BARTEL ASSOCIATES, LLC N-2020-095

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Exhibit B SECTION 4 COST PROPOSAL All Proposers are required to submit a cost breakdown by contract year (including renewal option term if exercised); including estimated hours, hourly rates, expenses, and a total not -to - exceed cost with their Proposal. Pricing instructions should be clearly defined to ensure fees proposed can be compared and evaluated. Proposals shall be valid for a minimum ofninety (90) days following Proposal deadline. Our fees are a function of the hours worked by each professional on a project and their hourly billing rates. Our hourly rates and estimated hours for the project are as follows: Team Member 2020 Hourly 2021 Rates (assumes 3% 2022 2023 CPI) 2024 2025 Vice President (Redding) $300 $310 $320 $330 $340 $355 Assistant Vice President $270 $280 $290 $300 $310 $320 Associate Actuary (Frazita) $220 $230 $240 $250 $260 $270 Senior Actuarial Analyst $200 $210 $220 $230 $240 $250 Actuarial Analysts $160 $165 $170 $180 $190 $200 Expenses (none, included in rates) Estimated Hours 2020 2021 2022 2023 2024 2025 Full Full Full Valuatio Roll- Valuatio Roll- Valuatio Roll - Team Member n forward n forward n forward Vice President (Redding) 6 1 6 1 6 1 Assistant Vice President - - _ _ Associate Actuary (Frazita) 15 3 15 3 15 3 Senior Actuarial Analyst - - - - _ _ Actuarial Analysts 40 8 40 8 40 8 Total Feesl $11,500 $2,320 $12,320 $2 520 $13 540 $2 765 Our not -to -exceed fee to prepare a GASB Statement 75 actuarial valuation of the City's retiree healthcare plan as of July 1, 2019 for FY 2020/21 report and for the next 2 cycles is shown above. It includes: I Assumes no "crossover test" is required. See notes below for details. Bartel Associates, LLC 15 City of Santa Ana