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. ' <br />a ~. r <br />t <br />.r <br />3. Tt is assumed that the employees of the Agency are of 3 membee claaaiflAatioas <br />and that there w33.]. be included in the valuation 55 persons who are members or <br />who are receiving retirement allowances because of service rendered to Agency. <br />!t. Should Actuaries encounter in the valuation air unusual situation or should <br />Actuaries be requested by A,geuoy to make #y~~~. valuations of different combina~- <br />tio~na of benefits and contributiansf which might require as additional axpt~nditure <br />of time-~ said situation and request shall be brought to the attention of the Board <br />of A~dm3nistration~ State mnployeesi Retirement System for further consideration. <br />It is understood that the time expended in connection with said unusual situation <br />ar~d further valuation, 3s not ~,ncludsd within the fee stated herein. <br />~. Agency and Aotuari,®a understand that aald Board of Administration wi.Il furnish to <br />Actuaries, the data relative to persons who are members of said Retirement System <br />with credit for service rendered as employees of Agency, necessary Par performance <br />of the work described in paragraph 2. Both parties also understand that said <br />Board of Administration wi11 make ~railabla to Actuaries; various tables and <br />schedules of rate8 based on the experieaas under said Retirement System among msm.- <br />b~r's thereof; as determined in current and previous imestigationa and valuations, <br />Bath parties understand, further, that in accordance with said Retirement Laws the <br />work to be performed by Actuaries shall be performed under the direction of the <br />Actuary of the Retirerrrant System, and that all data in connection with said work, <br />including work sheets, final results, and reports from Actuaries, shall be the <br />property of the Hoard of Administration and ah811 be delivered to said Board at <br />the conolu~sion of said work. <br />6. For the full performance and completion of said services, Actuaries shall reeeiva <br />from Agenoy~ the following amounts; <br />For work provided in subparagraph a. of paragraph 2 hereof $ 25.00 <br />For work provided in $ub.•paragraph b, of paragraph 2 hereof ~ <br />Total ~ 2 app "" <br />Sub~eat to ad~uetment on account of variation in the number of emplgyees For whom <br />data are submitted as provided in paragraph 5 hereof, from the number of such em» <br />ployess stated in paragraph 3, and subject to acp- adjustment made on account of <br />abp- unusual situation, or on account of further valuations of different combine-. <br />Lions of benefits and contributions requested by Agency, as hereinbefore provided. <br />A6s~1- agrees that the sum fined in this paragraph ae compensation for the services <br />to be performed by Actuaries, shall cover on]y the calculations and conferences <br />betwt~en the a:ffY.cers sad employees of the Board of Administration and Actuaries, <br />necessary in the performance of the work, excluding conferences between Agency <br />and Actuaries. It is understood and agreed that Agency steal]. deal only through <br />said Board of Administration. <br />Ret. Form lt214-2 (Revs 9/5~t) 2000 <br />