| | | | | | | |  | CITY OF PLANO
COUNCIL AGENDA ITEM |
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| | | | | | | | Council Meeting Date: 12/12/2016
Department: HR
Department Head: Shanté Akafia
Agenda Coordinator: Vernie Rambo |
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CAPTION
RFP No. 2017-0021-C for a one (1) year contract with five (5) one-year City optional renewals for Stop Loss Insurance for Human Resources to SA Benefit Services, LLC in the estimated amount of $1,740,282; and authorizing the City Manager to execute all necessary documents. APPROVED |
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FINANCIAL SUMMARY Operating Expense
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FISCAL YEAR:
FY 2016-17 thru FY 2021-22
|
Prior Year
(CIP Only) |
Current
Year
|
Future
Years
|
TOTALS |
| Budget |
0 |
1,750,000 |
8,400,000 |
10,150,000 |
| Encumbered/Expended Amount |
0 |
0 |
0 |
0 |
| This Item |
0 |
-1,305,211 |
-8,400,000 |
-9,705,211 |
| Balance |
0 |
444,789 |
0 |
444,789 |
FUND(S): Health Claims Fund
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COMMENTS: This item approves a contract for the City of Plano's Stop Loss Coverage. The anticipated cost in FY 2016-17 of $1,305,211 and estimated future costs of $8,400,000 will be funded via regular employee, retiree, and city contributions to the City's Health Claims Fund. |
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SUMMARY OF ITEM
See Recommendation Memo.
Strategic Plan Goal:
Financially Strong City with Service Excellence
Plano Tomorrow Plan Pillar:
Economic Environment |
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