SOLICITATION NOTICE
G -- Group Life Insurance
- Notice Date
- 6/8/2021 11:01:43 AM
- Notice Type
- Combined Synopsis/Solicitation
- NAICS
- 524113
— Direct Life Insurance Carriers
- Contracting Office
- COMPTROLLER OF CURRENCY ACQS WASHINGTON DC 20219 USA
- ZIP Code
- 20219
- Solicitation Number
- 2031JW21Q00092
- Response Due
- 6/17/2021 2:00:00 PM
- Archive Date
- 07/02/2021
- Point of Contact
- Nardia Collins, Sean Frey
- E-Mail Address
-
nardia.collins@occ.treas.gov, sean.frey@occ.treas.gov
(nardia.collins@occ.treas.gov, sean.frey@occ.treas.gov)
- Description
- The OCC is seeking an experienced and qualified contractor to underwrite and administer its group life insurance program for its active and retired employees and their eligible dependents as well as the active employees and eligible dependents of the OFR. The retirees of OFR are not eligible to continue this life insurance benefit into retirement. OCC has been offering its own group term life insurance program since the early 1980s, in addition to the federal group term life program known as the Federal Employees Group Life Insurance (FEGLI). There are approximately 2,580 employees and 2,510 retirees (of which 688 are part of a frozen group, please see Plan Design for more details on this group) enrolled in the OCC Group Life Insurance Program. The current Contractor has delivered, and OCC has accepted Group Policy # 146410-1-G and related Certificates of Insurance (together, the ""Policy""). The Contractor will amend the Policy to provide the benefits described in this section 2.0 Scope of Work (see attachment) to include the following provisions: � Due to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the addition of the Office of Thrift Supervision (OTS) employees, their eligible dependents and retirees as well as the OFR employees and eligible dependents have been added to the OCC life insurance program; � The Supplemental (Optional Employee) maximum coverage will be from $25,000 up to $500,000 or 5 times the employee�s annual salary; and, � Enrollment or enrollment changes due to a salary increase of Optional employee coverage is up to two multiples of $25,000 ($50,000 maximum). This change can be made within 31 days of the effective date of the change in salary. In the event the Contractor finds any inconsistencies between the Policy and section 2.0 Scope of Work, the Policy shall govern. The OCC Group Life Insurance Program is currently being administered by Metropolitan Life whose current 5-year term contract is scheduled to end on June 30, 2021.
- Web Link
-
SAM.gov Permalink
(https://beta.sam.gov/opp/f3e8250d214c4956a3ea00e1a1416ac8/view)
- Place of Performance
- Address: USA
- Country: USA
- Country: USA
- Record
- SN06024938-F 20210610/210608230103 (samdaily.us)
- Source
-
SAM.gov Link to This Notice
(may not be valid after Archive Date)
| FSG Index | This Issue's Index | Today's SAM Daily Index Page |