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PROPOSED CONTRACT AMENDMENT
Department(s): Risk Management
Vendor: Wage Works, Inc., San Mateo, California
Request: Authorization for the Chief Procurement Officer to renew and increase contract
Good(s) or Service(s): Flexible Spending Account Administration
Original Contract Period: 8/1/2013 - 7/31/2016, with two (2) one (1) year options for renewal.
Proposed Contract Period Extension: 8/1/2016 - 7/31/2017
Total Current Contract Amount Authority: $484,176.00
Original Approval (Board or Procurement): 7/31/2013, $484,176.00
Previous Board Increase(s) or Extension(s): N/A
Previous Chief Procurement Officer Increase(s) or Extension(s): N/A
This Increase Requested: $163,525.00
Potential Fiscal Impact: FY 2016 - $54,508.33, FY 2017 - $109,016.67
Accounts: 490-827
Contract Number(s): 12-18-122
Concurrences:
The vendor has met the Minority- and Women-owned Business Enterprise Ordinance via direct participation and partial MWBE waiver.
The Chief Procurement Officer concurs.
Summary: The Department of Risk Management is requesting authorization for the Chief Procurement Officer to exercise the first amendment option for the administration of Health and Dependent Care Flexible Spending Account (FSA) programs for the benefit of Cook County employees. Eligible employees leverage pre-tax payroll deductions in accordance with IRS regulations. The County funds the annual administrative fees.
This contract was awarded through Request for Proposals (RFP) procedures in accordance with Cook County Procurement Code. Wage Works was selected based on established evaluation criteria.
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