25C - RENEWAL TO ACTUALRIAL VALUATION SRVCS FOR OPEB AGMT WITH BICKMORE

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• Professional Service Fees for This Project July 2017 Actuarial Valuation Report and GASB 75 results for FYE 2018: $11,800 GASB 75 compliant results will be presented based on a Measurement Date of July 1, 2017 for the fiscal year ending June 30, 2018. Exhibits will provide information separately and in total for the explicit and implicit subsidy OPER liability for active and retired employees. The fee above also includes and all telephone conferences, as needed, to review report results with the City. Results will be presented separately for 6 groups. Results will not he provided for the POA Benefit Trust (see Out -Of -Scope Services). GASB 75 information for FYE 2019 (measured as of July 1, 2018): $ 2,700 The July 2017 valuation results will be applied, discount rate reviewed and/or updated as needed, and the current value of OPEB trust assets reflected as of each Measurement Date to develop the information required for GASB 75 financial reporting purposes for each fiscal year end. Results will be presented separately for 6 groups. The "not -to -exceed" fees for the services described for the two years above are summarized here: Staff Position 2017 Hourly Rates Estimated Hours Fee for FYE 2018 GA5875 2018 Hourly Rates Estimated Hours Fee for FYE 2019 GASS 75 Actuarial Manager/Director $ _310 15 $ 4,650 $ 325 4 $ 1,300 5enlorActuarialAnalyst 185 16 2,960 195. 3 585 Actuarial Analyst 140 26 3,640 145 4.5 653 Administrative Support 95 5.8 550 100 1.6 162 Total Fee for in -scope services' 62.8 $ 11,800 13.1 $ 2,700 *These not to exceed fees exclude items specifically described in Optional Services and Out -Of -Scope Services Optional Services: Preliminary total results at alternate discount rates $350 each Actuarial forms required for CENT filing (if applicable) $ 750 Additional meetings in person (1 is included above) $900 each Out -of -Scope Services: We do not anticipate any out -of -scope work related to the valuation which could result in additional charges, with the possible exception of the following: • Data: The basic fee above includes 16 hours for analysis and organization of employee and plan data to prepare it for our actuarial coding. If additional time is needed before we can begin our valuation, we reserve the right to charge for this time at the hourly rates shown below, • If benefits or eligibility are significantly different than described to us for this proposal. • Development of prior period results under GASB 75. • OPEB liability calculations relating to the POA Benefit Trust. • Consulting or actuarial projections relating to possible plan redesign or "experience studies". Should they be needed, our 2017 hourly rates are: Consultant 2017 Hourly Rates Senior Actuarial Staff $285-330 Actuarial Analysts 145-185 Adminsitrative Staff 95 25C-9