HomeMy WebLinkAboutR-87-08924-3 i G - 8 61
9/23/87
RESOLUTION NO, 87r892,
A RESOLUTION AUTHORIZING THE CITY MANAGER TO THE
ENGAGE THE FIRM OF TOWERS, PERRIN, FORSTER &
CROSBY, FOR ACTUARIAL ASSISTANCE IN PENSION MATTERS
AT A COST NOT TO EXCEED $15,000, WITH FUNDS
THEREFOR ALLOCATED FROM SPECIAL PROGRAMS AND
ACCOUNTS.
WHEREAS, a Final Judgment was entered on May 23, 1985 by
the Circuit Court of the 11th Judicial Circuit in and for Dade
County, Florida for Resolution of the Gates Case (the
"Agreement"); and
WHEREAS, the Agreement provides a mechanism to select an
actuary to resolve differences between the City' s pension actuary
and the Pension Trusts' actuaries; and
WHEREAS, the City's actuary, Johnson & Higgins, and the
actuary for the City of Miami Fire Fighters' and Police Officers'
Retirement Trust, Stanley Holcombe & Associates, have jointly
selected the actuarial firm of Towers, Perrin, Forster & Crosby
as a third actuary to resolve outstanding differences between
them as to the pension normal cost contribution for the City;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to
engage the firm of Towers, Perrin, Forster & Crosby for
actuarial assistance in pension matters.
Section 2. The expenditure of additional funds for the
aforesaid services is hereby approved in the amount not to exceed
$15,000 from Special Programs and Accounts, unless further
expressly authorized by the City Commission.
PASSED AND ADOPTED this 22nd day of tober , 19 ,
ATT T XAVIER L. UAREZ
M A Y 0 R
MATTY HIRAI, CITY CLERK
CITY COMMISSION
MEETING OF'
OCT 22 1987
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APPROVED AND PREPARED BY:
ROBERT F. CLARK
CHIEF DEPUTY CITY ATTORNEY
APPROVEDJ1 TO FORM
AND C00 CTNESS:
Or A. DOUGHERTY
CITY ATTORNEY
BUDGET REVIEW:
MANONA SURANA, DIRECTOR
MANAGEM & BUDGET DEPT.
FINANCE REVIEW:
u2SA
CA L S E. GARCIA, DIRECTOR
DEPAR ENT OF FINANCE
-2-
CITY QF MIAMI. FLORIOA
INTEROFFICE MEMORANCIUM
TO. Honorable Mayor and flembers
of the City Commission
DATE: OCT 1 31987 PLf°
SUBJECT Agenda Item for Meeting
of October 22, 1987
FROM: REFERENCESrApproval of Agreement for
Cesar H. Odio(VV Professional Services of
City Manager ENCLOSURESActuarlal Firm of Towers,
Perrin, Forster & Crosby
Recommendation:
It is respectfully requested that the attached Resolution
authorizing the City Manager to engage the firm of Towers,
Perrin, Forster b Crosby, for actuarial services in pension
matters, be adopted.
Background:
A Final Judgment was entered on May 23, 1985 by the Circuit Court
of the lath Judicial Circuit in and for Dade County, Florida for
Resolution of the Gates Case (the "Agreement"). The Agreement
provides a mechanism to select an actuary to resolve differences
between the City's pension actuary and the Pension Trusts'
actuaries.
The Ci ty' s actuary, Johnson & Higgins; and the actuary for the
City of Miami Fire Fighters' and Police Officers' Retirement
Trust, Stanley Holcombe & Associates, have jointly selected the
actuarial firm of Towers, Perrin, Forster & Crosby, as a third
actuary to resolve outstanding differences between them as to the
pension normal cost contribution for the City, at a fee not to
exceed $15,000, to be paid from Special Programs and Accounts.
cc: Law Department
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