Meeting Date:   10/10/2017 - 5:30 PM
Category:   CONSENT AGENDA
Type:   Action
Subject:   8. Consider renewal of employee life insurance benefit plan with Ochs, Inc.
Revised Comments
Policy:  
Enclosure
File Attachment:  
Ochs, Inc.--Basic Life Insurance Rates.pdf
Background Information Beginning in 2015, the City partnered with the Ochs agency to service our group life insurance policy. That policy, which was a 3-year term, expires on 12-31-17.

Our basic policy covers: $10,000 on the employee, $5,000 on the spouse, and $2,000 for each dependent child.

Retirees are eligible for the benefit and if elected, the retiree is responsible to pay for the full premium.

The City has received a renewal proposal for this policy. The renewal proposes the same term, a 3-year term beginning 01-01-2018, and no rate changes from our prior agreement.

We currently hae 95 active employees on our life insurance plan. The total annual cost of the plan would be $3,187.68. The proposal with rates are attached.
Fiscal Impact No rate increase is being proposed--rates would remain unchanged through 12/31/2020.
The employer annual cost of the insurance plan would be $3,187.68.
Alternative/Variations None recommended
Recommendations
Approvals:  
Recommended By:
Signed By:
Sheila Dubs Int - Interim City Administrator
Signed By:
Sheila Dubs Signer - Interim City Administrator
Vote Results:  

Motion #1:
Member (Steven Meister) Moved, Member (Craig Schafer) Seconded to approve the Original motion 'the following consent agenda items be approved as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion CARRIED 7 - 0