07-9921r
RESOLUTION NO. 9921
RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE
AN AGREEMENT WITH THE STANDARD INSURANCE COMPANY FOR
LONG-TERM DISABILITY INSURANCE BENEFITS
WHEREAS, the City has provides long-term disability insurance benefits to all
fulltime employees; and
WHEREAS, the City is required by Minnesota statutes to request proposals for
group insurance coverage at least once every five years; and
WHEREAS, the City requested proposals for long-term disability insurance for
benefit years beginning in 2007; and
WHEREAS, the City made benefit and cost comparisons evaluating all of the
proposals, using written criteria; and
WHEREAS, The Standard Insurance Company provided the lowest premium cost
and met all of the City's criteria; and
WHEREAS, the proposed premium rate is $0.34 per $100 of covered payroll for
three years.
NOW, THEREFORE, BE IT RESOLVED the City Manager is authorized to execute
an agreement with The Standard Insurance Company for long-term disability insurance
benefits for a three-year period beginning May 1, 2007.
Adopted by the City Council of the City of Richfield, Minnesota this 24th day of April
2007.
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Debbie Goettel, Mayor
ATTEST:
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Nancy Gibb, Ity Clerk