...Title
Amendments to the Agreements with Standard Insurance Company and Life Insurance Company of North America.
...Recommendations
(a) Adopt a resolution authorizing the City Manager or her designee to negotiate and execute a Third Amendment to the Consultant Agreement with Standard Insurance Company to provide group basic life and accidental death and dismemberment insurance, supplemental life insurance, dependent life insurance, and matching accidental death and dismemberment insurance as applicable, to employees and retirees, extending the term of the Agreement from January 1, 2026, to December 31, 2030, and increasing the not-to-exceed Agreement amount from $13,427,595 to a revised not-to-exceed amount of $26,279,570, subject to the appropriation of funds.
(b) Adopt a resolution authorizing the City Manager or her designee to negotiate and execute a Fourth Amendment to the Consultant Agreement with Standard Insurance Company to provide voluntary long-term disability insurance to employees, extending the term of the Agreement from January 1, 2026, to December 31, 2030, and increasing the not-to-exceed Agreement amount from $21,141,181 to a revised not-to-exceed amount of $42,918,680, subject to the appropriation of funds.
(c) Adopt a resolution authorizing the City Manager or her designee to negotiate and execute a Fifth Amendment to the Vendor Agreement with Life Insurance Company of North America to provide voluntary personal accident/accidental death and dismemberment insurance to employees and retirees extending the term of the agreement from January 1, 2026, to December 31, 2030, and increasing the not-to-exceed amount from $7,100,000 to a revised not-to-exceed amount of $12,636,874.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no changes to the physical environment. (Human Resources)