- (a) The Arkansas State Employees Association, Inc., shall develop and administer a cafeteria plan for voluntary products on behalf of eligible state employees.
(b)
- (1) All voluntary products shall be contracted through a competitive sealed bidding process.
- (2) The Arkansas State Employees Association, Inc., shall ensure the selection of voluntary products offers the best combination of benefits and pricing available.
- (3) The Arkansas State Employees Association, Inc., shall provide the Employee Benefits Division a report of all competitive bids including the procedures followed and selection process.
- (4) No voluntary product contract, including amendments and extensions, shall exceed seven (7) years without being competitively rebid.
- (c) The Arkansas State Employees Association, Inc., shall present all new contracts and amendments to existing contracts for voluntary products to the State Board of Finance and the Employee Benefits Division Oversight Subcommittee.
- (d) Any material changes to voluntary products contracts shall be reported to the board and the Employee Benefits Division Oversight Subcommittee.