefits Fund (subject to annual appropriations)
Body
BACKGROUND
This action does not encumber funds; the purpose of a service contract is to establish firm pricing for services, for a specific term, which are ordered on an as needed basis.
This service contract and policy will provide group basic term life insurance for all active City employees. The City currently offers $75,000 basic life insurance coverage to full-time employees at no cost to the employee. Full-time employees can voluntarily purchase additional group (supplemental) life coverage up to three times their annual base salary not to exceed $500,000, as well as dependent life and accidental death and dismemberment coverage via payroll deduction.
A six-member committee from the following departments reviewed and evaluated the qualifications:
* Department of Human Resources (2)
* Office of Budget (1)
* Office of Risk Management (1)
* Office of Economic Development Business Workforce and Inclusion Division (1)*
* Office of Procurement Services (1)*
*The Office of Procurement Services only evaluated the cost and the Office of Economic Development Business Workforce and Inclusion Division only evaluated the Business Inclusion and Development Policy.
The committee selected the successful respondent on the basis of demonstrated competence and qualifications under the following criteria:
* Overall approach and methodology 30 points
* Cost ...
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