HomeMy WebLinkAboutR-84-1452RESOLUTION NO. 194-1459
J-85-68
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
' NEGOTIATE EXECUTE A PROFESSIONAL SERVICES AGREE-
MENT, 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 $509000 WITH FUNDS
THEREFORE ALLOCATED FROM SPECIAL PROGRAMS AND
ACCOUNTS, CONTINGENT FUND.
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f: WHEREAS, the City of Miami is concerned about the fiscal
7` stability of it municipal operation; and
WHEREAS, recent state and federal laws have made pension
funding and administration more complex and demanding; and
WHEREAS, E. H. Friend & Company is an expert in the area of
pension and is extremely knowledgeable about the City's pension
i program:
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NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI$ FLORIDA:
Section 1. The City Manager is hereby authorized to
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negotiate and execute a professional services agreement, in
C 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 $50,000, with funds therefore
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hereby allocated from Special Programs b Accounts Contingent Fund.
r PASSED AND ADOPTED this 13th day of December. 1984.
T
Maurice A. Ferre
y
a
M A Y 0 R
EST:
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- RALPR G. ,
APPROVED BY:
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DEPUTY CITY ATTORNEY
APPROVED AS TO� FORM AND CORRECTNESS:
0 V%#WQ .nI 1,
CITY COMMISSION
MEETING OF
DEC 13 1984
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RKS84~'� f34
PROFESSIONAL SERVICES AGREEMENT
This agreement entered into as of the 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 A Co., 1800 K Street, N. W.,
Washington, D. C., 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 requirea 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, THE CITY AND CONSULTANT agree as follows:
1. TERM
This Agreement SHALL COMMENCE ON OCTOBER 19 1984, for
the purpose of providing actuarial service to the CITY for the
fiscal year ending September 30, 1985, and shall terminate on
September 30, 1985.
2. BASIC SERVICES
The CONSULTANT shall 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.
(5) Prepare funding alternatives for the City's
pension plans.
84-14s2
(6) Assist the City Administration in complying with the
requirements of Florida's Public Empl.oyees'
Retirement Benefits Act.
c.
(7)
Keep City Administration informed on Federal and
State laws affecting g pension plans.
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(8)
Provide expert testimony in litigations related to
pension matters, including but not limited to
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methodology and soundness of pension systems.
(9)
Other pension related activities and additional work
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as required by the City Manager.
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3. COMPENSATION
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(a)
The CITY shall pay the CONSULTANT, as compensation
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for the services required pursuant to Paragraph 2
hereof, a fee up to Fifty -Thousand Dollars ($50,000)
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:
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(1)
Professional fees - hourly rates
October 1, 1984 - September 30, 1985
Chief actuary $ 252.00
Senior consultants/actuaries 135.00 - 179.00
Consultants/actuaries 102.00 - 134.00
Junior consultants/actuaries 68.00 - 101.00
Actuarial associates/senior
4P administrative staff 33.00 - 67,00
Computer systems manager 82.00 - 130.00
(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.,
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(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
( c )
telephone
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(d)
delivery
4,
( 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.
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The
CITY shall
have the right to
review and audit the
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time
records and
related records
of the CONSULTANT per
taining 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 ex-
ceed 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 Fifty -Thousand Dollars ($50,000) and that
any party may immediately and at any time terminate
this agreement when the costs hereinabove reaches
Fifty -Thousand Dollars.
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4. TERMINATION OF CONTRACT
The CITY retains the right to terminate this
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Agreement at any time prior to the completion of the
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`- WORK without penalty to the CITY. In that event,
notice of termination of this Agreement shall be in
writing to the CONSULTANT who shall be paid for all
WORK performed prior to the date of his receipt of the
notice of termination. Basis for payment shall be as
set out above. In no case, however, will the CITY pay
the CONSULTANT an amount in excess of the total sum
provided by this Agreement.
It is hereby understood by and between the CITY
and the CONSULTANT that any payment made in accordance
with this Section to the CONSULTANT shall be made only
if said CONSULTANT is in default under the terms of
this Agreement, then the CITY shall in no way be obli-
gated and shall not pay to the CONSULTANT any sum
whatsoever.
T 5. OWNERSHIP OF DOCUMENTS
All writings, diagrams, tracing, charts, and
schedules developed by the CONSULTANT under this
Agreement, shall be delivered to the CITY by said
CONSULTANT upon completion of the WORK and shall
become the property of the CITY, without restriction or
limitation to their use. CONSULTANT agrees that all
documents, records and reports maintained and generated
pursuant to this contractual relationship between the
CITY and CONSULTANT shall be subject to all provisions
of the Public Records Law, Chapter 119, Florida
Statutes.
It is furl.her understood by and between the parties
that any information, writings, maps, contract
documents, reports or any other matter whatsoever which
is given by the CITY to the CONSULTANT pursuant to this
84-1452
Agreement shall at all time remain the property of
the CITY and shall not be used by the CONSULTANT for
any purpose whatsoever without the written consent of
the CITY.
6. AWARD OF AGREEMENT
7; The CONSULTANTS warrant that they have not employ-
xK ed or retained any company or persons to solicit or
secure this Agreement and that they have not offered to
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pay, paid, or agreed to pay any person or company any
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fee commission percentage, brokerage fee, or gifts of
any kind contingent upon or resulting from the award of
making this Agreement.
ine %,vh6ULTANTS are aware of the conflict of
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interest laws of the City of Miami (Miami City Code
Chapter 2, Article V), Dade County, Florida (Dade
County Code, Section 2-211.1) and the Florida Statutes
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and agree that they will fully comply in all respects
with the terms of said laws.
7. NON-DELEGABILITY
It is understood and agreed that the obligations
undertaken by the CONSULTANT pursuant to the Agreement
shall not be delegated to any other person or firm
unless the CITY shall first consent in writing to the
performance of such services or any part thereof by
another person or firm.
8. CONSTRUCTION OF AGREEMENT
The parties hereto agree that this Agreement shall
be construed and enforced according to the laws,
statutes and case laws of the State of Florida.
9. SUCCESSORS AND ASSIGNS
This agreement shall be binding upon the parties
hereon, their heirs, executors, legal representatives,
successors, and assigns.
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10. AUDIT RIGHTS
The CITY reserves the right to audit the records
of the CONSULTANT at any time during the performance of
this Agreement and for a period of one year after final
payment is made under this Agreements.
11. INDEMNIFICATION
CONSULTANT shall indenmify and save the CITY
harmless from and against any and all claims,
liabilities, losses, and cause of action, which may
arise out of CONSULTANT'S activities under this Con-
tract, including all other acts or omissions to act on
the part of the CONSULTANTS, or any of them, including
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any person acting for or on his or their behalf, and,
from and against any orders, judgments, or decrees,
l 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 investigation
thereof.
12. CONFLICT OF INTEREST
The CONSULTANT covenants that no person under its
employ who presently exercise any functions or respon-
I
31bilities in connection with this Agreement has any
personal financial interests, direct or indirect, in
this Agreement. The CONSULTANT further covenants that,
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in the performance of this Agreement, no person having
such conflicting interest shall be employed. Any such
interest on the part of the CONSULTANT or its
employees, must be disclosed in writing to the CITY.
The CONSULTANT, in performance of this Agreement, shall
be subject to the more restrictive law and/or
guidelines regarding conflict of interest promulgated
by Federal, State, or Local government.
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13. INDEPENDENT CONTRACTOR
That the CONSULTANTS and its employees and agents
shall be deemed to be
an independent
contractor, and
not an agent or employee
of the CITY,
and shall not
attain any rights or
benefits under the
Civil Service
ji-
or Pension Ordinance
of the CITY, or
any rights gene-
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rally afforded classified
or unclassified
employees;
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further he/she shall
not be deemed entitled
to Florida
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Worker's Compensation
benefits as an
employee of the
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CITY.
14. AMENDMENTS
The CITY may, at
its discretion,
amend the
Agreement to conform
with changes in
applicable City,
County, State and Federal laws, directives, guidelines
and objectives. No amendments to this Agreement shall
be binding on either party unless in writing and signed
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by both parties. Such amendments shall be incorporated
as part of this Agreement upon review, approval and
j execution by the parties hereto.
15.COMPLIANCE WITH FEDERAL, STATE AND LOCAL LAWS
Both parties shall comply with all applicable
laws, ordinances and codes of Federal, State and Local
Governments.
16.GENERAL CONDITIONS
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 or by telegraph 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.
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17.DEFAULT PROVISION
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In the event that the 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 the CITY at its sole
option, may upon written notice to the CONSULTANT and
without further notice or demand to the CONSULTANT may
cancel and terminate this agreement, and all payments,
advances, or other compensation paid to the CONSULTANT
by the CITY while the CONSULTANT was in default of the
provisions herein contained, shall be forthwith re-
turned to the CITY.
IN WITNESS WHEREOF, the parties hereto have caused
these presents to be executed by the respective
officials thereunto duly authorized, this -the day and
year first above written.
ATTEST:
Corporate Secretary
ATTEST:
CONSULTANT
EDWARD H. FRIEND & COMPANY
By:
Edward r en ,
President (Seal)
CITY OF MIAMI, a municipal
corporation of the State of
Florida
By:
City Manager
City Clerk
APPROVED AS TO FORM AND CORRECTNESS:
City Attorney
84-1452
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104
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CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
TO. Howard V. Gary October 22, 1984
C i ty Manager
DATE: PILE:
FROM: Carlos E. Garcia
Director of Finance
SUBJECT:
Agenda Item
REFERENCES:
ENCLOSURES:
It is requested that the attached
resolution authorizing the City Manager
to negotiate a contract with the firm of
E. H Friend & Company for assistance in
pension matters be adopted.
The firm of E. H. Friend & Company has assisted the City for
several years in the preparation of the Pension Valuation reports.
These reports determine the amount of contributions required by
the State of Florida, indicative of the actuarial soundness of the
City's Retirement Plan and System.
In addition, the firm of E. H. Friend assists City Management in
pension related matters including labor negotiation issues and the
resolution of pension litigation cases.
It is necessary at this time to negotiate a contract not to exceed
$50,000 to cover fiscal year 1985.
cc: Law Department
84-1452