Title
Dept/ Agency: Administration/Division of Personnel
Action: ( X ) Ratifying (X) Authorizing ( ) Amending
Type of Service: EUS Contract
Purpose: Provide Voluntary Employee Paid Life Insurance Product
Entity Name: Fort Dearborn Life Insurance
Entity Address: 1020 31st Street, Downers Grove, Illinois 60515-5591
Contract Amount: Estimated cost of $160,000.00 provided by participating City employees bi-weekly payroll deductions
Funding Source: N/A - Employee funded
Contract Period: April 1, 2011 to March 31, 2013
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( X ) EUS
( ) Fair & Open ( X ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
7R1-N120811
body
WHEREAS, the City of Newark (the City) desires to provide its employees with the opportunity to participate in a voluntary group life insurance plan; and
WHEREAS, Fort Dearborn has submitted a proposal to provide a voluntary group life insurance plan for two years with no cost to the City; and
WHEREAS, the City of Newark desires to enter into a contract with Fort Dearborn for the provision of a voluntary group life insurance plan, for the contract period of April 1, 2011 and terminating on March 31, 2013 for an estimated cost (actual cost is contingent upon enrollment) of $160,000.00 which is paid solely by participating City employees via bi-weekly payroll deduction; and
WHEREAS, this Contract is awarded without competitive bidding as an exception to Local Public Contracts Law, pursuant to N.J.S.A. 40A:11-5(m), and as an Extraordinary Unspecifiable Service, in accordance with the requirements of N.J.S.A. 40A:11-5(1)(a)(ii); and
WHEREAS, Local Public Contracts Law N.J.S.A. 40A:11-1, et seq. requires a Resolution of the Governing Body authorizing the award of contracts for Extraordinary Unspecifiable Services; and
WHEREAS, the contract is exempt from ...
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