Dept/ Agency: Administration/Division of Personnel Action: ( X) Ratifying (X) Authorizing ( ) Amending Type of Service: Contract for Life Insurance Plan Purpose: Retiree Life Insurance (Policy Coverage Threshold : $1,500 per eligible retiree) Entity Name: Prudential Life Insurance Entity Address: 80 Livingston Avenue, Roseland, NJ 07068 Contract Amount: Estimated cost of $268,876.00 Funding Source: City of Newark Budget Contract Period: January 1, 2012 through December 31, 2013 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( X )Insurance/EUS ( ) Fair & Open ( X ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( Insurance Exception, N.J.S.A.40A:11-5(m) ) n/a Additional Information: Prior Adopted Resolution 7R1Y092111