Agmt_1958_November 17_Coates, Herfurth & England Actuaries

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,Y : ' •~ a 3. It is assumed that the employees of the Agency are of 3 member classifications and that there will be included in the valuation 537 persons who are members or who are receiving retirement allowances because of service rendered to Agency. ~+. Should Actuaries encounter in the valuation any unusual situation or should they be requested to make further valuations of different combinations of benefits and contributions, which might require an additional expenditure of time, said situa- tion and request shall be brought to the attention of said Board of Administration for further consideration. It is understood -that the time expended in connection with said unusual situation and further valuation, is not included within the fee stated herein. 5. Agency and Actuaries understand than said Board of Administration will furnish to Actuaries, the data relative to persons who are members of said- Retirement System with credit for service rendered as employees of Agency, necessary for performance of the work descrived in paragraph 2. Berth parties also understand that said Board of Administration will make available to Actuaries, various tables and schedules of rates based on tree experience under said Retirement System among mem- bers thereof, as determined in current and previous investigations and valuations. Both parties understand, further, treat in accordance with said Retirement Law, the work to be performed by Actuaries shall be performed under the direction of the Actuary of the Retirement System, and that all data in connection with said work, including yaork sheets, final results, and reports from Actuaries, shall be the property of the Bard of Administration and shall be delivered to said Board at the conclusion of said work. 6. For the full performance and completion of said services, Actuaries shall receive from A~~ency, the following amounts: For work provided in subparagraph s. of paragraph 2 hereof ~ 420.35 For work provided in subparagraph b. of paragraph 2 hereof ~ 130.55 Total $~jj b.~-- Subject to adjustment on account of variation in the number of employees for whom data are submitted as provided in paragraph 5 hereof, from the number of such em- ployees stated in paragraph 3, and subject to any adjustment made on account of any unusual situation, or on account of further valuations of different combina- tions of benefits and contributions requested by Agency, as hereinbefore provided. Agency agrees that the sum fixed in this paragraph as compensation for the services to be performed by Actuaries, shall cover only the calculations and conferences between the officers and employees of the Board. of Administration and. Actuaries, necessary in the performance of the work, excluding conferences between Agency and Actuaries. It is understood and agreed that Agency shall deal only through said Board of Administration. 7. Actuaries hereby agree to render the services herein provided for and to complete the same in a satisfactory and expeditious manner. Actuaries shall furnish to the Board of Administration, in addition to data provided herein to be furnished, a written summar,r in duplicate on the Retirement System's form, of the results of the calculations made under this agreement and the compensation provided for here- in shall be payable by Agency when such summary is delivered to the Board of Administration. Ret. Form 42~,-2 (Rev. 958) 2500