Addon.Standard.Disability.InsuranceSouth Miami
To: The Honorable Mayor & Members of the City Commission
Via: Buford R. Witt, Acting City Manager
From: Carmen V. Baker, Acting Human Resources Manager
Date: August 17, 2010 Agenda Item No.: ®�
Subject: Long Term Disability Resolution
Request: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH
MIAMI, FLORIDA, AUTHORIZING THE CITY MANAGER TO RENEW THE CONTRACT
WITH STANDARD INSURANCE TO PROVIDE GROUP LONG TERM DISABILITY
INSURANCE FOR CITY OF SOUTH MIAMI FULL TIME EMPLOYEES. TO BE
CHARGED TO DEPARTMENTAL ACCOUNT NUMBERS RESPECTIVELY;
PROVIDING FOR AN EFFECTIVE DATE.
Reason /Need: We have received renewal rates from our current group Long Term Disability insurance
carrier, Standard Insurance. Standard Insurance proposed a 18.8% decrease for the Long
Term Disability Insurance.
Long Term Dlsabi litV (Rate Guarantee Period: 2 Years thru 9/30/2012)
$0.195 (per $100 of mo. payroll)
The City would cover the 100% of the $14,122 annual rate for Long Term Disability.
Based on current enrollment assumptions (142 FTE), the annual decrease from this year
to the next two years would be approximately $3,258.00 per year. Current staffing levels
are at 144 full time employees.
Backup Documentation:
❑ Proposed Resolution
❑ Proposed Long Term Disability Rates
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RESOLUTION NO:
A Resolution of the Mayor and City Commission of the City of South Miami, Florida,
authorizing the City Manager to enter into a contract with Standard Insurance to provide
Long Term Disability insurance for City of South Miami full -time employees. To be
charged to departmental account numbers respectively; providing for an effective date.
WHEREAS, the City currently contributes one hundred percent (100 %) of the premiums
for life /accidental death/dismemberment insurance for its fulltime employees; and,
WHEREAS, currently, the City's is up for renewal with Standard Insurance; and,
WHEREAS, the insurance carrier (Standard Insurance) proposed a 18.8% decrease the
next two (2) plan years; and,
WHEREAS, with the selection of Standard Insurance, the designated Agent of Record
will be Employee Benefits Consulting Group until such time as the contract expires or until
determined by either party.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA, THAT;
Section 1. This contract shall be effective October 1, 2010 and shall be renewable on an
annual basis.
Section 2. This engagement is at will and shall continue until either party terminates
the engagement by giving written notice to the other party. The City shall not be charged for
agent of record services, Employee Benefits Consulting Group shall be insurer.
Section 3. This resolution shall take effect immediately upon approval.
Contract with Standard Insurance to provide Long Tenn Disability Insurance
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PASSED AND ADOPTED this �th day
ATTEST:
CITY CLERK
READ AND APPROVED AS TO FORM:
CITY ATTORNEY
2010.
APPROVED:
MAYOR
Commission Vote:
Mayor Phillip Stoddard:
Vice Mayor Valerie Newman:
Commissioner Brian D. Beasley:
Commissioner Velma Palmer:
Commissioner Walter Harris:
Contract with standard Insurance to provide Long Term Disability Insurance