HomeMy WebLinkAboutContracts & Agreements_13-1954EARL W, CHAPMAN
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',UTIVE OFFICER STATE OF CALIFORNIA T NELSON
ACTUARY
E&WARC) K_ CooMgs BOARD OF ADMINISTRATION
L.A UREN C. FI AI GtIT
ASSISTANT EXECUTIVE OFFICER ASSISTANT ACTUARY
532E K STREET
SACRAMENT0 14
PLEASE DIRECT YOUR REPLY TO SECTION
RCFCR TO MEMBER ACCOUNT NUM6
CONTRACT OF
CITY CF REDLM
Name of Pub is Agency
with the
Firm of COATES, HERFURTH AND ENGLAND, CONSULTING ACTUARIES, for making an
investigation and valuation as stated herein.
1. This AGREEMENT made this r4 day of , 19; c¢, by and between the
CITY COUNCIL of C iY OF Rim ,
hereinafter reYe—ri�e—cf to as Agency, and COATES, HERIURTH and ENGLAND, a co-
partnership composed of Carl E. Herfurth, Arthur W. England, and G. Frank Waites,
Consulting Actuaries, hereinafter referred to as Actuaries.
WITNESSETH:
2. Agency herewith engages and retains the services of Actuaries for the following
work-,
a. To make as of June 30, 1954, with reference to persons who have been and are
members of the State .Employees' Retirement System with credit for service
rendered as employees, the investigation and valuation provided for in
Section 20127 of the State Employees' Retirement Law, the results of said
investigation and valuation to be the basis of determination by the Board of
Administration of any necessary adjustment in the contributions required of
Agency under the contract between its legislative body and said Board.
b. To make as of June 30, 1954, such valuation of assets and liabilities as may
be necessary to determine the contribution which would be required of Agency
if it subjected -itself and its employees to certain amendments to the
Retirement Law. The Actuaries; reports with respect to said amendments shall
be as follows:
NCNE
'D-4. Ttil___ I,n E. `1 /__ ... - /rl \ --.�..
3. It is assumed that the employees of the Agency are of TWO member clasaifications
and that there will be included in the valuation 233 persons who are members or
who are receiving retirement allowances because of service rendered to Agency.
4. Should Actuaries encounter in the valuation any unusual situation or should
Actuaries be requested by Agency to make further valuations of different combina-
tions of benefits and contributions, which might require an additional expenditure
of time" said situation and request shall be brought to the attention of the Board
of Administration, State Employees= Retirement System for further consideration.
It is understood that the time expended in connection with said unusual situation
and further valuation, is not included within the fee stated herein.
5. Agency and Actuaries understand that said Board of Administration will furnish to
Actuaries, the data relative to persons who are members of said Retirement System
with credit for service rendered as employees of Agency, necessary for performance
of the work described in paragraph 2. Both parties also understand that said
Board of Administration will make available to Actuaries' various tables and
schedules of rates based on the experience under said Retirement System among merr,
bers thereof' as determined in current and previous investigations and valuations.
Both parties understand, further, that in accordance with said Retirement Law, the
work to be performed by Actuaries shall be performed under the direction of the
Actuary of the Retirement System, and that all data in connection with said work,
including work sheets, final results, and reports from Actuaries, shall be the
property of the Board of Administration and shall be delivered to said Board at
the conclusion of said work.
b. For the full performance and completion of said services, Actuaries shall receive
from Agency, the following amounts:
For work provided in sub --paragraph a. of paragraph 2 hereof 226*45
For work provided in sub -paragraph b. of paragraph 2 hereof
Total 0 226,m45
Subject to adjustment on account of variation in the number of employees for whom
data are submitted as provided in paragraph 5 hereof" from the number of such err,
ployeas stated in paragraph 3, and subject to any adjustment made on account of
any unusual situation,, or on account of further valuations of different combina-
tions of benefits and contributions requested by Agency, as hereinbefore provided.
Agency agrees that the sum fixed in this paragraph as compensation for the services
to be performed by Actuaries, shall cover only the calculations and conferences
between the officers and employees of the Board of Administration and Actuaries,
necessary in the performance of the work, excluding conferences between Agency
and Actuaries. It is understood and agreed that Agency shall deal only through
said Board of Administration.
Ret. Form 424-2 (Rev. 9/54) 2000
7. Actuaries hereby agree to render the services herein provided for and to complete
the same in a satisfactory and expeditious manner. Actuaries shall .furnish to
the Board of Administration, in addition to data provided herein to be furnished$
a written summary in duplicate on the Retirement System's form, of the results of
the calculations made under this agreement and the compensation provided for here-
in shall be payable by Agency when such summary is delivered to the Board of
Administration.
8. This contract is made and entered into in accordance with the provisions of
Chapter 4 of the State Employees: Retirement Law, and is subject to the provisions
of said Law.
WITNESS OUR HANDS the day and year first above written.
Approved by the
`: TATE EMPLOYEESS
the meeting held
Date
Board of Administration,
RETIRE MIT SYSTEM, at
01954
DEC 1 oj954
By
Executive Off3 er
CITY OF RFIAM
ame of Agency
COATES, HFRFURTH AND ENGLAND, a co-
partnership composed of:
Carl E. Herfurth
Arthur V1. England
G. Frank Waites
BY
Ret. Form 424-3 (Rev. 9/54) 2000
Ret. Form 424-3 (Rev. 9/54) 2000
EARL W. CHAPMAN
EXECUTIVE OFFICER
EDWARD K. COOM05
ASSISTANT EXECUTIVE OFFICER
STATE OF CALIFORNIA
BOARD OF ADMINISTRATION
1320 K STREET
SACRAMENT0 1.4
]December 23, 1954
City of Redlands
City Hall
RedlandstCalifornia
Attention: Mr. Julius E. Harp
Gentlemen:
PLEASE DIRECT YOUR REPLY TO
REFER TO MEMBER ACCOUNT NUMBER
Enclosed for your file is a copy of the contract
between your Agency and Coates, Herfox-th and England,
Consulting Actuaries, as approved by the Board of
Administration.
The contract is for the work to be performed
by the Consulting Actuaries in connection with the
quadrennial valuation as of June 30, 1954.
MO.
Encl.
Yours truly,
UR C A HAIGfi
ACTUARY
LAUREN C. HAIGHT
ACTUARY
23
Ret. Form 891 12/54 35o
EARL W. CHAPMAN
EXECUTIVE OFFICER
EDWARD K. CooMBs
ASSISTANT EXECUTIVE OFFICER
t
City of Redlands
City Hall
RedLmds,v Califorda
Gentlemen:
STATE OF CALIFORNIA
BOARD OF ADMINISTRATION
711�11001jaq I i efirrill'alt '��Vstrlll
13PO K STREET
SACRAMENT0 14
Novera]er S, 195 PLEASE DIRECT YouR REPLY TO
RALPH R- NELSON
ACTUARY
LAUREN C. HAIGHT
ASSISTANT ACTUARY
REFER TO MEMBER ACCOUNT NUMBER
The next to the last paragraph in Form Letter 529, sent to you early in
September, referred to a contract form to be executed between the legislative
body and the Consulting Actuary, with reference to the investigations and
valuations explained in the letter. Approximate costs of the valuations pre-
viously were quoted to be used by public agencies in making the necessary
budget provisions for 1954.55.
The contract form has been prepared, and is enclosed in quadruplicate.
Three copies of the contract, properly executed, should be returned as soon as
possible.
23
I believe the contract will be self-explanatory. The items under paragraph
2 in the contract, agree with the statement of your desires in our Form 530, come
pleted by you and returned to the Retirement Office recently. If you did not
return Form 530, it has been assumed the agency does not wish any supplemental
valuations.
The fee stated in item 6 of the contract is based on the number of members
given in item 3, as explained in our letter of June 18, 1954. No remittance is
to be sent by you until you receive a statement from the Actuaries, following
completion of the work.
If you want further information before executing the contract and returning
three copies of it to the Retirement Office for execution by the Consulting
Actuary, and approval by the Board of Administration, I shall be glad to hear
from you. A copy of the contract will be returned to you after approval by the
Board.
me
encl.
Yours truly,
fL
r i ,J
LAUREN C. HAIGHT r
ACTUARY
Ret. Form 562 (Rev. 9/54) 750