On September 3, 2013 the Board approved to award the RFP for Group Life Insurance to Minnesota Life effective January 2014.  Minnesota Life's proposal matched the current core life program at $25,000 per employee.

Minnesota Life has presented a proposal of $50,000 of core life insurance at $0.070 per $1,000 of coverage or $3.50 per employee per month.  They have also proposed no increase to the supplemental employee life and dependent life rates proposed in the approved RFP on September 3, 2013.  The estimated annual district paid premium on the revised life insurance amount of $50,000 will be $201,390, a reduction of $8,809.50 from the prior fiscal year $25,000 coverage amount.  Minnesota Life has agreed to guarantee these fees for (5) years [01/01/2014-12/31/2018].  All other aspects of the contract that was awarded in the RFP will remain the same.  The collective bargaining unit contract incorporates the increase in the core life program to $50,000 per employee. 

This proposed change will reflect a net savings to the District of 4.1% over the current program or about $8.809.50 per year.