HomeMy WebLinkAboutSummary FormDate: 10/8/ 2015
AGENDA ITEM SUMMARY FORM
FILE ID: 15-01 360
Requesting Department: Office of Management and Budget
Commission Meeting Date: 11 /19/ 2015 District Impacted: All
Type: 4 Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Actuarial and Actuarial Related Consulting Services
Purpose of Item:
Law Department
Matter ID No.
It is respectfully requested that the City Commission accept the recommendation of the City Manager approving
the findings of the Evaluation Committee pursuant to Request for Proposals (RFP) No. 484326 for Actuarial and
Actuarial Related Consulting Services for the Office of Management and Budget, and authorize the City
Manager, after consultation with the City Attorney, to execute a Professional Services Agreement in substantially
the attached form, with the highest ranked responsive and responsible proposer, Gabriel, Roeder, Smith &
Company, as selected as a result of the competitive selection process, for a period of three (3) years, with the
option to renew for two (2) additional two (2) year periods. Funds will be allocated from a combination of
general funds and special revenue funds, subject to the availability and appropriation of funds and budgetary
approval at the time of need. The anticipated cost for the seven year period is $300,000.
Background Information:
See attached sheet for background information:
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: General funds and special revenue funds.
Special Revenue Account No: N/A
CITP Project No: N/A
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost: N/A
Maintenance Cost: N/A
Total Fiscal Impact: $300,000 (Seven Years) d,851 pi'
Final Approvals
(SIGN AND DATE)
Bud
Grants N/A i Management
Procurement".. Dept. Director
Chief City Manager
A p.
CITP N/A
If using or receiving capital funds
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Background Information:
The City of Miami (City) is a defined benefit public retirement system serving general employees of the City. There
are approximately 25,000 active members and 17,000 retired members in the City. The City has three different
pension plans: 1) Firefighters' and Police Officers' Retirement Trust; 2) General Employees' and Sanitation
Employees' Retirement Trust; and 3) Elected Officers' Retirement Trust.
The City has a need for consulting services for actuarial and actuarial related projects. On May 7, 2015, the
Procurement Department (Procurement) issued RFP No. 484326, Actuarial and Actuarial Related Consulting
Services, under full and, open competition to obtain proposals for the services from qualified actuarial consulting
firms, with experience providing services to local governments assessing public employee pension funds and public
employee 401(a) retirement plans.
On August 4, 2015, five (5) proposals were received in response to the solicitation. After evaluating the proposals
following the guidelines published in the solicitation, the Evaluation Committee rated and ranked the proposals,
based upon the written documents. Price was submitted based on proposed hours and are acceptable as maximum
rates. Price proposals were reviewed after the review and scoring of technical proposals. The Committee
recommends to negotiate and execute a contract with the highest ranked responsive and responsible proposer,
Gabriel, Roeder, Smith & Company. The Committee determined that the firm had the necessary experience and
requirements to provide the City with the consulting services. Should negotiations fail, the City will begin
negotiations with the second highest ranked responsive and responsible proposer, until an agreement, acceptable to
the City, has been reached.
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