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File #: 220140    Version:
Type: Resolution Status: Passed
File created: 6/1/2022 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 7/28/2022
Effective date:    
Title: Substitute resolution authorizing the Department of Employee Relations to execute a contract for the City's group life insurance and long term disability benefit.
Sponsors: THE CHAIR
Indexes: EMPLOYEE BENEFITS, INSURANCE BENEFITS, LIFE INSURANCE
Attachments: 1. DER Letter, 2. Executive Summary, 3. Hearing Notice List
Number
220140
Version
SUBSTITUTE 1
Reference
211472

Sponsor
THE CHAIR

Title
Substitute resolution authorizing the Department of Employee Relations to execute a contract for the City's group life insurance and long term disability benefit.

Analysis
This resolution authorizes the Department of Employee Relations to execute a contract for the City’s group life insurance benefit for employees and retirees and long term disability insurance for general city employees with the contract commencing January 1, 2023.

Body
Whereas, The current contract terms and rate guarantees with MetLife for life insurance and Sun Life for long term disability coverage expire December 31, 2022; and

Whereas, Common Council Resolution File Number 211472 authorized the Department of Employee Relations to complete a request for proposal process for life insurance and long term disability benefits; and

Whereas, The City's benefits consultant, Gallagher Benefits Services, led a request for proposal process which included evaluation of proposal responses by a review and selection committee of employees from the Department of Employee Relations and the Employes’ Retirement System; and

Whereas, Sun Life provided the lowest premium rates for life insurance coverage and matched the current plan design and age-banded voluntary rates and family coverage premium rates; and

Whereas, Sun Life provided a competitive offer for long term disability coverage and when combined with the life insurance bid provides significant savings to City; and

Whereas, Sun Life also offered a three year rate guarantee for both life insurance and long term disability; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee that the Department of Employee Relations is authorized to execute a three year contract for life insurance and long term disability coverage with Sun Life beginning January 1, 2023 with an optional two year contract extension.

Requestor
Department of Empl...

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