Title
Approval of Amendment No. 1 to General Services Agreement No. AGR22-80 with Dearborn Life Insurance Company, in the Amount of $950,000, plus Applicable Gross Receipts Tax, for the Purpose of Providing Basic Life, AD&D, and Voluntary Life Insurance (Ancillary Benefits) to Los Alamos County Employees
Recommended Action
I move that Council approve Amendment No. 1 to General Services Agreement No. AGR22-80 with Dearborn Life Insurance Company, in the amount of $950,000, for the purpose of providing Basic Life, AD&D, and Voluntary Life, Insurance (Ancillary Benefits) to Los Alamos County Employees.
County Manager's Recommendation
The County Manager recommends that Council approve this Amendment No. 1 to General Services Agreement No. AGR22-80 as requested.
Body
Currently, the County offers Basic Life, Basic AD&D, and Voluntary Life and Voluntary AD&D benefits through Dearborn Life Insurance Company. In our current plan, Basic Life and Basic AD&D life insurance coverage is mandatory. The basic life insurance coverage equals the employee's annual salary, up to a maximum of $50,000. The Voluntary Life benefit is, as the name implies, voluntary and can be purchased in increments of $10,000 up to a total of $300,000.
On April 19, 2022, the County entered into Agreement No. AGR22-80 with Dearborn Life Insurance Company for Basic Life, AD&D, and Voluntary Life and AD&D Insurance for Los Alamos County. The initial term of the Agreement commenced on January 1, 2023 and continues through December 31, 2027, and includes three (3) additional one (1) year renewal periods. The compensation for the initial term of the Agreement was approved at approximately ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000.00), across all potential years.
Amendment No. 1 to the original agreement, dated January 28, 2026, increases the total not to exceed amount to NINE HUNDRED AND FIFTY THOUSAND DOLLARS ($950,000.00) to ensure that all amounts paid to the Contractor are properly account...
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