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R2011-85 AUTHORIZING CITY MANAGER TO HIRE MILLIMAN CONSULTANTS AND ACTUARIES
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R2011-85 AUTHORIZING CITY MANAGER TO HIRE MILLIMAN CONSULTANTS AND ACTUARIES
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9/1/2015 2:17:46 PM
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9/1/2015 2:17:45 PM
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Resolution/Ordinance
Res Ord Num
R2011-85
Res Ord Title
AUTHORIZING CITY MANAGER TO HIRE MILLIMAN CONSULTANTS AND ACTUARIES TO PROVIDE ACTUARIAL SERVICES
Department
Finance
Approved Date
6/6/2011
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Mr. Ronald Neufeld <br /> May 17, 2011 <br /> Page 4 <br /> Consulting Related to Types of Funding Vehicles for Other Post-Employment Benefit <br /> Plans <br /> We can provide consulting advice to help you sort through the various funding options that <br /> will offer the best means for your governmental agency to fund OPEB obligations. <br /> Cost Estimates for Benefit and Assumption Changes <br /> We can provide cost estimates for benefit and assumption changes. Our analysis will include <br /> both the immediate cost implications and long-term effects. <br /> Ten-year Projection of Accounting Costs and Liabilities <br /> Using the results from the actuarial valuations, we are able to project the active employee and <br /> retiree population for the next 10 years using an "open group" projection and perform an <br /> actuarial valuation for each of the next 10 years to determine the accounting costs and liabilities. <br /> Managing Health Care Costs <br /> We can assist with plan renewals on both active and retiree premiums and contributions. Such <br /> assistance can include evaluating past experience, reviewing insurance carrier renewals or <br /> projecting costs on self-funded plans, reviewing stop-loss quotes, suggesting and pricing benefit <br /> plan changes, evaluating alternative PPOs, developing contribution strategies, etc. <br /> If you have any questions about the proposal or need any additional information, please do <br /> not hesitate to call. <br /> Sincerely, <br /> Therese A. Marske ASA EA <br /> Associate Actuary <br /> TAM:tm <br /> MAProposaWity of Decatur-GASB45prop201 Ldoc <br /> Milliman <br />
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