Res No 171-17-14972RESOLUTION NO. 171-17-14972
A Resolution authorizing the City Manager to purchase life, accidental death &
dismemberment insurance and long term disability insurance benefits from Mutual of
Omaha for full time employees and participating retirees for Fiscal Year 2017 ... 2018.
WHEREAS, the City, through its Agent of Record, Brown & Brown of Florida secured three competitive
quotes for the City's Group Life, AD&D and Long Term Disability and recommended Mutual of Omaha as the
selected Life, AD&D and Long Term Disability Insurance provider.
WHEREAS, the City, through its Agent of Record, Brown & Brown of Florida compared the insurance
rates, Life, AD&D and Long Term Disability plan design, provider network as well as the City's previous claims
experience/ratio; and
WHEREAS, the City Commission wishes to approve the selection of Mutual of Omaha for the provision
of Life, AD&D and Long Term Disability insurance benefits for all full time employees and participating retirees.
WHEREAS, the premium shall be charged to departmental line items in their respective account
numbers.
NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF
THE CITY OF SOUTH MIAMI, FLORIDA THAT:
Section I. The City Commission hereby authorizes the City Manager to purchase the Life, AD&D and
Long Term Disability policy from Mutual of Omaha for full time employees and retirees for the 20172018 Fiscal
Year.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this15th day of August ,2017.
ATTEST:
~L~~ OTYLERK~
COMMISSION VOTE: 5 -0
Mayor Stoddard: Ye a
Vice Mayor Welsh: Yea
Commissioner Harris: Yea
Commissioner Liebman: Yea
Commissioner Edmond Yea
THE CITY OF PLEASANT LIVING
To:
FROM:
DATE:
. SUBJECT:
Background:
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER-OFFICE MEMORANDUM
The Honorable Mayor & Members of the City Commission
Steven Alexander, City Manager
Agenda Item No.: / '--August 15, 2017
A Resolution authorizing the City Manager to purchase life, accidental
death & dismemberment insurance (AD&D) and long term disability
insurance benefits from Mutual of Omaha for full time employees for
Fiscal Year 2017-2018.
Typically, costs are expected to increase 10-15% e·ach year and based
on that industry forecast, the city budgeted for an increase of 15% to
allow for proper assumptions in this· regard. The City's benefits agent on
record, Brown & Brown of Florida, Inc. per Resolution #137-16-14692,
solicited quotes for the employee's Life Insurance, AD&D and Long Term
Disability insurance coverages for South Miami full time employees for
the Year 2017-2018 Plan. Mutual of Omaha, the City's current insurance
carrier, renewal rate represented no increase from last year. The renewal
is appropriately· funded in the proposed Budget for Fiscal Year 2017-
2018.
Recommendation: B.ased upon the proposals received, staff recommends the City renew
with the current carrier, Mutual of Omaha.
Amount:
Account:
Attachments:
The estimated total annual costs for the City for Life Insurance, AD&D
and Long Term Disability insurance coverages is about $32,000.
Premium charges for Life Insurance, AD&D and Long Term Disability
insurances will be charged to the designated departmental budge li"ne
items as proposed in the Fiscal Year 2017-2018 budget.
Proposed resolution and 2017-2018 comparison.
October 2017 Basic Life and Long-Term Disability Comparison for City of South Miami
LIFE & AD&D
Carner
LONG TERM DISABILITY
Cali ier
Period
. Until 9/30/201.8
CUllent
$6,710,550
$0.160
$0.020
$1,207.90
$14,494.79
Mutual of Omaha
All Full-llme Employees Actively at Work All
$6,000
60%
90 Days
SSNRA
3/12
24 Months
3 Months
24 Months
Included
Non-Contributory
100%
Until 9/30/2018
Current
$592,144
$0240
$1,421.15
$17,053.75
TOTALRNANC~LSUMMARY
TOTAL ANNUAL PREMIUM
TOTAL % Change
TOTAL $ Change
Rates s~own are blised on census data provldad. Final rates ore subject to underwrnlng ond actual enrol!ment.
This cDmparison Is for illustrative purposes only. The fulrp.ollcy ond cerlincete of coverall" will superaede any
and all matarlals provided heraln.
Guardian
5.88%
Page 2 of 11
October 2017 Basic Life and Long-Term Disability Comparison for City of South Miami
LIFE & AD&D
Carner
LONG TERM DISABILI ry
Carner
,
Until 9i30/2018 .
Current
$6,710,550
$0.160
$0.020
$1,207.90
$14,494.79
Mutual of Omaha The Hartford
Ali Full-Time Employees Actively at Work
$6,000
60%
90 Days
SSNRA
3/12
24 Monlhs
3 Months
24 Months
Included
Non-Contributory
100%
Until 9/30/2018
Clillent
$592,144
$0.240
$1,421.15
$17,053.75
TOTAL FINANCIAL SUMMARY
TOTAl ANNUAL PREMIUM
TOTAL % Change
TOTAL $ Chamle
Rataa shown are based on censua data provldBd. Final ratsa ara subject II> underwrlilng and actual enrollment
Th .. comparison Is for UlustrutlVe purposes {lnly. The full pollcy and certiflcate Of cDverugo Will supersede .any
and ell matena .. provided her';ln. Paga30f11
October 2017 Basic Life and Long-Term Disability Comparison for City of South Miami
LIFE & AD&D
Carner
LONG TERM DISABILITY
CarnG!
Until 9/30/2018
Current
$6.710,550
$0.160
$0.020
$1,207.90
$14,494.79
Mutual of Omaha
All Full-Time Employees Acti~elY at Work
$6,000
60%
90 Days
SSNRA
3/12
24 Months
3 Months
24 Months
Included
Non-Conbibutol}'
100%
Until 9/30/2018
Current
$592,144
$0.240
$1,421.15
$17,053.75
MelUfe
All Full-Time Public Safety All other Full-Time
Employees Actively at Employees Actively at
Work Work
.$6,000 ..
60%
90 Days
RBDw/SSNRA
3/12
24 Months
3 Months
None I 24 Months
SSNRA
Non-Contributory
100%
24 Months
Solei With BasIc Life
$578.273
$0.489
$2.827.75
$33,933.06
TOTAL FINANCIAL SUMMARY
TOTAL ANNUAL PREMIUM
TOTAL %'Change
TOTAL $ Chantle
Rates shown are boaed on census dala provided. Final ralea are subject to underwrHlng and actual enrollment
This comparison Is for ifiuslratlve purposes only. The full policy and certificate of coverage wm 9uptir~ede'any
and an matelials provided herein. . PageSof11
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October 2017 Basic Life and Long-Term Disability Comparison for City of South Miami
LIFE & AD&D
Carne1
LONG TERM DISABILITY
Callier
Until 9/3012018
Current
$6710,550
$0.160
$0.020
$1,207.90
$14,494.79
Mutual of Omaha The Stamlarei
All Full-Time Employees Actively at Work
$6,000
60%
9OD¥
SSNAA
3/12
24 Months
3 Months
24 Months
Included
Non-Contributory
100%
Until913012018 .
Current
$592,144
$0.240
$1421.15
$17,053.75
TOTAL I'INANCIAL SUMMARY
TOTAL ANNUAL PREMIUM
TOTAL % Changil
TOTAL $ ChanGe
• Ratea shown are -baaed on census data provided. ·Flnal ralae are 8ubject to underwrHlng and aelual enrollment.
This compartaDn Is fOr muatretlve pu~es only. The fun pDncy and cerUfleate of coverage wm supersed. any
s)ld all malarias'provlded herein. PageS.lll
I,'
. October 2017 Basic Life and Long-Tenn. Disability Comparison for City of South'Miami
LIFE & AD&D
Carner
LONG TERM DISABILITY
Cill rlGr
to 65%
Until9/S0/2018
Curre'lt
$6,710,550
$0.160
$0.020
$1207.90'
$14,494.79
Mutual of Omaha
All Full·Time Emplovees Actively at Work
$6000
60%
90 Days
SSNRA
S/12
24 Months
3 Months
24 Months
Included
Non·ConlJibutory
100%
Until 9/30/2018
CUllent
$592,144
$0.240
$1,421.15'
$17,05S.75
TOTAL FINANCIAL SUMMARY
TOTAL ANNUAL PREMIUM
TOTAL % Change
TOTAL $ Chenae
• RateS !'h0wn are baaad 011 canalIS da" provlded .. Flnsl rates are subject 10 underwriting and aclnel8l1ro!1menl.
This comparison Is for IDuslralive purposes' only. The fuh polICy and certificate of cO',(erags' will supsl'llllCle.any
and aU materials provided herein.
Slill Life
at Work
Page90111
October 2017 Basic ute and Long-Tenn Disabiiity Comparison tor City of South Miami
LIFE & AD&D
Carnel
LONG TERr~ DISABILITY
Carnel
Until 913012018
Current
$6,710,550
$0.160
$0.020
$1207.90
$14,494.79
1\1utual of Oillaila
All Full-Tlme"EmoloyeesActively at Work
$6,000
60%
90 Days
SSNRA
3/12
24 Months
3 Months
24 Months
Included
Non-Contributorv
100%
Until 9/3012018
Currcnt
$592,144
$0.240
$1,421.15
$17,053.75
I
Unltecl Healtllcarc
All
TOTAL FINANCIAL SUMMARY
TOTAL ANNUAL PREMIUM
TOTAL % Change
TOTAL $ Change
• Rates shown are based on census data provided. Final rates lire subject to underwrlllng and actual enrolment
This comparison Is ror illustratIVe pUrp0888 only. The fUP poley and certlllcllte Dr coverags wiD supersede any
and an materialS provided herein. Page" of 11
October 2017 Basic Life and long-Tenn Disability Comparison for City of South Miami
LIFE & AD&D
Cilrrier
LONG TERM DISABILITY
Carner
Until 9/30/2018
Current
$6,710550 .
$0.160.
$0.020
$1201.90
$14,494.79
Mutual of Omaha
All Full-Time Employees Actively at Work
$6,000
60%
90 Days
SSNRA
3/12
24 Months
3 Months
24 Months
Included
Non-Contributory
100%
Until 9/30/2018.
Current
$592,144
$0.240
$1421.15
$17,053.75
TOTAL FINANCIAL SUMMARY
TOTAL ANNUAL PREMIUM
TOTAL % Change
TOTAL $ Change
Rates shown an; IJased on cenaua dala ProVkled. FInal rates are subject to undBrv.irttlng and acliJal enrollment.
This comparison Is for illustrative PU1jl08t!& only. The full poliCY.lInd cert1ficale of coverage win supersede any
and all materials provided herein.
Prudential
at Work
Pago 7 of 11