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TO: Mayor Richard C. Irvin
FROM: Alisia Lewis, Chief Human Resources Officer
DATE: 8/18/2023
SUBJECT:
A resolution authorizing Sun Life Insurance to provide life insurance services for January 1, 2024 through December 31, 2025.
PURPOSE:
To obtain authorization to continue an agreement between Sun Life Insurance and the City of Aurora.
BACKGROUND:
This is a three (3) year agreement and will save the City $60,000 having moved from the former vendor. Sun Life has also provided $64,000 in additional benefit administration credits. Sun Life provides additional plans for accident and critical illness that employees can purchase for additional coverage. The 2023 Basic/AD&D life rate is .076/.02
DISCUSSION:
There is no increase in the rate for the Basic /AD&D life. The rate is guaranteed for the next two years.
IMPACT STATEMENT:
No impact.
RECOMMENDATIONS:
Place on finance committee agenda for approval to City Council.
cc: Finance Committee
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution authorizing Sun Life Insurance to provide life insurance services for January 1, 2024 through December 31, 2025.
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perform any function pertaining to its government and affairs for the protection of the public health, safety, morals, and welfare; and
WHEREAS, Sun Life will provide life insurance coverage equivalent to the City's needs; and
WHEREAS, the 2024 City budget will provide funding for this item in account number 602-0000-40.28-26.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Aurora, Illinois, as follows: that the attached coverage and rates between Sun Life Insurance and the City of Aurora is here...
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