ITEM NUMBER: 6.E.
School Board Regular Meeting
- Meeting Date:
- 05/03/2021
- Prepared By:
- Tom Sager
Item Type:
Action
Subject:
Act on Effective 1/1/2022 Employee Long-Term Disability Insurance Renewal
Background:
Bids were solicited for the District’s Long-Term Disability insurance program. The low bid was submitted by Madison National Life Insurance Company for .22% of covered payroll with a three-year rate guarantee.This is a reduction from the current rate from Madison National Life Insurance Company of .25%. The estimated annual savings is $17,505. Supplemental Long-Term Disability coverage remains at .32%.
Recommended Action:
The administration recommends approval of the Madison National Life Insurance Company employee long-term disability insurance bid, as described.