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HomeMy WebLinkAboutR-86-0020J-85-1140 i ' RESOLUTION NO. SG-20 A RESOLUTION AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A PROFESSIONAL SERVICES AGREEMENT, IN SUBSTANTIALLY THE FORM ATTACHED HERETO, WITH THE FIRM OF E. H. FRIEND & COMPANY, FOR EXPERT ACTUARIAL ASSISTANCE IN PENSION MATTERS AT A COST NOT TO EXCEED $48,000 WITH FUNDS THEREFOR ALLOCATED FROM SPECIAL PROGRAMS 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, E. H. Friend & Company is an expert 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 OF MIAMI, FLORIDA: Section 1. The City Manager is Hereby authorized to negotiate and execute a professional services agreement, in substantially the form attached hereto, with the firm of E. H. Friend & Company, for expert actuarial assistance in pension matters at a cost not to exceed $48,000, with funds therefor allocated from Special Programs and Account. j PASSED A14D ADOPTED this 9th day of JANUARY , 1986. G'wt�tGti X VIER SUTZ M A Y 0 ATTEST: MA4TY HIRAI, CITY CLERK APPROVED BY: ROBERT F. CLARK DEPUTY CITY ATTORNEY APPROVED AS 3,0'FORM AND CORRECTNESS: LUCIA A. DOUGARTY, CITY ATTORNEY CITY COMMISSION MEETING OF JAN 9 1986 ON No. S -20 3 i l ' I i PROFESSIONAL SERVICES AGREEMENT This Agreement entered into this day of , 198 , by and between the City of Miami, a municipal corporation of Dade County, Florida, hereinafter referred to as "CITY" and Edward H. Friend & Co., hereinafter referred to as "CONSULTANT". WITNESSETH: 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 understand and agree as follows: TERM The term of this Agreement shall be from October 1, 1985 through September 30, 1986. II . SCOPE OF SERVICES The CONSULTANT will provide the following professional services as part of this Agreement: (1) Assist the City Administration in the preparation of policies related to the City's pension plans. (2) Present and explain pension policies to the City Commission. (3) Prepare special actuarial reports for both City pension plans. (4) Analyze and explain to the City Administration and the City Commission actuarial requirements as proposed by both pension plans. 8E-20 a S 9 PROFESSIONAL SERVICES AGREEMENT This Agreement entered into this day of , 198 , by and between the City of Miami, a municipal corporation of Dade ferred to as "CITY" and Edward H. County, Florida, hereinafter re Friend & Co., hereinafter referred to as "CONSULTANT". WITNESSETH: 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 understand and agree as follows: I. TERM The term of this Agreement shall be from October 1, 1985 through September 30, 1986• II. SCOPE OF SERVICES The CONSULTANT will provide the following professional services as part of this Agreement: (1) Assist the City Administration in the preparation of policies related to the City's pension plans. (2) Present and explain pension policies to the City n` Commission. (3) Prepare special actuarial reports for both City pension plans. f? i j (4) Analyze and explain to the City Administration and the i City Commission actuarial requirements as proposed by both pension plans. iA V V-2V (5) Prepare funding aiLerna61 — •-. plans. (6) Assist the City Administration in complying with the 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 pension matters, including but h11 bt limited to methodology and soundness of pension systems. (9) Other pension related activities and additional work as required by the City Manager. COMPENSATION (A); The CITY shall pay the CONSULTANT, as compensation for the services required pursuant to Paragraph 2 hereof, a fee not to exceed Forty -Eight Thousand Dollars ($481000)9 to be calculated and billed upon a time and expense basis based on the CONSULTANT'S standard hourly rate schedules and expense charges which, at this date, are approximately as follows: (1) Professional fees - hourly rates October 1, 1984 - September 30, 1985 Chief actuary $ 252.00 Senior consultants/actuaries 140.00 - 200.00 Consultants/actuaries 106.00 - 139.00 Junior consultants/actuaries 71 .00 - 105.00 Actuarial associates/senior administrative staff 34.00 - 70.00 Computer systems manager 85.00 - 135.00 Statisticians/Clerical 22.00 - 33.00 - 2 - 86- 20 (2) Computer expense charges - 150% of costs is charged directly to the client account; of which the 50% margin covers unassigned overhead costs associated with computer processing; efforts relating to generalized sub -routine development and analysis, training, terminal maintenance, record keeping, auditing of invoice charges, management, etc. (3) Additional expense costs not included in professional fees (other than computer charges) - 100% of the cost for the items listed below are charged directly to the client account without additional margin. (a) copying/printing (b) postage (a) telephone (d) delivery (e) travel (B) Such fee shall be paid upon submission by the CONSULTANT of monthly billings; such monthly billings shall be paid within fifteen (15) days of submission by the CONSULTANT. The CITY shall have the right to review and audit the time records and related records of the CONSULTANT pertaining to any such billings. (C) Notwithstanding the above rates or the time and cost involved, the CONSULTANT shall be reimbursed for attending meetings in Miami at a cost not to exceed Five Hundred & Twenty Five Dollars ($525.00) for any one meeting. All expenses relating to travel shall be approved in advance by the CITY. (D) The CONSULTANT and the CITY hereby agree that the maximum amount payable under this contract shall not exceed Forty - Eight Thousand Dollars ($48,000,) and that any party may immediately and at any time terminate this Agreement when the costs hereinabove reaches Forty -Eight Thousand Dollars. - 3 - SG--2C IV. COMPLIANCE WITH FEDERAL STATE AND LOCAL LAWS: Both parties shall comply with all applicable laws, ordin- ances, 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 or as the same may be changed from time to time. Such notice shall be deemed given on the day on which personally served; or, if by mail, on the fifth day after being posted or the date of actual receipt, whichever is earlier. CITY OF MIAMI CONSULTANT City of Miami Edward H. Friend & Company 3500 Pan American Drive 1800 K. Street, N. W. Miami, Florida 33133 Suite 500 Washington, D. C. 20006 B. Title and Paragraph headings are for convenient reference and are not part of this Agreement. C. In the event of conflict between terms of this Agreement and any terms or conditions contained in any attached documents, 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 any other provision"hereof, and no waiver shall be effective unless made in writing. SE-2G - 4 - OWNERSHIP OF DOCUMENTS: All documents developed by CONSULTANT under this Agreement shall be delivered to CITY by said CONSULTANT upon completion of the services required pursuant to paragraph II hereof and shall become the property of CITY, without restriction or limitation on its use. CONSULTANT agrees that all documents maintained and generated pursuant to this contractual relationship between CITY and CONSULTANT shall be subject to all provisions of the Public Records Law, Chapter 119, Florida Statutes. It is further understood by and between the parties that any information, writings, maps, contract documents, reports or any other matter whatsoever which is given by CITY to CONSULTANT pursuant to this Agreement shall at all times remain the property of CITY and shall not be used by CONSULTANT for any other purposes whatsoever without the written consent of CITY. VII. NONDE_LEGABILITY That the obligations undertaken by CONSULTANT pursuant to this Agreement shall not be delegated or assigned to any other person or firm unless CITY shall first consent in writing to the performance or assignment of such service or any part thereof by another person or firm. Vim. AUDIT RIGHTS CITY reserves the right to audit the records of CONSULTANT at any time during the performance of this Agreement and for a period of one year after final payment is made under this Agreement. - 5 - 86--20 =, P I ' I IX. AWARD OF AGREEMENT CONSULTANT warrants 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 pay any 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. X. CONSTRUCTION OF AGREEMENT: This Agreement shall be construed and enforced according to the laws of the State of Florida. XI. SUCCESSORS AND ASSIGN: This Agreement shall be binding upon the parties herein, their heirs, executors, legal representatives, successors, and assigns. XII. INDEMNIFICATION: CONSULTANT shall indemnify and save CITY harmless from and against any and all claims, liabilities, losses, and causes of action which may arise out of CONSULTANT's activities under this Agreement, including all other acts or omissions to act _ on the part of CONSULTANT, including any person acting for or on his/her behalf, and, from and against any orders, judgments, or decrees which may be entered and from and against all costs, attorney's fees, expenses and liabilities incurred in the defense of any such claims, or in the z investigation thereof. f lh- ..' 1 8 V-2 V i XIII. CONFLICT OF INTEREST: CONSULTANT is aware of the conflict of interest laws of the City of Miami (City of Miami Code Chapter 29 Article V), Dade County Florida (Dade County Code Section 2-11.1), and the State of Florida, and agrees that he/she will fully comply in all respects with the terms of said laws. XIV. INDEPENDENT CONTRACTOR: CONSULTANT and his/her employees and agents shall be deemed to be independent contractors, and not agents or employees of CITY, and shall not attain any rights or benefits under the Civil Service or Pension Ordinances of CITY, or any rights generally afforded classified or unclassified employees; further he/she shall not be deemed entitled to the Florida Workers' Compensation benefits as an employee of CITY. XV. TERMINATION OF CONTRACT CITY retains the right to terminate this Agreement at any time prior to the completion of the services required pursuant to paragraph II hereof without penalty to CITY. In that event, notice of termination of this Agreement shall be in writing to CONSULTANT, who shall be paid for those services performed prior to the date of his/her receipt of notice of termination. In no case, however, will CITY pay CONSULTANT an amount in excess of the total sum provided by this Agreement. It is hereby understood by and between CITY and CONSULTANT that any payment made in accoraance wivn toll, -- --- CONSULTANT shall be made only if said CONSULTANT is not in default- If said CONSULTANT is in default then CITY shall in no way be obligated and shall not pay to CONSULTANT any sum whatsoever. - 7 - 86-20 NONDISCIRMINATION: CONSULTANT agrees that he/she shall not discriminate as to race, sex, color, creed, or national origin in connection with his/her performance under this Agreement. XVII. MINORITY PROCUREMENT COMPLIANCE CONSULTANT acknowledges that he/she has been furnished a copy of Ordinance No. 9775, the Minority Procurement Ordinance of the City of Miami, and agrees to comply with all applicable substantive and procedural provisions therein, including any amendments thereto. XVIII. CONTINGENCY CLAUSE: Funding for this Agreement is contingent on the availability of funds and continued authorization for program activities and is subject to amendment or termination due to lack of funds, or authorization, reduction of funds, and/or change in regulations. XIX. DEFAULT PROVISION: In the event that CONSULTANT shall fail to comply with each and every term and condition of this Agreement or fails to perform any of the terms and conditions contained herein, then CITY, at its sole option, upon written notice to CONSULTANT may cancel and terminate this Agreement, and all payments, advances, or other compensation paid to CONSULTANT by CITY while CONSULTANT was in default of the provisions herein contained, shall be forthwith returned to CITY. XX . AMENDMENTS: No amendments to this Agreement shall be binding on either r., party unless in writing and signed by both parties. 1 IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by the respective of thereunto , this the day and year first above written. duly authorized ATTEST: MATTIE HIRAI, CITY CLERK ATTEST: CORPORATE SECRETARY CITY OF MIAMI, a municipal corporation of the State of Florida By: CITY MANAGER CONSULTANT: EDWARDCH. FRIEND AN By: Title (Seal) APPROVED AS TO INSURANCE REQUIREMENTS: DEPARTMENT OF FINANCE, RISK MANAGEMENT DIVISION APPROVED AS TO FORM AND CORRECTNESS: LUCIA A. DOUGHERTY, CITY ATTORNEY 8E-2C - 9 - 25 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM Honorable Mayor and Members of DATE: JAN L 1986 FILE: TO the City Commission SUBJECT: Professional Services Agreement -Expert Actuarial Assistance in Pension Matters FROM: Cesar H. Odio REFERENCES: City Manager ENCLOSURES: It is recommended that the attached resolution authorizing the City Manager to negotiate and execute a contract with the firm of Edward H.Friend & Company for expert actuarial assistance in pension matters sfat a cost not to exceed $489000, with therefor allocated from Special Programs and Accounts be adopted by the City Commission. The firm of E. H. Friend & Company has assisted the City in past years in the preparation of the Pension Valuation reports. These reports determine the City contribution to the Pension Trusts and present other actuarial information settledt1GatesegCased by and otherthe Strelated ate of Florida. The pension matters require the services of an actuarial firm. It is necessary tofthis thetime 1986 Pensionenter into a contract Valuation Report,in order to begin preparation Funds have been appropriated for this purpose under Special Programs and Accounts for this purpose. CEG:hb cc: Law Department { SG-2C