Laserfiche WebLink
John P. Reekstin <br />September 17, 2003 <br />Page 2 <br /> <br />Please note, for Phase 1: <br />· We will bill the City at the following hourly rotes (however, most of the time for the <br /> above project would be at the President/Senior Actuary level): <br /> President & Senior Actuary$225 Actuary $175 <br /> Consultant $150 Actuarial Analyst $125 <br /> Support Staff $75 <br />· We don't anticipate any questions for CalPERS. However, if we do have questions <br /> and must talk with CalPEPS, the above time might be increased by 2 hours. <br />· We agree to: <br /> · not spend more than 18 hours for the above work, without prior approval; <br /> · not bill for initial Santa Arm or Sacramento meeting travel time; and <br /> · limit miscellaneous expenses (for allocated travel, computer, report production and <br /> the like) to $350 or 10% of hourly fees, whichever is less. <br /> <br />To complete Phase 1, please provide me copies of CalPEPS Miscellaneous and Safety <br />June 30, 2002 Actuarial Valuations, which the City should receive shortly. <br /> <br />Phase 2 time is much more difficult to predict However, we've found that fees for similar <br />projects have ranged from $8,000 to $15,000. In any case, for Phase 2: <br />· We will bill the City at the hourly rates indicated above <br />· We agree to: <br /> · not bill for Santa Arm or Sacramento meeting travel time, provided meetings are <br /> not scheduled with short notice; and <br /> · limit miscellaneous expenses to 10% of hourly fees. <br /> <br />We are prepared to begin Phase 1 immediately and can set a meeting date as soon as we receive <br />die above information. Meeting dates are usually set approx/mately 34 weeks at~er we receive <br />the actuarial information. I look forward to working with you and the City. <br /> <br />Sincerely, <br /> <br />John E. Bartel <br />President <br />jb: JEB <br /> <br />Encl. <br />o:\prospect\clty of santa aha[letter 03-09-17.doc <br /> <br />BarMAssodates, &LC <br /> <br /> <br />