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Proposal to Provide Actuarial Valuation of OPEB Liabilities <br />For the City of Santa Ana <br />May 2016 <br />Bickmore offers the following actuarial services relating to the calculation of OPEB liabilities: <br />June 2016 Actuarial Valuation Report $ 12,315 <br />Results will be presented based on the City's current funding policy for the fiscal years ending June <br />30, 2016 and June 30, 2017. An illustration of pre Funding results will be provided for one year to <br />highlight potential benefits of prefunding. <br />The report will include presentation separately, and in total of both the PEMHCA required "explicit <br />subsidy" liability and the new "implicit subsidy" liability. As requested by the City In the RFP, there <br />will be no results provided with respect to any union Subsidy Plans nor for the POA Benefit Trust. <br />Appendices will include a breakout of liability and annual OPEB expense results for each of 7 sub- <br />groups for fiscal years ending June 30, 2016 and June 30, 2017. <br />The fee above also includes all telephone conferences, as needed, to review the draft report with <br />the City, its auditor and other representatives. One in-person meeting is provided at no additional <br />cost, if requested. <br />This chart provides a summary of the fixed, not -to exceed fee for the services described above: <br />Staff Position <br />2016 Hourly <br />Rates <br />Estimated <br />Hours <br />Fee <br />Actuarial Manager/Director <br />$ 305 <br />16 <br />$ 4,880 <br />Senior Actuarial Analyst <br />165 <br />$ 32 <br />5,280 <br />Actuarial Analyst <br />140 <br />$ 12 <br />1,680 <br />Administrative Support <br />95 <br />5 <br />475 <br />Total Fee for in-sc <br />1 <br />65 <br />$ 12,315 <br />We believe the services described above will meet the City's objectives for this project. We do not <br />anticipate any other work related to the valuation which could result in additional charges, with the <br />possible exception of the following: <br />Optional Services (out of scope) <br />2016 Fees <br />Preliminary total results at alternate discount rates <br />$350 each <br />Actuarial forms required for CERBTfiling (if applicable) <br />$ 750 <br />Additional meetings in person (1 is included above) <br />$850 each <br />Calculations relating to GASB 75 <br />hourly rates <br />Consulting or projections relating to plan redesign <br />hourly rates <br />Bickmore <br />