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PROPOSED CONTRACT AMENDMENT
Department(s): Risk Management
Vendor: Dearborn National Life Insurance Company, Downers Grove, Illinois
Request: Authorization for the Chief Procurement Officer to extend and increase contract
Good(s) or Service(s): Group Term Life Insurance Benefits for eligible Cook County employees.
Original Contract Period: 6/1/2010 - 5/31/2013
Proposed Contract Period Extension: 6/1/2014 - 5/31/2015
Total Current Contract Amount Authority: $14,400,000.00
Original Approval (Board or Procurement): 5/18/2010, $10,800,000.00
Previous Board Increase(s) or Extension(s): 5/8/2013, Extension Period 6/1/2013 - 5/31/2014, $3,600,000.00
Previous Chief Procurement Officer Increase(s) or Extension(s): N/A
This Increase Requested: $3,368,623.00
Potential Fiscal Impact: FY 2014 $1,684,311.50, FY 2015 $1,684,311.50
Accounts: 490/499/899-175
Contract Number(s): 10-41-80
Concurrences:
The vendor has met the Minority and Women Owned Business Enterprise Ordinance.
The Chief Procurement Officer Concurs
Summary: This contract was originally awarded as the result of a Request for Proposal (RFP) for a three-year contract with two (2) one-year renewal options. This request represents the second (2nd) one-year renewal option for the contract. This request is for both a time extension and dollar amount increase. The expiration date of the current contract is 5/31/2014.
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