SUBJECT:
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Approval of a resolution authorizing the President & CEO, or her designee, to finalize and execute a contract with Hartford Life and Accident Insurance Company for basic life and AD&D insurance, long-term and short-term disability insurance; and FMLA administration paid by CapMetro, and voluntary life, long term disability buy-up, accident, and critical illness paid by employees in an amount not to exceed $3,363,839, including a 12% contingency.
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FISCAL IMPACT:
Funding for this action is available in the FY2026 Operating Budget.
STRATEGIC PLAN:
Strategic Goal Alignment:
? 1. Customer ? 2. Community
? 3. Workforce ? 4. Organizational Effectiveness
EXPLANATION OF STRATEGIC ALIGNMENT: Employee Life and Disability benefits are offered as a part of the total benefit package for Capital Metropolitan Transportation Authority. The Total Compensation Philosophy is to maintain benefits and compensation at the 50th percentile in relation to the external marketplace. This allows Capital Metro the ability to hire and retain employees reassuring their satisfaction with benefits provided as part of their total compensation.
BUSINESS CASE: This contract is to provide basic life, accidental death and dismemberment, long-term and short-term disability insurance (including leave administration services), and other Voluntary benefits (employee paid), which are provided by Capital Metro to our employees. This also allows for employees to purchase additional life and long-term disability buy-up insurance and other voluntary benefits such as Accident and Critical Care. This is a part of the benefit package offered to employees to remain competitive with other local public and private employers.
COMMITTEE RECOMMENDATION: This item will be presented to the full board on August 25, 2025.
EXECUTIVE SUMMARY: The current contract and all option years for Life, AD&D, disability insurance and FMLA Administration for Ca...
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