ITEM NUMBER: 6.F.
School Board Regular Meeting
- Meeting Date:
- 04/18/2016
- Prepared By:
- Jerry Kolander
Item Type:
Action
Subject:
Act on 2016-17 Employee 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 .25% of covered payroll with a three-year rate guarantee. This is a reduction from the current rate from Madison National Life Insurance Company of .295%. The estimated annual savings is $20,550. Supplemental Long-Term Disability coverage remains at .32%.
Recommended Action:
The administration on behalf of the District’s Employee Insurance Committee recommends continuing this insurance program.