Fiscal Note
Based on anticipated employee participation, this administrative service contract will not exceed $30,000. Funding will be included in the 2006 Requested Operating Budget.
Title
Authorizing the City to enter into a contract with Employee Benefits Corporation (EBC) for the third party administration of the City's Flex Spending Account Benefit Plan.
Body
WHEREAS, the City utilizes a TPA in the administration of its Flex Spending Account Benefit Plan.
WHEREAS, as a result of a competitive RFP, Employee Benefits Corporation (EBC) has been selected to administer this Plan; and
WHEREAS, the City and EBC have agreed upon the conditions and terms of payment to EBC to become effective January 1, 2006, for 2006 enrollment activities.
WHEREAS, such conditions and terms must be memorialized in a formal written agreement.
NOW, THEREFORE, BE IT RESOLVED that City staff are authorized to enter into negotiations with EBC and that the Mayor and City Clerk are authorized to enter into an agreement with EBC for the third party administration of Flex Spending Account Benefit Plan.