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HomeMy WebLinkAboutR-89-0229J-89-208 3/3/89 RESOLUTION NO 6 A RESOLUTION AUTHORIZING THE CITY MANAGER To EXECUTE A PROFESSIONAL SERVICES AGREEMENT, IN SUBSTANTIALLY THE FORM ATTACHED HERETO, WITH THE FIRM OF A. FOSTER HIGGINS & CO-o INC., FOR EXPERT ACTUARIAL ASSISTANCE IN PENSION MATTERS AT A COST NOT TO EXCEED $24v000 WITH FUNDS THEREFOR ALLOCATED FROM SPECIAL PROGRAMSrH AND ACCOUNTS. WHEREAS, the City of Miami is concerned about the fiscal stability of it municipal operation; and WHEREAS, State laws require annual actuarial valuation reports; and WHEREAS, the City of Miami must make contributions on an actuarial basis to the pension plans for its employees; and WHEREAS, the firm of A. Foster Higgins & Co., Inc., has expertize in the area of pension and is extremely knowledgeable about the City's pension program; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY j OF MIAMI, FLORIDA: ..... ..... Section 1. The City Manager is hereby authorized to 'Al execute a professional services agreement, in substantially the form attached hereto, with the firm of A. Foster Higgins k Coop ............ Inc. for expert actuarial assistance in pension matters at a cost not to exceed $24,000, with funds therefor allocated from 1 Special Programs and Accounts. ........................... 73 2 ............r� _ rA UUNTAM 61M R Vl� 555 PASSED AND ADOPTED this 3rd days of March 91 AT MAT Y HIRAI, CITY CLERK APPROVED BY: BUDGET REVIEW: MANOHAR SVDIRECTOR DEPT. OF MAMENT & BUDGET PROFESSIONAL SERVICES AGREEMENT This Agreement entered into this day of , 19890 by and between the City of Miami, a municipal corporation of the State of Florida, hereinafter referred to as "CITY" and A. Foster Higgins & Co., Inc. hereinafter referred to as "CONSULTANT". RECITAL: - WHEREAS, THE CITY OF MIAMI, FLORIDA, requires professional -� services, in the nature of actuarial consulting; and WHEREAS, the CONSULTANT has expressed a desire to perform the required actuarial services for,the CITY; and _ WHEREAS, the City Commission authorized the City Manager to negotiate and execute a professional service agreement by Resolution No. NOW,.THEREFORE, in consideration of the promises and the mutual covenants and obligations herein contained, and subject to the terms and conditions hereinafter stated,' the parties hereto '.� understandand agree as follows: ;4 E ;d '� a4JY TERM if F The term of this Agreement shall be from Aril 1,, x..,. j. = through September 30, 1989. SCOPE OF SERVICE The CONSULTANT may provide the following professional :v services as part of this Agreement, as needed; * 1) Assist the City Administration in the 0reparatf�or} .,oft Ey 1 olicies related to the ' r Fi `} ,k C .ty�s pension pans: t ;• (2) Present and explain pension Poloies'` t� they C1 f "` ..Commission. - ivy :r y: ,, � 3 Y' 1t [ ,,. `, : e.r y.,s } �� 5'x, � r �p 1•� � { (" :i3..� ��kf a 3) Prepa64 re special actuarial rQports `i'ox+ both C e �`, • � `, 1 � 22 �Y . f k�w ° ':' t t � z s"„ c `s i" �S -� f ..� �.E"'r� ' ��`.c'�`L �i'4�,�}` °�,. '� ",4"f �r ! " (4) Anal ,r yze and elsin n CtY•.qop;NsiQn. asta�. ,easr.+em'n�a d: NK i' (5) Prepare funding alternatives for the City's pension plans. (6) Assist the City Administration in complying With the y_ requirements of Florida's Public Employees' Retirement Benefits Act.` (7) Keep City Administration informed on Federal and State laws affecting pension plans. (8) Provide expert testimony in litigations related to pensionmatters, including but not limited to s: a. methodology and soundness of pension systems. (9) Other,pension related activities and additional work as y i required,by the City Manager.' — r COMMNSATION (A) The CITY shall pay ,the CONSULTANT, as compensation for,the: services required pursuant to .,Paragraph 2. hereof, , a fee.. not. 4s to . exceed Twenty -Four Thousand , Dollars ($,24 , 000) ' to.. calculated and billed upon a time and expense -basis based:on. ; J , the . CONSULTANT'S standard hourly', rate, schedul", and expen$e }; charges which, at ,this ;date, .are approximately as.'-fgllows: (1) Professional fees - .:.hourly rates , -April 1, 1988 September :30, : 1949.rk :, w Chief actuary Senior consultants/actuaries 140.00 200.00 N. Cons4tants/actuaries: F Junior. Consultants/actuaries,. 71.00 Actuarial associates/senior. F Adminis trative, ,ataff;. �r { . 34�OD, ^ Q;� Computer,.sxstems manager r Statisticians/Clerical 22sOQ �3 �1�r4 (2) "Coq�puter �e pec}ae, charges r -� a 50 of �+.,Qotos , is � ph�!���d�# , w,�,. the nt `a1' Qunt • of hich th g ,�� p w e 0 warg, p 4 ,00y y. unassigned overhead Cost$ assoo atad t th t eomputa'� r� prOGes$ing; efforts relating to generalised sib-►�►eutlha ' �t` k" *: fit 77=777Mr a '1 development and analysis, training, terminal maintenance, record beeping; 'auditing of invoice charges, management, etc. �r (3) Additional expense costs not included in professional-feea r x� {other than computer charges) - 100% of the cost for the x= items listed below are charged directly to the client account without additional margin.- (a) copying/printing (b) postage sy (c) telephone b (d) delivery` Al (e) travel - { (B) Such fee shall be aid upon submission b the CONSULTANT -of �L p P Y 34 monthly billings; such monthly billings shall be-•paid'withii - fifteen05') days of submission' by the CONSULTANT.-` '''Thd` CItY: 'j shall have the right to review and audit the time records' k and related records of the CONSULTANT pertaining to any, suchr-, y F billings. �`>{ (C) Notwithstanding the- above 'rates or the` time and cost''' t _ involved, the CONSULTANT shall be reimbursed for .attending< meetings in Miami at, a cost not to exceed Five Hundred h,.. Twenty Five Dollars ($525.00) for any ­ one meeting. A11 ` i expenses relating to travel shall be approved .in advance by the CITY. S {(D) The CONSULTANT and the CITX hereby agree that the --'max m�pi s3 amount under this contract shall not exceed Twent r payable Four Thousand Dollars ($24, O00) , and that any patty �ma►4��' t _ F immediatel y and at any time terminate thigv ;Agreement then tcosts hereinabove reaches Forty -fight Thousand Dollar's. z u r > '` s�: # 1 ; n ;. -., t _; t":�?" i ira 'C.s ...'�, '�'''{F-t, ��t"„� y/ "•5 �i - %E) City, shall have . the right to review and audit the ,t t.t F l.:� ° 7 4 ) ' t �ar't yi C�- records and related' records of CoNSU LTANZ.pertai in Ai *� "'t�s payment, by th@ czTx. ral Jii{ ' 1 i'hr �yy1k� 1f eYf C��� i i a --...Yy `, L u -: L ■ COMPLIANCE WITH FEDERAL; STATE; AND LOCAL LAWS: Both parties shall comply with all applicable laws#' ordinances,. and codes of Federal, State, and Local- Government. V . GENERAL CONDITION: A. All notices or other communications which shall or may be given pursuant to this Agreement shall be in writing and. shall be delivered by personal service, or by, registered: mail, addressed to the other party at the address indicated !_ herein oras the same may be changed from time* to .time.` ter- Such notice shall , be deemed_ given on the . day '_,cm which: , • personally served; or, if by mail, on the fifth day.'after,. 14� -� being posted or the date of, actual. receipt, -whichever earlier... J kd 2� CITY. OF MIAMI CONSULTANT City :of Miami. A. Foster',:HiggnsF.& Co.,r_Inc, k� 3500 Pan American Drive _125 Broad Street _..--; Nw:Y100.04 MiamiF:brida.. - 33133 ob k�; B. Title and Paragraph headings are for convenient reference 'r<° and -are not part of this Agreement. < Ce In the event of conflict between terms of f this Agreement :an any terms or conditions contained in any attached documents, x the terms in this `Agreement shall rule. . D. No waiver or breach of any provision of this Agreement shall. constitute a waiver of any subsequent breach of the. same or. �r _ any other provision hereof, and no waiver shall be efectiver'� unless made in writing.rt f Should E. anY provision paragraphs, sentences 4 wor�ia pr' _ r , phrases contained tAgreeenbby a qp M xsir of competent, Jurlsdiction to be invalid, otheewiee unenforgeable and 4 er the laws_ of � the Sty G t _,� Florida or the City, of Mimi Such provisions,'para r `t rY�'fh'/Y sentences, words or phrases shall be deemed modified to the extent necessary in order to conform with such laws, or if not modifiable to conform with such laws, then same shall be deemed severable] and in either event, the remaining terms and provisions of this Agreement shall remain unmodified and 7 in full force and effect. f Z. OWNERSHIP OF DOCUNENTS: F All documents developed by CONSULTANT under this Agreement shall be delivered to CITY by said CONSULTANT upon �I f a; completion of the services required pursuant to paragraph II hereof and shall become the property of CITY, without F restriction or limitation on its use. CONSULTANT, agrees that all documents maintained and ,, 4 generated pursuant to this contractual relationship between CITY and CONSULTANT shall i be subject to all provisions of the Public Records Law t: u Chapter 119,;Florida Statutes. rz� It -is-=further-understood. by,and. between the. parties ,that any F -. 'information,writings.. maps,,,;;contract 'documents, reports or " s an other matter whatsoever which is given b y 8 y '.CITY to CONSULTANT pursuant to this Agreement shall at all times` `remain the property of CITY ,and . shall : not be ,.used`:; CONSULTANT for any other purposes' - ,whatsoever with+aut, written :consent of CITY.Ti Y I I .,',x f fi NONDELEGABILITY That the obli ations undertaken b H g y CONSULTANT pursuant to ahis Agreement hall' not be . delegated or. kass3grieQ,o ; ►y other person, of 'firm unless , CITY shall first` q r f i writ n 1=to th erfor�aa ce o II r g 8 'p B _ � , aaai an:e�t of uoh­JVT 9 } �. any part thexeo` by artQthe on , s, ass... �3s xr 7 f iPly,. t i tE�a �. 7 �•N- _— iAlq, f '. j k r ga Y� '}� x�( ,'}kit r t se i x +t 1�5;. ,�45 d S�*",xr�jt • Z. 4 .N F e, a.i . ,.! .. ... .. _ .. . .. - ," n.. ,.:^ .-x, „.. .. .,f{ar. ,?;. '�'Srt.Y.'✓'.K ,iq:.CGl :"FaiT�.G+x i- 1 AttD��'-,tttGtiTS ; x_ CITY reserves the right to audit the records of CONSULTANT z== at any time during the performance of this Agreement and for v a 'period of one year after final payment is made under'thia Agreement. J IX. AWARD OF AGREEMENT CONSULTANT wareants that he/she has not employed or retained ' any person employed by the CITY to solicit or secure this Agreement and that he/she has not offered to pay, paid,�or agreed to a an a pay y person employed by the CITY Any fee commission percentage, brokerage fee or gift of. .; any kind contingent upon or resulting* from the award of'�:this Agreement. 'S X. ti CONSTRUCTION 'OF -AGREEMENT: y 1h. This Agreement' shall be -construed and `enforced according to . `laws'• of the State o the f Florida. SUCCESSORS AND 'ASSIGN; —► This Agreement shall be '"binding `•upon -the 'parties ':`herein f their heirs;``exe'cutorat- legal representative$, suecessflrs� L -Gi and assigns.. r �z xII ,T INDEMNIFICATION: k Ry` CONSULTANT shall indemnify and '-save% C1TY harMless 'from ,and Yy y —� against any and a lI s claims, liabilities; losses,'' and`'e�aui�sers 3 #`. n` �whc pf , of Betio h `many arise out £1. CONS(tvn:NT* s k�CtY tift4 r �# k� E under. thin Agreement nclud Bt' {tber `a " ° " < �� y $'�� iCl $11" O C�� �r� °gRq�111�9Q�S##M���� r � h i o act . on the part' #of CONSULVANT, e1.467 X�udin- optifo ng orr on tale/tier behal r �� and, re, asa m orex ders' ud ent 5 {_ in arts or dec ykse ta+a, z`�x`t wh��sh= .• x,' s n.?� �� �xtrrr os and ainst q1 /�a }#e /� a 4MV VN,y va7FMir— x'8biitie'F spurred in thy' d f �Tf- e - n the` in1►st ,at x��� iQthereof. ` n r c t j �w sL 'ix1§al 5 XIII. CONPLICT_OF INTEREST: A. CONSULTANT covenants that no person under its employ'who presently exercises any functions or responsibilities ft connection with this Agreement has any personal financial interest; direct or indirect with CITY. CONSULTANT further covenants that, in the performance of this Agreement; no person having such conflicting interest shall be employed. Any such interests on the part of CONSULTANT or its employees, must be disclosed in writing to CITY. a B. CONSULTANT is aware of the conflict of interest laws of the i City of Miami (City of Miami Code Chapter 2,' Article V), Dade, County Florida (Dade County Code Section 21"11.1) and =I 4 the State of Florida' and agrees that it shall fully .comply ` I in all respects with the terms of said laws. — 1 'XIV. _ INDEPENDENT CONTRACTOR: s. 4ry CONSULTANT ;and its employees "and agents- shall be .deemed to y be independent contractors,. and not agents or employees of -,,.CITY- andshall not attain any rights or benefits under, the `,- Civil.., Service,; -or Pension.,. Ordinances.-:ofr. CITY.;:,or.;any,�rigbts enerall afforded : olassified . or.;unelassified,,: em lodeayr g y.., P Y — further ,he/she shall- not. be deemed •entitled to the Florida ' W . 1 Workers' Compensation benefits as:an"employee. of CITY. XV -, — rr TERMINATION OF CONTRACT: >y { CITY retains the right to terminate this Agreement' at any,: f= r time pr:ior.: too., the:,,- oomplotion,of the : ser 1Pv0 �4requ t*ed x pursu,nt _.to" paragraph:: IT :her.eof..with"out' :penalty: to....CITY.•is:r f that- vent '. notidg ; of eterpninat on Qf ,.tk�i$ Agree pp.z a sh�l�:�;�e r in, • , 69 to CONSULTANT, ;;=whc�� r. � shs11 - bei re paid fox 1J x-p s ex+yPerform�ed i t scee °tpr' ` Q;�.rtet :,da►te : h.8(hf�xeC�t ;gin 4` ho iQe.,� o .ter�C4 n t on . ,5 . :.xn no;� ode , hoxevjoe w ll�� r� , � G4NSiGA�1T,; a 4 nt e{wB a of ,tt�,ot81 a RMy��)®�,y;{ � ��00� kY,le R k'•'" r `"tt'�� 4�+,,,. 't}I. R��r'!!:'i's�k Y-!fir S } * q,$ ' ,p•F A.- 3 #f�V'kE'%.,'uNh ii xx". T7� 4x.' ���"�},M,, eTrtr. } } ,• i r < tK-v Tllr 1 f 45 P^, w i It is hereby understood by and between CITY and CONSULTANT that any payment made in accordance with this Section to CONSULTANT shall be made only if said CONSULTANT is not in ;s default. If said CONSULTANT is in default then CITY shall — in no way be obligated and shall not pay to CONSULTANT any t sum whatsoever. XVI. f NONDISCRIMINATION: CONSULTANT agrees that it shall not discriminate as to race, sex, color, creed, or national origin or handicap in connection with his/her performance under this Agreement. 3 XVII. '1 ` MINORITY PROCUREMENT COMPLIANCE ' CONSULTANT acknowledges that he/she has been furni-shed,`a M - 1 copy of- Ordinance No. 10062, the Minority. Procurement, } Ordinance of the City of Miami, and"<agrees''to� comply with all applicable substantive and procedural provisions' _ s4 ff i therein, including any amendments therreto.`' ' #` XVIII.AW _ 1 -j. CONTINGENCY.:CLAUSE: .0 Funding for this Agreement is contingent on the'"availability; E 5 of funds and continued authorization''for program aativitiesy j; and is subject to amendment or termination' due to lack:4f.r� funds, or authorisation, reduction .of. funds,,.-.and/'or chg� in regulations. 3. XIX. �H { y DEFAULT PROVISION. In ,the eYent:'.,t.he. CONSULTANT, shall fail to comply with ,each s and every► term 'and condition of this Agreement. or fails Performany ` of the terms and conditions contained ?'4 sole option, _ peon,,writt�an note ¢e `�l a , CONSULTANT may cancel and: terminate ,this Agreement #: `epd. �K�{a - f ° ` paymente,1 ` a�vanes, or, other'opa #j��M1�% {{ ` ., 0a . , by ..CITY. while C,0NSU4TANT' was in, de#'sui -' - here n contained.: :forthwith retur ertd tip ,UIT ro _ XX . ENTIRE AGREEMENT: :;. This instrument and its attachments constitute the sole and only Agreement of the parties hereto relating to said grant `. and correctly sets forth the rights; duties, and obligations` of each to the other as of its date. Any prior agreements' CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO Honorable Mayor and Members DATE :t t�89 FILE : of The City Commission FEB SUBJECT : Resolution Authorizing City Manager to Negotiate Professional REFERENCES :Services Agreement FROM: Cesar H. Odio With A. Foster Higgins. City Manager ENCLOSURES :& Co. , Inc.