Agenda item details
Review, Discussion and Consideration of Contract Award Recommendations for the Group Term Life Insurance and Accidental Death and Dismemberment Insurance Plans under the Texas Employees Group Benefits Program – (ACTION)
- Number:
- 14/2021
- Department:
- Group Benefits
- Recommendation:
- Move that the Board of Trustees of the Employees Retirement System of Texas authorize the Executive Director to negotiate and execute a contract with [RESPONDENT NAME] with terms that are fully acceptable to ERS, and to authorize the Executive Director to administer the contract agreed to by the parties. In the event that ERS is not able to timely negotiate a satisfactory contract with [RESPONDENT NAME], or if [RESPONDENT NAME] will not be capable of providing the required Group Term Life Insurance and Accidental Death and Dismemberment Insurance Plan to ERS’ satisfaction during the contract term, then the Board authorizes the Executive Director to resume any necessary due diligence processes and contract negotiations with the next top-ranked qualified Respondent and to negotiate and execute contract terms that are fully acceptable to ERS and thereafter administer the contract.