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RTA and The Kennedy Group Contract
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DESCRIPTION: This RTA Board of Commissioners action will authorize the CEO to negotiate and execute an amendment and provide funding of the Amended RTA/Kennedy Group Contract.
AGENDA NO: Click or tap here to enter text.
ACTION REQUEST:
? Approval ? Review Comment ? Information Only ? Other
RECOMMENDATION:
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To authorize the Chief Executive Officer to negotiate and execute an amendment to the RTA/Kennedy Group Contract to provide insurance brokerage and retiree medical and life benefit services. The total funding requested which is explained below, is $1,128,541.57
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ISSUE/BACKGROUND:
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The RTA and Kennedy Financial Services Group have a contract for the provision of insurance brokerage services and to offer certain former TMSEL/NOPSI retired transit employees medical and life benefits pursuant to the 1983 Health and Welfare Benefit Agreement services. As RTA's insurance broker, Kennedy secures all commercial insurance coverages required by RTA including but not limited to property, crime, public officials, overhead catenary, flood auto liability, general liability and auto physical damage. As RTA's retiree employee medical benefits service providers, Kennedy secures all the health benefits for eligible TMSEL/NOPSI retirees. "The original five-year contract between RTA and Kennedy Group was awarded February 22, 2011, pursuant to RTA Resolution Number 11-021. The second Award of a five-year contract between RTA and the Kennedy group was completed May 24, 2016, pursuant to RTA resolution Number 16-027. This board action represents a third award amendment of this five-year contract. The "Term/Termination provisions of the contract specifically state term of this Agreement shall be from April 1, 2016, to March 31, 2021. Thereafter, this Agreement shall automatically renew for successive renewal terms under the same terms and conditions as the initial term unless either party provid...
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