Explanation
BACKGROUND: As a result of a Request For Proposal process in accordance with Section 329.14 of the Columbus City Codes, six life insurance bid responses were reviewed by the City's Evaluation Committee, comprised of five members.
Each proposal was evaluated on the following criteria as requested by section 329.14: competency to perform, quality and feasibility of the offerors technical proposal, ability to perform the required service competently, past performance, and the cost structure of the proposal. Standard Insurance is recommended as the life insurance plan administrator. Standard Insurance quoted a fully insured three year guaranteed rate of $.160 per $1,000 volume, effective until January 31, 200 renewable annually. Standard Insurance offers the ability to duplicate negotiated benefits.
Contract Compliance number: 93-0242990
To maintain insurance programs in accordance with the negotiated labor contracts, additional funding of the life insurance program is necessary to insure continuation of employee insurance coverage. Cost estimates were based on 2003-04 trust fund expenditures using a three year average of actual city utilization, expected changes due to union negotiations, as well as input from insurance carriers.
Title
To authorize the Human Resources Director to enter into a contract with Standard Insurance to provide all eligible employees life insurance coverage from February 1, 2005, through January 31, 2006, and to authorize the expenditure of $949,520.00 from the Employee Benefits Fund, or so much thereof as may be necessary to pay the costs of said contract; and to declare an emergency. ($949,520.00)
Body
WHEREAS, it is in the best interest of the City of Columbus to enter into a contract with Standard Insurance to provide all eligible employees life insurance from February 1, 2005 through January 31, 2006; and
WHEREAS, it is necessary to authorize the expenditure of up to $949,520.00, or so much thereof as may be necessary to pay contract costs for life insurance services; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is necessary to enter into a contract and to pay the associated contract costs to ensure continued coverage for eligible employees and for the preservation of the public health, peace, property, safety and welfare;
Now, Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Human Resources Director is hereby authorized to enter into a contract with Standard Insurance to provide life insurance to all eligible employees from February 1, 2005 through January 31, 2006.
SECTION 2. That the expenditure of up to $949,520.00, or so much thereof as may be necessary for coverage from the Employee Benefits Fund 502, Human Resources Department 46-01, Character 03, Minor Object 3362, Index No 461000, Project 203 is hereby authorized and directed.
SECTION 3. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage, if the Mayor neither approves nor vetoes the same.