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City of Santa Ana <br />March 25, 2010 <br />Page 6 <br />Appendices <br />Appendix A— Actuarial Assumptions and Methods ............................... .............................10 <br />Appendix B —Summary of Plan Provisions .......................................... .............................14 <br />Appendix C — Summary of Employee Data ........................................ ............................... 16 <br />Appendix D — Glossary of Terminology .............................................. ............................... 18 <br />Once each valuation report is complete we will submit a draft report to you for review. We <br />will discuss the reports with you and incorporate your comments into the final reports. The <br />expected time needed to complete each valuation is four to six weeks after receiving the <br />census data described above. <br />Section 5 – Total All- Inclusive Maximum Price <br />This section outlines the expected cost for this project. As a consulting firm, we charge fees <br />for our services on a time and expense basis so that our clients are assured of receiving <br />maximum value. Buck will perform this project on a time and expense basis, with a limit on <br />our fees to a guaranteed amount. We will charge only for the amount of work actually <br />performed. <br />The total cost is expecndto t- <br />" angfrom$15,000 to $20,000, with a not to exceed cost of <br />$20,000. This includ ace -to -face meetings; the first to discuss the project and the <br />current City benefit plans and the second to present the final reports and discuss the findings <br />of the reports. The expected time needed to complete this project is four to six weeks after <br />receiving the census data described above. <br />Section 6 – Rates by Partner, Supervisory and Staff <br />Detailed estimated costs for this project include approximately 40 hours of programming and <br />valuation data work by an associate level actuary at $250 per hour and 8 hours of director <br />level actuarial peer review and meeting attendance at $450 per hour. Additional Principal <br />consulting input of around 4 hours would be billed at $500 per hour. This gets us to an <br />estimated total cost of $15,600 and under the not to exceed quote of $20,000 if more services <br />are needed. <br />buckconsultants <br />