Shelby County Schools life insurance decision delayed

Oct. 19--Shelby County Schools employees and retirees will have to wait another month to find out what their life insurance rates will be for next year, but it could mean they won't have to pay as much or see a cut to the benefit.

After receiving just one expensive bid earlier this year, the district informed retirees and employees they would either see a benefit cut or would have to contribute to their premiums. The school board approved that contract, which has a cancellation option, but the district went out for bid again in hopes of finding a lower rate.

Superintendent Dorsey Hopson said Tuesday the district received seven bids the second time around, although he didn't say whether they were less than the original bid from MetLife. After saying in September he would need one more month, Hopson said Tuesday he would bring options to the district in November. He added a committee that includes retirees will weigh in on which contract the district should choose and what the rates will be.

Hopson said he will bring the school board a recommendation at the November board meeting. That means employees and retirees will have to wait until then to know what their rates will be for life insurance next year.

The board approved a new contract in August even though it was $7 million a year more than what the district paid previously. The district can cancel the contract with 30 days' notice.

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