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Home My WebLink AboutR-81-0404W, RESOLUTION NO ; .. i I l 4 A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A PROFESSIONAL SERVICES AGREEMENT, IN SUBSTAN- TIALLY THE FORAM ATTACHED HERETO, BETWEEN THE CITY OF MIAMI AND COMPENSATION AND C;NFITAL, INC., FOR PENSION ACTUARIAL SERVICES AS REQUIRED RY THE MIAMI CITY GENERAL E°MPLOYEI]S' RETIPTiIENT PLAN, USING FUNDS THEREFOR FROM CURRENTLY BUDGETED FUNDS IN AN AMOUNT NOT TO EXCEED $16,000. WHEREAS, under Section 40-234 (r) of the Miami City Code, the Miami City General Employees' Retirement Plan Board is required to designate an actuary to be its technical advisor; and WHEREAS, the Miami City General Employees' Retirement Plan Board has designated Compensation and Capital, Inc., to be its actuary; and WHEREAS, monies for said actuarial services are available from currently budgeted funds. NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF :MIANI , FLORIDA: Section 1. The City Manager is hereby authorized to execute a Professional Services Agreement, in substantially the form attached hereto, between the City of Miami and Compensation and Capital, Inc., for professional actuarial services to be provided to the Miami City General Employees' Retirement Plan Board using funds therefor from Account 4440102-000210 Plan Trust and Agency Fund Professional Services/Plan Actuary. PASSED AND ADOPTED this 15 day of MAY , 1981. MAURICE A. FERRE )`M A Y O R "SUPPORTIVE DOC-LJ 1`,'l ENTS FOLLOW "DOCUMENT INDEX ITEM NO. 16 if CITY C'.; _ ViE i ci:G G�= Rf_SOlu;ta�� r:�.. The Miami City General Employees' Retirement Plan Board at its meeting of February 27, 1981, in accordance with the City Code, designated Compensation & Capital as their new actuary. Monies to cover this contract in the amount of $16,000 were allocated in the 1980-81 budget. We respectfully request that this contract be placed on the next Miami City Commission acenda for its adoption. Your attention to the above matter is, as always, highly appreciated. If some question arises regarding our request, please don`t hesitate to contact me at A171. .: _.—�..a ..�a'iT+�'i i s K"E,4'.�ak. '.r .::f `".ht�F r `•�qfT�.+P'Jg� .. �..ew ,. �. __ f 1 f Gt%'Y OF MIAM1. FLORIDA Nttk-OFFICE MEMORANDUM TO Rlena Rodriguez DATE April 28, 1981 Pension Administrator SUHIECT Compensation and Capital, Inc. Acturial Services 1 FROM ' o''�a1ld --I,—Cohen ALFERENCtS ssistant City Attorney ENCLOSURES Two t 2 Attached hereto please find a copy of the Agreement between the City of Miami and Compensation and Capital, Inc., that was approved by the Plan at its last meeting, and which has been executed by the actuary. Please take all steps that are necessary to have this matter placed on the Agenda for the next Commission meeting. c A copy of the Resolution is also attached. Retirement Plan, and from time to time prepare actuarial tables and reports as required by law and the tl}ami City General Employees' Retirement Plan and Miami City Commission, including but not necessarily limited to, a report specifying the amount of the appropriation necessary to pay the normal and accrued liability contributions to the trustee, which are creditable to the previous accumulation account for the year, and the amount of appropriation required to cover the expenses necessary in connection with the administration and operation of the retirement plan. (b) prepare and submit actuarial valuations, actuarial surveys and reports as required by the Florida Protection of Public Employees' Retirement Benefits Act; (c) review applications for benefits in special cases, and assist in the interpretation of the retire- ment laws and proposals amendatory thereto; (d) make recommendations to the Retirement Board of the' fliami City General Employees' Retirement Plan relative to possible improvements in the underlying plan of operation to give effect to new developments in the field of retire- ment planning and administration; (e) provide general advisory services, when requested, by the Retirement Board of the Miami City General Employees' Retirement Plan or its administrator. 2. The duration of this Agreement shall be one year, commenc- ing March 1, 1981, and ending February 28, 1982. The City hereby agrees to pay the Corporation, as compensation for the performance of the foregoing actuarial services and all.travel and related ex- penses during the period specified above, the sum of $16,000.00 payable in 4 successive equal quarterly installments at the ends}( (]~�' , /e of each quarter, " U P I�" 1,_�) ; S I V C 2 Dr'NUC' ' V ., r FOLLOW", in the event he is unavailable because of illness or disability, Paul Polchert will make trips to Miami, Florida, to meet with the Retirement Board of the Miami City General Employees' Retirement Plan, its administrative staff and the. Miami City Commission in connection with the performance and report of actuarial services aforementioned at such times as the Retirement Board of the Hiami City General Employees' Retirement Plan or its administrator may direct. 4. The Corporation agrees not to provide any services directly to the City Administration or to the City Commission, except as directed by the Miami City General Employees' Retire- ment Plan or its Administrator. 5. The City retains the right to terminate this Agreement at any tire prior to the completion of the work without penalty to the City. In that event, termination of this Agreement shall be in writing to the Corporation who shall be paid on a pro rats basis provided, however, if the Corporation is terminated subse- quent to its preparation and submission of its report specifying the amount of the appropriation necessary to pay the normal and accrued liability contributions to the trustee, and the amount of appropriation required to cover the expenses necessary in connection with the administration and operation of the retire- ment plan, but prior to completion of the third quarter of the contract, the Corporation shall be paid $12,000.00. it is hereby understood by and between the City and the Corporation that any payment made in accordance with this Section to the Corporation shall be made only if said Corporation is not in default under tho terms of this Agreement. If the Corporation 1 I i t 3` t f Alk r All writings, diagtamst tracing, chartsp and schedules ddVd1dPdd by t-he Corporation under this Agreement# shall be de- liVered to the City by said Corporation upon completion of the work and shall become the property of the City, without restriction or limitation on their use. The Corporation nnrnnc that all documents, records and reports maintained and generated pursuant to this contractual relationship between toe City and Corporation 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 Corporation pursuant to this Agreement shall at all times remain the property of the City and shall not be used by the Corporation for any other purposes whatsoever without the written consent of the City. 7. The Corporation warrants that they have not employed or retained any company or persons to solicit or secure this Agreement and 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. 8. The Corporation is aware of the conflict of interest laws of the City of Miami (Miami City Code Chapter 2, Article V), Dade County, Florida (Dade County Code, Section 2-11.1) and the Florida Statutes and agree that they will fully comply in all respects with the terms of said laws. 9. It is understood and agreed that the obligations under- taken by the Corporation pursuant to this 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. 1 1;, It t "SUPPORTIVE DOCK ��" <<►�+-�� FOLLUWY 11, The Corporation shall indemnify and save the City hart - less from and against any and all claims, liabilities, losses, and causes of action which may arise out of the Corporation's activities under this Contract, including all acts or omissions to act on the part of the Corporation or any of them, including any person acting for or on his or their behalf. 12. The Corporation 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 generally afforded classified or unclassifed employees; further he/she shall not be deemed entitled to Florida Workers' 5