Laserfiche WebLink
, 4 <br /> FINANCIAL MANAGEMENT DEPARTMENT <br /> #2008- 100 <br /> DATE: November 12, 2008 <br /> TO: Honorable Mayor Michael T. Carrigan and City Council <br /> FROM: Ryan P. McCrady, City Manager��� <br /> Ron Neufeld, Finance Director <br /> SUBJECT: Actuarial Valuation of Police an Fire Pension Funds <br /> SUMMARY RECOMMENDATION: <br /> It is recommended by staff that the City Council approve the attached resolution, which <br /> authorizes Milliman Consultants and Actuaries to provide consulting services related to <br /> the actuarial valuation of Police and Fire Pension Funds. The fixed fee for their services <br /> is $16,400. <br /> BACKGROUND: <br /> Milliman Consultants and Actuaries have been providing Police and Fire Pension Fund <br /> actuarial services for many years. It was determined this year that the City Council has <br /> never approved the contract for these consulting services. Much of the work for this year <br /> has already been completed, so it will not be possible to do an RFP for these services this <br /> year. This year they have agreed to provide these services for $16,400, which is a 4.6% <br /> increase over the amount they were paid last year. We would ask that the City Council <br /> approve the attached resolution to authorize the payment for services provided. <br /> POTENTIAL OBJECTION: There are no known objections to this <br /> resolution. <br /> INPUT FROM OTHER SOURCES: Therese Marske, Milliman Consultants and <br /> Actuaries <br /> STAFF REFERENCES: Ron Neufeld, Finance Director-450-2226 <br /> BUDGET/TIME IMPLICATIONS: <br /> Money for these services is included in the Non-Departmental budget. <br />