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HomeMy WebLinkAboutSummary FormDate: 11/21/2014 AGENDA ITEM SUMMARY FORM FILE ID: 14-011.26 Matter ID No. 14-2734 Requesting Department: Risk Management Commission Meeting Date: 12/11/2014 District Impacted: ALL Type: I1 Resolution ❑ Ordinance n Emergency Ordinance n Discussion Item n Other Subject: Employee Benefit Life and Accidental Death and Dismemberment (AD&D) Plans, RFP No. 469353 Purpose of Item: A Resolution of the Miami City Commission with attachment(s), accepting the recommendation of the City Manager approving the findings of the Evaluation Committee, pursuant to Request for Proposals ("RFP") 469353, for the provision of Employee Benefit Life and Accidental Death and Dismemberment (AD&D) Plans. Further, authorizing the City Manager to negotiate and execute a Professional Services Agreement ("PSA") in substantially the attached form, with Minnesota Life Insurance Company for a contract period of three (3) years with the option to renew for two (2) additional one (1) year periods; allocating funds from account code no. 50001.302001.523000.0000.00000. At an approximate annual amount of $400.,000.00. Background Information: PLEASE SEE ATTACHED. Budget Impact Analysis NO Is this item related to revenue? YES Is this item an expenditure? If so, please identify funding source below. General Account No: 50001.3001.523 000.0000.00000 Special Revenue Account No: N/A CIP Project No: N/A NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds? Start Up Capital Cost: N/A Maintenance Cost: N/A Total Fiscal Impact: $2,000,000.00(4 U ye ) Final Approvals (SIGN AND DATE). CIP Budget If using or receiving capital funds Grants _ Risk Management iL _ Procurement Chief Dept. Director ---Writy Manage r/ Dea..1 ..f7 Agenda Item Summary form Continued: Subject: Employee Benefit Life and Accidental Death and Dismemberment(AD&D) Plans, RFP No. 469353 Background Information: The City of Miami Risk Management Department procured through the Procurement Department RFP No. 469353 issued on August 20, 2014 to secure a provider for the provision of Employee Benefit Life and AD&D Plans. As required by the City's Procurement Code, the RFP was advertised and issued online. On October 6, 2014, a total of four (4) proposals were received. The Committee appointed by the City Manager met on November 14, 2014 and evaluated all proposals. Pursuant to the RFP requirements, the Committee recommended that the City Manager negotiate and execute a PSA, with the highest ranked firm, Minnesota Life Insurance Company; to provide Employee Benefit Life and AD&D Plan services for the Risk Management Department, for a period of three (3) years, with the option to renew for two (2) additional one (1) year periods; allocating funds from account code no. 50001.302001.523000.0000.00000; further authorizing the City Manager, should negotiations fail with the highest ranked firm, to negotiate and execute a PSA with the second highest ranked firm, Standard Insurance Company; further authorizing the City Manager, should negotiations fail with the second highest ranked further authorizing the City Manager to reject all proposals and issue a new RFP solicitation. Dona. nf",