HomeMy WebLinkAboutsummary formAGENDA ITEM SUMMARY FORM
FILE ID: OS — OO {
Date: _/ 1 Requesting Department: Employee Relations
Commission Meeting Date: 1 1 0I 005 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Benefit Consulting Services and Actuarial Services
Purpose of Item:
Respectfully recommending for the City Commission to authorize the acquisition of Benefit
Consulting Services and Actuarial Services, from Mercer Human Resource Consulting, utilizing
existing State of Florida Contract No. 973-500-03-01, effective until October 14, 2005, subject to any
extensions or replacement contracts thereto by the State of Florida, for the Department of Employee
Relations, in a total amount not to exceed $150,000, allocating funds from the General Operating
Budget, Account No, 001000.921002.6340.27019.
Background Information:
MERCER Human Resource consulting has provided the following actuarial services to the City of
Miami since 1994; the annual valuation of the two pension systems; prepared State -required annual
actuarial valuation report for the Public Official Retirement fund; provided expert testimony in
litigation related to pension matters; and assisted the City in costing proposals related to pension
benefits preduring and post negotiations, including funding alternatives for the last 10 years. The firm
has historical information on the City's pension systems and will not require any data collection and
input time in order to respond to requests. The City Commission previously adopted Resolution
Number 00-777 approving an initial two-year agreement and two one year extensions of a contract for
actuarial services formerly known as William M. Mercer currently known as MERCER Human
Resource Consulting. FY'04 has become a very active year for actuarial consulting services as a
result of pension and health related items that are subject of ongoing negotiations with the FOP, IAFF,
AFSCME 1907, and AFSMCE 871.
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No: 001000.921002.6.270
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE)
CIP Budget
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