Agmt11 Bartel Associates, LLC - Laserfiche WebLink

Browse Search

Mr. Brian Ponty January 13, 2011 Page 2 • Participant census data requested will be provided completely and accurately in an Excel spreadsheet with one record per participant. • Costs and liabilities will be provided using one funding method and one set of assumptions. We will, however, include the effect of changing the Ca1PERS demographic assumptions to those based on the new Ca1PERS 1997 -2007 experience study. • All plan and financial information requested will be provided and is internally consistent. • We will calculate the Actuarial Value of Assets and estimate the components of the Actuarial Accrued Liability gain or loss since the last actuarial valuation. • GASB 45 costs and liabilities will be presented for the plan as a whole with breakdowns for 7 employee groups: SEIU, RCMEA, Executive Management, City Council, POA, PSA, and IAFF. • We will have one meeting with the City to review the valuation results and will provide a preliminary valuation results discussion outline for the meeting. The discussion outline will summarize the plan provisions, census data, actuarial methods and assumptions, and the valuation results. • We will provide the actuarial certification, funding policy certification, and Excel valuation information spreadsheet required by Ca1PERS for CERBT funding along with a certified final results discussion outline. • There will be no additional charges for expenses (e.g., travel, telephone, copying, etc.). The hourly rates listed above include our costs for these items. • We will invoice the City monthly based on time incurred, subject to the above maximum fees. Please note that our fee estimate will be higher if: • The City has changed its retiree healthcare plan design since the June 30, 2008 actuarial valuation. (If the City has made any changes to the retiree healthcare plan design since the June 30, 2008 valuation, it should provide us those changes so we can revise our fee estimate, if necessary.) • Participant census data is not complete, accurate, and free from internal inconsistencies or is not provided in an Excel spreadsheet with one record per participant. • Plan and financial information is not provided as requested or is not complete and internally consistent. • Results are needed for additional assumptions, funding methods, contribution policies, or alternative plan designs. • Results are needed separately for additional employee groups. • The City requests additional meetings. We will base our fee for additional meetings on our billing rates and the time needed for the meetings and preparation. For example, a 2 -hour meeting where we can use our discussion outline with no additional preparation would cost about $500. • The City requests an executive summary or a draft financial statement footnote. We estimate that our fees would be $1,500 for an executive summary and $500 for a draft financial statement footnote. Data Requirements In order for us to begin the GASB 45 study, please provide: • Summary of plan provisions and copies of the most recent MOUs for bargained employee groups and agreements for unrepresented groups, including any changes since the June 30, 2008 actuarial valuation. • Total pay -as- you -go cost for 2009/10 and an estimate for the current fiscal year ending June 30, 2011. • The City's last monthly Ca1PERS health premium invoice for actives and retirees, with individual participant premiums and employer contributions. Please remove any Social Security numbers. • Plan asset information: • rnuin • fax: • web. , .