Title
Amendment for the one year extension on the current service agreement with Great West, Sedgwick County's 457 Plan service provider.
Body
Recommended Action: Approve the contract extension.
Sedgwick County has had a service agreement with Great West since 2007. This agreement had an ending date of September 30, 2014. It states in the amendment, that the agreement will remain in effect unless either party terminates this agreement by providing a 90 day advanced written notice. Human Resources is requesting a one year extension so we can continue receiving services from Great West until September 30, 2015. During this period of time, Human Resources will be going through the process of accepting bids for service providers for our 457 plan, as it has been over seven years since we have done so.
Analysis: This extension is necessary to allow for continued service as we go through the review process for a service provider.
Alternatives: Provide a 90 day notice, running the risk of not having a service provider, as we would not have a new provider in place within 90 days.
Financial Considerations: N/A
Legal Considerations: The authority for this action is K.S.A. 19-101, et seq., and County Resolution 100-08. A simple majority vote is required.
Policy Considerations: N/A