15552 1 RESOLUTION NO. 15,552
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A CONTRACT WITH LINCOLN FINANCIAL, IN AN AMOUNT
5 NOT TO EXCEED SEVEN HUNDRED FIFTY THOUSAND DOLLARS
6 ($750,000.00), FOR GROUP LIFE, GROUP AD&D AND LONG-TERM
7 DISABILITY INSURANCE FOR CITY EMPLOYEES AND THEIR
8 DEPENDENTS, FOR A TWELVE (12)-MONTH PERIOD EFFECTIVE
9 JANUARY 1,2022; AND FOR OTHER PURPOSES.
10
11 WHEREAS,the City provides certain Life, AD&D and Long-Term Disability Insurance benefits for
12 its employees,and after a competitive selection process it was determined that the most qualified applicant
13 with the best overall rate to provide such insurance for the current City employees is Lincoln Financial;
14 and,
15 WHEREAS,the basic cost of such coverage to the City will not exceed Seven Hundred Fifty Thousand
16 Dollars($750,000.00)for 2022; and,
17 WHEREAS,the contract may be extended six(6)additional years,beginning January 1,2023.
18 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK,ARKANSAS:
20 Section 1.The City Manager is authorized to enter into an agreement with Lincoln Financial for Group
21 Life,AD&D and Long-Term Disability Insurance for the period of January 1,2022,to December 31,2022,
22 for an amount not to exceed Seven Hundred Fifty Thousand Dollars($750,000.00).
23 Section 2.Funds for this agreement will be available from a line item for Group Health Care Insurance
24 in the 2022 Budget.
25 Section 3. Pursuant to approval by the City, this contract may be extended six (6) times for six (6)
26 additional years beginning January 1,2023, in accordance with the renewal clause in the agreement.
27 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
29 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
31 resolution.
32 Section 5. Repealer.All laws, ordinances, resolutions,or parts of the same,that are inconsistent with
33 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
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1 ADOPTED: October 19,2021
2 APPROVED:
3 ,
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4 4 1. --U
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5 Susa _1� ity Clerk Frank Scott,Jr.,M o
6 APP' a : WO LEGAL FORM:
7
8 , 4 Ilitatd144 . J , `.a.l..J
9 Thomas M. Carpenter, ity Att, i ney
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