DEPARTMENT: Office of Management & Budget
DEPARTMENT HEAD: Maria Villagomez
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Bartel Associates, LLC Actuarial Contract
SUMMARY:
This item ratifies additional services rendered by Bartel Associates, LLC, an actuarial firm, in the amount of $25,000, in connection with the Healthcare and Retirements Benefits Task Force.
BACKGROUND INFORMATION:
The Mayor and City Council appointed a 13-member Healthcare and Retirement Benefits Task Force in the fall of 2013 to study healthcare and pension and provide short term and long term recommendations to reduce cost. The Task Force included members representing active and retired civilian and uniform city employees, business leaders, and pension and healthcare subject matter experts.
The Task Force met a total of eight times beginning on October 28, 2013 and concluding on February 3, 2014. Following a formal Request for Proposal Process, the Task Force retained the services of Bartel Associates to compare the City's pension benefits and contributions to other Texas Cities and to perform trend analysis and projections of the City's General Fund Revenues and Expenses. The cost associated with these services was estimated at $50,000.00
Bartel developed several scenarios of general fund revenues and expenses based on historical data as requested by the Task Force. Additionally, in November 12, 2013 the Task Force requested Bartel Associates to conduct a total compensation survey of Police and Fire uniform positions. Bartel Associates retained Public Financial Management (PFM) to conduct the survey which was presented to the City Council on March 19, 2014.
This item ratifies additional services provided by Bartel Associates in the amount of $25,000.00 for work performed on behalf of the Healthcare and Retirement Benefits Task Force resulting in a total contract amount of $75,000.00.
ISSUE:
This item authorizes the increase of th...
Click here for full text