HomeMy WebLinkAboutR-74-0501MCieb
RESOLUTION No.
A RESOLUTION AUTHORIZING AND DIRECTING THE
CITY MANAGER TO OBTAIN THE SERVICES OF AN
ACTUARY FOR ANALYSIS AND EVALUATION OF BIDS
RECEIVED ON GROUP INSURANCE FOR EMPLOYEES
AND RETIREES OF THE CITY OF MIAMI AND THEIR
DEPENDENTS, THE COST OF SAID ACTUARIAL
SERVICES NOT TO EXCEED $3,500, AND TO BE
PAID FROM THE "ADMINISTRATION OF SPECIAL
FUNDS PENSION - SOCIAL SECURITY - INSURANCE"
ACCOUNT (CODE #4-219.03).
WHEREAS, pursuant to Resolution No.
the City Commission authorized advertisement for bids
on group insurance; and
WHEREAS, the City Manager is likely to receive
numerous bids or proposals from insurance companies
seeking to obtain favorable recognition and approval by
the City. Commission in its efforts to secure maximum
protection at lowest cost for the active and retired
employees of the City of Miami; and
WHEREAS, the plans and premium costs for Group
Life, hospitalization, Surgical and Major Medical
Insurance coverages are expected to be many and varied
in their form and content; and
WHEREAS, there is also the problem of administra-
tion, claim handling, procedures, and experience premium -
fixing formulae to evaluate as the bids and proposals are
considered; and
WHEREAS, there are the interests of over 4,000
active employees involved who will participate in the coat
of such coverages; and
WHEREAS, there will be the interests of dependents
of active employees as well as retired employees and their
dependents to protect; and
WHEREAS, utilization of the services of an independent
actuary possessing skill and expertise in the insurance industry
is deemed necessary to enable all parties concerned to reach a
wise and sound decision on the choice of carriers;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF
THE CITY OF MIAMI, FLORIDA:
Section 1. That the City Manager is authorized and
directed to obtain the services of an actuary for analysis and
evaluation of bids received on groupinsurance for employees and
retirees of the City of Miami and their dependents, the cost of
said actuarial services not to exceed $3,500, and to be paid from
the "Administration of Special Funds - Pension - Social Security -
Insurance" Account(Code #4-219.03)
PASSED AND ADOPTED this c" day of
1974.
PREPARED AND APPROVED BY:
Mi ele Cart
Assistant City Attorney
APPROVED AS TO FORM AND CORRECTNESS:
hn S. Lloyd
ity Attorney
-Wfyi,6 •