HomeMy WebLinkAbout16107 1 RESOLUTION NO. 16,107
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A CONTRACT WITH SYMETRA INSURANCE, IN AN AMOUNT
5 NOT TO EXCEED SEVEN HUNDRED FIFTY THOUSAND DOLLARS
6 ($750,000.00), TO PROVIDE GROUP LIFE, GROUP AD&D AND LONG-
7 TERM DISABILITY INSURANCE FOR THE PERIOD BEGINNING
8 JANUARY 1, 2024, TO DECEMBER 31, 2024; AND FOR OTHER
9 PURPOSES.
10
11 WHEREAS,the City offers Group Life, Group AD&D and Long-Term Disability Insurance for City
12 employees and their dependents;and,
13 WHEREAS,Resolution No. 15,777(September 6,2022)authorized a contract with Lincoln Financial;
14 to provide Life,AD&D and Long-Term Disability Insurance;however,the 2024 renewal presented the City
15 with a 15%rate increase forcing the City to market the coverage;and,
16 WHEREAS,the basic cost for Group Life,Group AD&D and Long-Term Disability Insurance is not
17 to exceed Seven Hundred Fifty Thousand Dollars ($750,000.00) for 2024, for City employees and their
18 dependents;and,
19 WHEREAS,the contract term is for one(1)-year, with an option to extend six(6) additional one (1)-
20 year terms.
21 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
22 OF LITTLE ROCK,ARKANSAS:
23 Section 1.The City Manager is authorized to enter into an agreement with Symetra Insurance to provide
24 Group Life, Group AD&D and Long-Term Disability Insurance for the period of January 1, 2024, to
25 December 31,2024,for an amount not to exceed Seven Hundred Fifty Thousand Dollars($750,000.00).
26 Section 2. Funds for this agreement will be available from a line item for Group Life, Group AD&D
27 and Long-Term Disability Insurance in the 2024 Budget.
28 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
29 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
30 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
31 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
32 resolution.
33 Section 4.Repealer. All laws, ordinances,resolutions,or parts of the same,that are inconsistent with
34 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
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1 ADOPTED: September 19,2023
2 AT • APPROVED:
3
4 �� �.�
5 us: ngl= , ity Clerk Direct ..(0k,Ward 7,Acting Mayor
6 APP`TSS'/ED • TO LEGAL FORM:
7
8 PL- ►'V
9 Thomas M. Carpenter, City Attor
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