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HomeMy WebLinkAboutR-84-0549J-fi4-376 RESOLUTION NO. 84-549 A RESOLUTION A1ITH0RT ITNG THF, (-.TTY MANAGER TO NEGOTTATE AND EXECUTE: A PRO F.SS.TONAL SERVICES A :R1 1.f11:PTT, TPT :3f11!.`,TANTTAI.LY THE PORM ATTACI11;1) Hi RF.TO, WTT11 THE: FIRM OF E. H. FRIEND =. C0f9PANY, Flit F.XPER T ACTUARTAL ASSIS- TANCE_. TN PEN:;TON HATTERS AT A COST NOT TO EX- CEED ",io,nnn t4tTH FUND, fIEREFOR A1,LOC,ATED FROM SPECIAL PROGRAMS AND ACCOUNT:,, CONTINGENT FUND. WHEREAS, The City of Miami. 1:3 concerned about the fiscal stability of its 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 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 and Company for 3 expert actuarial assistance in pension matters at a cost not to z exceed $50,000 with funds therefor hereby allocated from Special Programs and Accounts, Contingent Fund. 't PASSED AND ADOPTED this loth day of May , 1984. 7 T: Q RALPIf' G. ONGIE, CITY CL PREPARED A.IJD APPROVED BY: ROBERT�F. CLARK DEPUTY CITY ATTORNEY APPR VED AS TO FORM AND CORRECTNESS: J R. GARCIA-PEDROSA I/TY ATTORNEY MAURICE A. FERRE M A Y 0 R CITY COMMISSION MEETIIJG OF VAY lU I35 2 F WHEREAS CORPORATE RESOLLMON desires to enter into an agreement with the City of. Miami; and WHEREAS, the Board of Directors at a duly held corporate meeting has considered the matter in accordance with the By -Laws of the corporation; 1\10117, PIK IT PESC1}_,VEID BY THE BOARD OF DIRECTORS that the president and sect r.e-t.,ir arc hca rLv authorized and instructed to enter into a contract in the nine and on behalf of this corporation with the City of t'i.ami upon the terms contained in the proposed contract to which this resolution is attached. DATED this day of , 198 84--54S 40.1 A F F I D A V I T City of Miami uepartment 'of Law 169 East Flanler Street Suite 1101 tiiami , Florida 33131 TO I�T,01-1 IT MAY CONCERN: This it.; to cortify that is authorized to make and sign contracts and agreements by or on behalf of (flame of entity Name and Title oF Affidavit Dame of Entity Address of Entity SWORN TO AND SUBSCRIBED before me this .day of , 1983. NOTARY PUBLIC,State of Florida at arge My Commission Expires: 84-545 PROFESSIONAL SERVICES AGREEMENT This agreement entered into as of the day of , 1984, by and between the City of Miami, a municipal corporation of Dade County, Florida, hereinafter referred to as "CITY" and Edward H. Friend & 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 required actuarial services for the City; and WHEREAS, the Cite Commission authori7cd the City Manager to negotiate and exccute a professional service agreement by Resolution No. .i NOW, THEREFORE, THE CITY AND CONSULTANT agree as follows: 1. TERM: This Agreement shall commence October 1, 1983, for the purpose of providing actuarial service to the CITY for the fiscal year ending September 30, 1984, and shall terminate on September 30, 1984. 2. BASIC SERVICES The CONSULTANT shall provide the following profess- ional 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. 84-543- I k] (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 not limited to method- ology and soundness of pension systems. (9) Other pension related activities and additional work as required by the City Manager. 3. COMPENSATION (a) The CITY shall pay the CONSULTANT, as compensa- tion for the services required pursuant to Paragraph 2 hereof, a fee up to Fifty -Thousand Dollars ($50,000) to be calculated and billcd upon a time and expense basis based on the CONSUI,TAIvT' S standard hourly rate sched- ules and expense charges which, at this date, are approximately as follows: (1) Professional fees - hourly rates October 1, 1983 - September 30, 1984 Chief actuary Senior consultants/actuaries Consultants/actuaries Junior consultants/actuaries Actuarial associates/senior administrative staff Statistician/clerical $ 234.00 125.00 - 166.00 94.00 - 124.00 62.00 - 93.00 31.00 - 61.00 21.00 - 30.00 (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 subroutine developrr;Ent and analysis, training, term- inal maintenance, record keeping, auditing of invoice charges, management, etc., 84-549' 0 V (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 (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. The CITY shall have the right to review and audit the time records and related records of the CONSULTANT per taining to any such billings. (c) t�'otwith:tanding the above rates or the time and cost involved, the C:014SULTANT 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. -3- 4. TERMINATION OF CONTRACT The CITY retains the right to terminate this Agreement: at, any time prior to the completion of the 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 state 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 CONSULTANIT 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. 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 further 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 -4- El L] 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 The CONSULTANTS warrant that they have not employ- ed or retained any company or persons to solicit or secure this Agreement and that they have not offered to pay, paid, or agreed to pay any person or company any fee, commission, percentage, brokerage fee, or gifts of any kind contingent upon or resulting from the award of making this Agreement. The CONSULTANTS are aware of the conflict of interest lawa of the City of Miami (Miami City Code Chapter 2, Article V), Dade County, Florida (Dade County Coda, Section 2-211<1) and the Florida Statutes and agree that they will fully comply in all resp6cts with the terms of said laws. 7. NON-DELEGAAILITY 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. 4; . 4. •,�... F1 E 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 any person acting for or on his or their 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 investigation thereof. 12. CONFLICT OF INTEREST The CONSULTANT covenants that no person under its employ who presently exercise any functions or respon— sibilities in connection with this Agreement has any personal financial interests, direct or indirect, in this Agreement. The CONSULTANT further covenants that, in the performance of this Agreement, no person having such conflicting interest shall be employed. Any such interest on the part of the C014SULTA14T 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. • `�h` � .' 'ram'% -6- 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 or Pension Ordinance of the CITY, or any rights gene- rally afforded classified or unclassified employees; further he/she shall not be deemed entitled to Florida Worker's Compensation benefits as an employee of the 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 by both parties. Such r_mendriients shall be incorporated as part of this Agreement upon review, approval and execution by the r;;,rtic: hereto. 15.COMPLIANCE t,ITH 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. f z` �•T 17.DEFAULT PROVISION 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. CONSULTANT EDWARD H. FRIEND & COMPANY WITNESS: By: Edward H. Friend, President (Seal) CITY OF MIAMI, a municipal corporation of the State of Florida By: City Manager ATTEST: City Clerk APPROVED AS TO FORM AND CORRECTNESS: City Attorney CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO. Howard V. Gary DATE: April 3, 1984 FILE: City Manager SUBJECT: Agenda Item -x�. Carlos E. Garcia E. H. Friend & Co. FROM: Director, of Finance �1 REFERENCES: Contract for FY-84 ENCLOSURES: It is requested that the attached -- resolution authorizing the City Manager to negotiate a contract -, with the firer of E. Ii. Friend & Company, for assistance in pension matter',, tic adopted. The firm of E. H. Fri.cnd and Company has assisted the City for several years in the preparation of the Pension Valuation re- ports. These reports determine the amount of contributions re- quired by the City and also provides the information 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 ex- ceed $50,000 to cover fiscal year 1984. cc: Law Department 3 1 i - 84-5IS _4. g