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City of Santa Ana -2- <br />December 13, 1965 <br />should be returned in a group to this office. The first phase of our work <br />will be to compote the member contributions that will be required in each <br />case if the member finally elects in favor of crediting the service indicated. <br />An actuarial valuation would then be conducted in order to estimate the <br />cost to the Agency for adding this provision. Our actuarial report will be <br />accompanied by a list of the employees involved showing; the additional sere - <br />ice credit which they might receive, our computation of the member contribu- <br />tion required, and the increased monthly retirement benefit (for age 65 <br />retirement) which *,could result. Once ,your agency's cost is established <br />the City Council of the City of Santa Ana could adopt the necessary contract <br />amendment. our fee for the valuation will be based entirely on the time <br />required of our staff to make the necessary computations. We do not expect <br />that the fee w:•..11 exceed :$5.00 per employee valued. <br />We are enclosing actuarial contracts for this purpose (Form 424--A 5i . <br />These are to be completed and returned to us in triplicate. A fourth copy <br />is enclosed for your file. When the contract has been executed a d approved <br />by ozr Executive Officer, one copy will be returned for your files. <br />Yo%urs truly, <br />THol'LxS F. CROCKiia <br />ASSISTAIT ACTUAPY <br />I C:er <br />encls. <br />FAT 2/13/66 <br />b <br />