Loading...
HomeMy WebLinkAboutBUCK CONSULTANTS, LLC 1 -2010INSURANCE ON FILE N- 2010 -038 WORK MAY PROCEED UNTIL INSURANCE EXPIRES 33 ,26 -i O `mil CLERK OF COUNCIL DATE: 4-6-)0 AGREEMENT.FOR PROVISION OF ACTURIAL SERVICES ow', THIS AGREEMENT, made and entered into this 27`'' day of April, 2010 by and between Buck' FenAan Consultants, LLC, a limited liability company (hereinafter "Consultant "), and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California (hereinafter "City"). RECITALS A. The City desires to retain a consultant having special skill and knowledge in the field of actuarial studies to provide an actuarial analysis of the City's retiree health insurance plans. B. Consultant represents that Consultant is able and willing to provide such services to the City. C. In undertaking the performance of this Agreement, Consultant represents that it is knowledgeable in its field and that any services performed by Consultant under this Agreement will be performed in compliance with such standards as may reasonably be expected from a professional consulting firm in the field. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions hereinafter set forth, the parties agree as follows: 1. SCOPE OF SERVICES Consultant shall provide actuarial services to perform an analysis of the City's current liability for its retiree health insurance plans, which comply with Governmental Accounting Standards Board (GASB) Number 43 and 45 reporting requirements, as set forth in Consultant's Proposal dated March 25, 2010, attached hereto as Exhibit A and incorporated Dy reference. 2. REPRESENTATIVES For purposes of impletnenting this Agreement, the representative of City shall be the Executive Director of the Finance and Management Services Agency, or his designated representative, and the representative of the Consultant shall be Mike Schionning or his designated representative. Except as may be otherwise stated herein, such representatives shall have the authority to act on behalf of their respective parties in carrying out the terms of this Agreement. 3. DELIVERY OF WORK PRODUCT - OWNERSHIP Consultant warrants and represents that it has the absolute right to enter into and perform this Agreement and will perform its obligations hereunder in accordance with standards and practices prevailing in the industry. Consultant's contribution to the Project, including works to be produced by Consultant hereunder, will not infringe or misappropriate the proprietary or personal rights of any third person or party. Consultant shall deliver to City any work product which results from the services provided. Said work product shall be submitted in hard copy and produced in a form compatible with City's information systems, as agreed between the Project Manager and Consultant. In regard to all material produced as a deliverable under this Agreement, including but not limited to records, papers, drawings, specifications, programs, systems and other materials prepared by Consultant, Consultant agrees, for itself and its affected officers, employees, agents, contractors, and volunteer workers, that (a) other such material shall be the property of the City, and may not be copyrighted without prior review from the City, and (b) the authors of all such material, whether copyrighted or not, award to the City, and to its officers, agents and employees acting within the scope of their official duties, as a condition of payment to the Consultant, a royalty-free, nonexclusive, irrevocable license throughout the world for governmental purposes to disclose, publish, translate, reproduce, and use such materials. 4. COMPENSATION a. City agrees to pay, and Consultant agrees to accept as total payment for its services, the rates and charges identified in Exhibit A. The total sum to be expended under this Agreement shall not exceed $20,000.00 during the terin of this Agreement. b. Payment by City shall be made within thirty (30) days following receipt of proper invoice evidencing work performed, subject to City accounting procedures. Payment need not be made for work which fails to meet the standards of performance set forth in the Recitals which may reasonably be expected by City. S. TERM This Agreement shall commence on the date first written above and terminate on December 31, 2010, unless terminated earlier in accordance with Section 14, below. 6. INDEPENDENT CONTRACTOR Consultant shall, during the entire tern of this Agreement, be construed to be an independent contractor and not an employee of the City. This Agreement is not intended nor shall it be construed to create an employer - employee relationship, a joint venture relationship, or to allow the City to exercise discretion or control over the professional manner in which Consultant performs the services which are the subject matter of this Agreement, however, the services to be provided by Consultant shall be provided in a mamier consistent with all applicable standards and regulations governing such services. Consultant shall pay all salaries and wages, employer's social security taxes, unemployment insurance and similar taxes relating to employees and shall be responsible for all applicable withholding taxes. 7. INSURANCE Prior to undertaking performance of work tinder this Agreement, Consultant shall maintain and shall require its subcontractors, if any, to obtain and maintain insurance as described below: a. Professional liability (errors and omissions) insurance, with a combined single limit of not less than $1,000,000 per claim. 8. INDEMNIFICATION Consultant agrees to and shall indemnify and hold harmless the City, its officers, agents, employees, consultants, special counsel, and representatives from liability for personal injury, damages, just compensation, restitution, judicial or equitable relief arising out of claims for personal injury, including health, and claims for property damage, which may arise from the negligence, recklessness or willful misconduct of the Consultant or its contractors, subcontractors, agents, employees, or other persons acting on their behalf which relates to the services described in section 1 of this Agreement. The Consultant further agrees to indemnify, hold harmless, and pay all costs for the defense of the City, including fees and costs for special counsel to be selected by the City, regarding any action by a third party asserting that personal injury, damages, just compensation, restitution, judicial or equitable relief due to personal or property rights arises by reason of the terms of, or effects arising from this Agreement. City may make all reasonable decisions with respect to its representation in any legal proceeding. 9. CONFIDENTIALITY If Consultant receives from the City information which due to the nature of such information is reasonably understood to be confidential and/or proprietary, Consultant agrees that it shall not use or disclose such information except in the performance of this Agreement, and further agrees to exercise the same degree of care it uses to protect its own information of like importance, but in no event less than reasonable care. "Confidential Information' shall'include all nonpublic information. Confidential information includes not only written information, but also information transferred orally, visually, electronically, or by other means. Confidential information disclosed to either party by any subsidiary and/or agent of the other party is covered by this Agreement. The foregoing obligations of non -use and nondisclosure shall not apply to any information that (a) has been disclosed in publicly available sources; (b) is, through no fault of the Consultant disclosed in a publicly available source; (c) is in rightful possession of the Consultant without an obligation of confidentiality; (d) is required to be disclosed by operation of law; or (c) is independently developed by the Consultant without reference to information disclosed by the City. 10. CONFLICT OF INTEREST CLAUSE Consultant covenants that it presently has no interests and shall not have interests, direct or indirect, which would conflict in any manner with performance of services specified under this Agreement. 11. NOTICE Any notice, tender, demand, delivery, or other communication pursuant to this Agreement shall be in writing and shall be deemed to be properly given if delivered in person or mailed by first class or certified mail, postage prepaid, or sent by facsimile or other telegraphic communication in the manner provided in this Section, to the following persons: To City: Clerk of the City Council City of Santa Ana 20 Civic Center Plaza (M -30) P.O. Box 1988 Santa Ana, CA 92702 -1988 fax (714) 647 -6956 With courtesy copy to: Finance and Management Services Agency Accounting Division City of Santa Ana 20 Civic Center Plaza (M -17) P.O. Box 1988 Santa Ana, California 92702 fax (714) 647 -5414 To Consultant: Buck Consultants, LLC Mr. Mike Schionrung 3 1455 Frazee Road, Suite 805 San Diego, California 92108 -4320 fax (619) 297 -5220 A party may change its address by giving notice in writing to the other party. Thereafter, any communication shall be addressed and transmitted to the new address. If sent by mail, communication shall be effective or deemed to have been given three (3) days after it has been deposited in the United States mail, duly registered or certified, with postage prepaid, and addressed as set forth above. If sent by facsimile, communication shall be effective or deemed to have been given twenty-four (24) hours after the time set forth on the transmission report issued by the transmitting facsimile machine, addressed as set forth above. For purposes of calculating these time frames, weekends, federal, state, County or City holidays shall be excluded. 12. EXCLUSIVITY AND AMENDMENT This Agreement represents the complete and exclusive statement between the City and Consultant, and supersedes any and all other agreements, oral or written, between the parties. In the event of a conflict between the terms of this Agreement and any attachments hereto, the terms of this Agreement shall prevail. This Agreement may not be modified except by written instrument signed by the City and by an authorized representative of Consultant. The parties agree that any terms or conditions of any purchase order or other instrument that are inconsistent with, or in addition to, the terms and conditions hereof, shall not bind or obligate Consultant nor the City. Each party to this Agreement acknowledges that no representations, inducements, promises or agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein. 13. ASSIGNMENT Inasmuch as this Agreement is intended to secure the specialized services of Consultant, Consultant may not assign, transfer, delegate, or subcontract any interest herein without the prior written consent of the City and any such assignment, transfer, delegation or subcontract without the City's prior written consent shall be considered null and void. Nothing in this Agreement shall be construed to limit the City's ability to have any of the services which are the subject to this Agreement performed by City personnel or by other consultants retained by City. 14. TERMINATION This Agreement may be terminated by the City upon thirty (30) days written notice of termination. In such event, Consultant shall be entitled to receive and the City shall pay Consultant compensation for all services performed by Consultant prior to receipt of such notice of termination, subject to the following conditions: a. As a condition of such payment, the Executive Director may require Consultant to deliver to the City all work product completed as of such date, and in such case such work product shall be the property of the City unless prohibited by law, and Consultant consents to the City's use thereof for such purposes as the City deems appropriate. However, any use of unfinished work product shall beat City's sole risk. b. Payment need not be made for work which fails to meet the standard of performance specified in the Recitals of this Agreement. 4 15. DISCRIMINATION Consultant shall not discriminate because of race, color, creed, religion, sex, marital status, sexual orientation, age, national origin, ancestry, or disability, as defined and prohibited by applicable law, in the recruitment, selection, training, utilization, promotion, termination or other employment related activities. Consultant affirms that it is an equal opportunity employer and shall comply with all applicable federal, state and local laws and regulations. 16. JURISDICTION - VENUE This Agreement has been executed and delivered in the State of California and the validity, interpretation, performance, and enforcement of any of the clauses of this Agreement shall be determined and governed by the laws of the State of California. Both parties further agree that Orange County, California, shall be the venue for any action or proceeding that may be brought or arise out of, in connection with or by reason of this Agreement. 17. PROFESSIONAL LICENSES Consultant shall, throughout the term of this Agreement, maintain all necessary licenses, permits, approvals, waivers, and exemptions necessary for the provision of the services hereunder and required by the laws and regulations of the United States, the State of California, the City of Santa Ana and all other governmental agencies. Consultant shall notify the City immediately and in writing of her inability to obtain or maintain such permits, licenses, approvals, waivers, and exemptions. Said inability shall be cause for termination of this Agreement. 18. MISCELLANEOUS PROVISIONS a. Each undersigned represents and warrants that its signature hereinbelow has the power, authority and right to bind their respective parties to each of the terms of this Agreement, and shall indemnify City fidly, including reasonable costs and attorney's fees, for any injuries or damages to City in the event that such authority or power is not, in fact, held by the signatory or is withdrawn. b. Captions and headings in this Agreement, including the title of this Agreement, are for convenience only and are not to be considered in construing this Agreement. c. All Exhibits referenced herein and attached hereto shall be incorporated as if fully set forth in the body of this Agreement. Signatures on next page IN WITNESS WHEREOF, the parties hereto have executed this Agreement the date and year first above written. ATTEST: D.ri f IZAR Clerk of the Council APPROVED AS TO FORM: JOSEPH W.FLETCHER City Attorney By:_;'C1; Laura Sheedy Assistant City Attorney RECOMMENDED FOR APPROVAL: FRANCISCO GUT IERREZ Executive Director — FMSA 6 CITY OF SANTA ANA !� DAVID N. RL'AM - City Manager BUCK CONSULTANTS, LLC c MICHAEL SCHIONNING Principal TaxID## 13— 39sgt41 EXHIBIT A CONSULTANT'S PROPOSAL MARCH 25, 2010 buckconsultanta March 25, 2010 City of Santa Ana Executive Director of Finance and Management Services 20 Civic Center Plaza (M -17) Santa Ana, CA 92702 A Xerox Company RE: GASB 45 — Other Post Employment Benefit (OPEB) Actuarial Study Dear Executive Director: Section 1 — Transmittal Letter Buck Consultants, LLC (Buck) is pleased to provide you with this proposal for providing valuations of the retiree health plans of the City of Santa Ana (the City), which are compliant with GASB 43 and 45. This letter describes our understanding of the objective, our approach, the data needed, the consulting fees, and timeline for performing this analysis. It is our understanding that the objective of this project is to develop an actuarial analysis of the current liability for the City's retiree health insurance plans. This will include an assessment of the current liability for the existing retirees and the expected future liability for the current active employees. The valuation reports will provide the information and exhibits necessary to comply with GASB 43 and 45 reporting requirements. Various funding strategies, expected cash flows, implicit rate subsidy liabilities, and amortization schedules will be presented with the valuation reports. Our actuarial team for the City is composed of two actuarial consultants from our San Diego office, Mike Schionning and Jim Summers. Both are Fellows of the Society of Actuaries and Members of the American Academy of Actuaries. Mike Schionning and Jim Summers can be reached at (619) 725 -1700. Our San Diego office actuaries specialize in health and welfare actuarial practice and the valuation of other post employment benefits (OPEB). All services will be performed within the time period specified. Mike Schionning, Principal, is authorized as supervising actuary to represent the proposer, Buck Consultants at the address and phone number given in the footer of this transmittal page. Buck's website is at www.buckconsultants.com. You may e -mail Jim Summers with any additional questions at james .summers @buckconsultants.com. 1455 Frazee Road, Suite 805 • San Diego, CA 92108 -4320 619.725.1700 • 619.297.5220 fax EXHIBIT A City of Santa Ana March 25, 2010 Page 2 Section 2 — Firm Qualifications and Experience Buck Consultants was founded in 1916 primarily as a consultant to large public retirement systems. From these beginnings, Buck Consultants has come to occupy a dominant position as an actuarial consulting firm in the governmental and not - for - profit arena. In fact, we are one of the few firms with a staff specializing in the public and not - for - profit sectors. We are able to offer public sector clients significant expertise on issues relating to benefits, compensation, and human resource management. Buck Consultants currently provides consulting services to a number of states, municipalities, and quasi - governmental entities. Buck has four California offices located in San Diego, Los Angeles, San Francisco and Orange as well as over 5,000 professionals who serve over 3,000 clients and their employee benefit programs in all 50 states and throughout the world. We believe that the depth and breadth of these local resources will give the District easy access to the technical support it needs. Buck Consultants is a subsidiary of Xerox, a Fortune 500 company with over 130,000 employees worldwide. Buck is licensed to do business in California. Buck has not been party to any lawsuits in the last 10 years concerning issues that would materially impact our ability to provide the requested scope of services. Buck is proud to say that we have never lost a client based on service issues. Given the relatively recent implementation of GASB 43 and 45, most actuarial firms have limited experience with both. However, we are performing GASB 45 valuations along with a Medicare Part D analyses and retiree premium rate subsidy calculations for all of our governmental clients subject to GASB accounting. It is worth noting that in the initial valuation performed pursuant to the current GASB rules, we will develop results under all standard actuarial methods and then review them with you. We will help you as plan sponsor to evaluate the pros and cons of each before you make the final selection. Using a City government as an example, we have developed the liability and annual required contribution (ARC) for its current program. The purpose of the initial analysis was to determine the liability and the difference between the actual cash flow needs and the ARC. In addition, it allowed the City to determine the impact of the current subsidization of retiree rates by active employees. We then modeled the impact of the ARC, the actual cash flow needs, and the liability for a thirty -year time period, assuming no change in the benefit programs. This allowed us to show the additional funding that would be needed if the City chose to fund the ARC each year. buckconsultants- City of Santa Ana March 25, 2010 Page 3 Our next step was to determine the impact on all of these components of various program changes, including the options available under Medicare Part D beginning in 2006, the impact of removing the subsidization of the retiree rates over varying time periods, the impact of benefit design changes, and the impact of prefunding the benefit by funding the actual ARC rather than the cash flow needs. We then worked with City staff and the Personnel Committee of the City Council to determine which option makes the most sense for the City. Our experience with GASB 45 includes our active role in providing comments to the Board during their development. And, as always when new regulatory requirements are being formulated, our Research Department provided us with its analysis. We are committed to strict adherence to the schedule and budget for this project. Attached are brief resumes of the key professionals assigned to this project. Section 3 — Similar Engagements with Other Government Entities Ms. Valerie VanDeweghe Deputy Director of Benefits Risk Management Department City of San Diego 1200 Third Avenue, Suite 1000 San Diego, CA 92101 Phone: 619- 236 -6785 E -mail: VVanDeweghe @sandiego.gov Projects: Ongoing annual GASB 45 valuations and plan change scenario cost/savings pricing with analysis since 2006. Ms. Lisa Driscoll County Finance Director Contra Costa County Administrator's Office 651 Pine Street, 10th Floor Martinez, CA 94553 Phone: 925- 335 -1023 E-mail: Idn's@cao.eccounty.us buckconsultants, City of Santa Ana March 25, 2010 Page 4 Projects: Ongoing biennial GASB 45 valuations and plan change scenario cost /savings pricing with analysis since 2006. Mr. Michael Shelton Assistant City Manager /Finance City of El Cajon 200 Civic Center Way El Cajon, CA 92020 Phone: 619- 441 -1718 E -mail: mshelton @ci.el - cajon.ca.us Projects: First biennial Ca1PERS compliant GASB 45 valuation completed for the City in 2007 and completed a second 2009 biennial valuation last year. Section 4 — Report Format Sub - Section A - Data to be Supplied This sub - section provides a brief description of the information needed to develop the analysis. If selected by the City, we would work with staff to develop a more formal, detailed data request. Census data for the current Active and Retired employees. This information should include an employee ID number, the date of birth and the sex of the individual, the date of hire, bargaining unit, the date of retirement (for retirees), marital status at retirement and the date of birth of the covered spouse, if any. In addition, the census data should indicate the plan the retiree has chosen and any retiree contribution amount that may be required under the program • Benefit description of the medical plans that are offered • Description of the eligibility rules for retiree coverage (for example, age 50 plus 10 years of service) • Contribution formula and current contribution amounts for retirees /spouses buckconsultanta City of Santa Ana March 25, 2010 Page 5 • Current rates by medical plan and rate tier for active and retired employees; historical rate increases for the prior two or three years • If rates are blended between active and retired employees, any claims experience reports that show the relative cost difference between the two groups • Description of the City's approach towards Medicare Part D coverage Sub - Section B — Time Table and Work Product Buck will use its valuation software to develop the liability for current retirees, active employees who currently meet the eligibility requirements for retiree medical, and active employees who do not yet meet the eligibility requirements for retiree medical coverage. We will then develop a formal report that will show the following information: • Present value of the total liability for the City under varying health cost trend scenarios • Unfunded accrued actuarial liability (the UAAL) for over and under age 65 • Annual required contribution (ARC) under varied amortization schedules • Cash flow projections for the life of the current active and retiree population • Analysis of various funding strategies and their funding cost impact • A complete description of the assumptions that underlie the valuation • A glossary of common terminology used in retiree medical valuations The following is a representative table of contents for a final report: Table of Contents Cover Letter and Certification Background........................................................................................... ............................... 1 Data...................................................................................................... ............................... 2 ValuationResults ................................................................................... ............................... 3 buckconsuitants- City of Santa Ana March 25, 2010 Page 6 Appendices Appendix A— Actuarial Assumptions and Methods ............................... .............................10 Appendix B —Summary of Plan Provisions .......................................... .............................14 Appendix C — Summary of Employee Data ........................................ ............................... 16 Appendix D — Glossary of Terminology .............................................. ............................... 18 Once each valuation report is complete we will submit a draft report to you for review. We will discuss the reports with you and incorporate your comments into the final reports. The expected time needed to complete each valuation is four to six weeks after receiving the census data described above. Section 5 – Total All- Inclusive Maximum Price This section outlines the expected cost for this project. As a consulting firm, we charge fees for our services on a time and expense basis so that our clients are assured of receiving maximum value. Buck will perform this project on a time and expense basis, with a limit on our fees to a guaranteed amount. We will charge only for the amount of work actually performed. The total cost is expecndto t- " angfrom$15,000 to $20,000, with a not to exceed cost of $20,000. This includ ace -to -face meetings; the first to discuss the project and the current City benefit plans and the second to present the final reports and discuss the findings of the reports. The expected time needed to complete this project is four to six weeks after receiving the census data described above. Section 6 – Rates by Partner, Supervisory and Staff Detailed estimated costs for this project include approximately 40 hours of programming and valuation data work by an associate level actuary at $250 per hour and 8 hours of director level actuarial peer review and meeting attendance at $450 per hour. Additional Principal consulting input of around 4 hours would be billed at $500 per hour. This gets us to an estimated total cost of $15,600 and under the not to exceed quote of $20,000 if more services are needed. buckconsultants City of Santa Ana March 25, 2010 Page 7 Some additional information as requested: 1. Buck Consultants is independent of the city and we are unaware of any potential conflicts of interest. 2. Reasonable limits on liability and contract terms would be discussed if we are fortunate enough to win this project. 3. The firm maintains prudent amounts of errors and omissions insurance that covers negligent acts and is applicable to the work requested in the RFP. 4. There are no known pending legal actions against the firm. If you have any questions, please feel free to contact Jim Summers or me at (619) 725 -1700. Sincerely, Michael W. Schionning, F.S.A., M.A.A.A. Principal and Consulting Actuary cc: Jim Summers, Buck Consultants buckconsultanta Mike Schionning, F.S.A., M.A.A.A. — Mike is a Principal in the San Diego office and leads the Health Care Actuarial practice for the Western United States. Mike is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. He will serve as the account executive for the City, responsible for the overall consulting relationship. He has over 25 years of experience in managed care actuarial analysis, product design, capitation development, and provider consulting support for clients. He also has experience performing workers' compensation reserve analysis, implementing and maintaining flexible benefits programs, performing annual renewal negotiations, and designing customized benefit programs and delivery systems for clients. Examples of Mike's work include: Client Type Activity City government Overall responsibility for development of benefit strategy, health and welfare consulting, compliance, financial analysis and reporting for a city government. Manages a team that provides day -to -day troubleshooting of service issues. School district Overall responsibility for a trust composed of 23 school districts, representing over 20,000 employees. Responsible for health and welfare consulting for the trust, and the marketing of the trust to prospective districts. Works with the board of trustees, which is composed of equal representation of labor and management. County government Overall responsibility for a large county government's benefit administration. Manages a team of experts responsible for both day -to -day service as well as for troubleshooting issues and preparing for and executing open enrollment. Works closely with both labor and management. buckconsultants James Summers, F.S.A., M.A.A.A. — Jim is a Director and Health and Welfare Actuary in the San Diego office. Jim will be the City's lead health and welfare actuary. He coordinates the project workflow for employee benefit actuarial consulting services. Jim's actuarial responsibilities include analysis and pricing of active medical plans, retiree health care plans, retiree postretirement liabilities, and flexible benefits programs. Jim has more than 20 years of experience in employee benefits, managed care actuarial analysis, product design, pricing, and reserving. He is responsible for providing the full range of health and welfare services. He has extensive experience implementing and maintaining flexible benefits programs, performing annual renewal negotiations, and designing customized benefit programs and delivery systems. Examples of Jim's work include: Client Type Activity Large corporation Responsible for developing annual actuarial valuations (FASB 106/112/132 and SOP 92 -6 valuations); reviews and negotiates PPO /HMO renewal rate actions, determines the cost impact of proposed benefit plan and funding changes, and develops annual financial projections. School district Develops. annual reserve requirements for the district's self - funded programs, develops proposed premium equivalents and budget projections, performs GASB 45 postretirement medical valuations, and provides reserve and funding analysis. County government Creates budget projections for future years, evaluates pharmacy benefit manager proposals, calculates reserve levels for self - funded benefit plans, performs GASB 45 postretirement medical valuations, and advises on the impact of the Medicare Modernization Act's prescription drug plan for retirees. buckconsultants CERTIFICATE OF LIABILITY INSURANCE DATE 04/02 2010 04/02/2010 PRODUCER Aon Risk Services Southwest, Inc. THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY Dallas TX office AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS Ci tyPl ace Center East CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE 2711 North Haskell Avenue COVERAGE AFFORDED BY THE POLICIES BELOW. suite 800 Dallas TX 75204 USA INSURERS AFFORDING COVERAGE NAIC # PHONE -(866) 283 -7122 FAX -(847) 953 -5390 INSURED INSURER A: chartis specialty Insurance company 126883 Buck Consultants, LLC One Pennsylvania Plaza 29th Floor New York NY 10019 USA r nVF.RAr R d 4. Jr e 'o rr i. u 'fl O GTR nnnlioc n— tormc ­4 i- nna4t4nnc -F tk. --1:. .�i THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. LIMITS SHOWN ARE AS REQUESTED INSR ADD' INSURER B: N- 2010 -038 INSURER C: LTR INSRE INSURER D: INSURER E: d 4. Jr e 'o rr i. u 'fl O GTR nnnlioc n— tormc ­4 i- nna4t4nnc -F tk. --1:. .�i THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. LIMITS SHOWN ARE AS REQUESTED INSR ADD' LTR INSRE TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE DATE(MM /DD/YYYY POLICY EXPIRATION DATE(MM /DD/YYYY) LIMITS GENERAL LIABILITY EACH OCCURRENCE COMMERCIAL GENERAL LIABILITY DAMAGE TO RENTED CLAIMS MADE OCCUR PREMISES (Ea occurrence) XP ny one person) PERSONAL & ADV INJURY GENERAL AGGREGATE GEML AGGREGATE LIMIT APPLIES PER: PRODUCTS - COMP /OP AGG ❑ POLICY ❑ E T ❑ LOC AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT ANY AUTO (Ea accident) ALL OWNED AUTOS BODILY INJURY SCHEDULED AUTOS ( Per Person) HIRED AUTOS BODILY INJURY NON OWNED AUTOS (Ptt accident) 1�i PROPERTY DAMAGE (Per accident) GARAGE LIABILITY AUTO ONLY - EA ACCIDENT ANY AUTO y., / `lS~' - OTHER THAN EA ACC 1H ` L,..:. -- yJ AUTO ONLY: h Z AGG EXCESS 1 UMBRELLA LIABH,ITY OCCUR CLAIMS MADE -��, jLa ki ( EACH OCCURRENCE AGGREGATE BDEDUCTIBLE RETENTION WORKERS COMPENSATION AND WC STATU- OTH- EMPLOYERS• LIABILITY S I IER E.L. EACH ACCIDENT ANY PROPRIETOR /PARTNER /EXECUTIVE E.4 DISEASE -EA EMPLOYEE OFFICER/MEMBER EXCLUDED? (Mandatory In NH) E.L. DISEASE - POLICY LIMIT Ifyes, describe under SPECIAL PROVISIONS below A OTHER 018805845 ACtuarial & MiSC PL 05/26/2009 Prof. Liab $10,000,000 . E80- ProfLiabPri DESCRIPTION OF OPERATIONS /LOCATIONS/VEHICLES/EXCLUSIONS ADDED BY ENDORSEMENT/SPECIAL PROVISIONS Retention = $2,500,000 for Miscellaneous Professional Liability and $7,500,000 for Actuarial services performed by Buck Consultants, LLC. RE: For Bid Purposes: RFP for Actuarial Services 2010 -12. O to N 7 rn W m O O n an 0 Z V V t d U f� J +fly r J 9 \.HL�I.GLLH 11VL1 For Information Only SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER ITS AGENTS OR REPRESENTATIVES. AUTHORIZED REPRESENTATIVE ACORD 25 (2009/01) ©1988 -2009 ACORD CORPORATION. All rights reserved— The ACORD name and logo are registered marks of ACORD DATE(MM /DD /YYYY) CERTIFICATE OF LIABILITY INSURANCE 06/01/2010 PRODUCER THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY Aon Risk Services Northeast, Inc. AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS New York NY office CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE 199 water Street New York NY 10038-3551 USA COVERAGE AFFORDED BY THE POLICIES BELOW. INSURERS AFFORDING COVERAGE NAIC # ?HONE-(866) 283 -7122 FAX-(847) 953 -5390 ., Chartis Specialty insurance Company 26883 L INSURER A: INSURED u Buck Consultants, LLC INSURER B: one Pennsylvania Plaza d 29th Floor INSURER C:- rb. New York NY 10019 USA INSURER D: ,emu IN SURER E: SIR applies per terms and conditions of the policy `x COVERAGES INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. LIMITS SHOWN ARE AS REQUESTED INSR ADD' LTR INS TYPE OF INSURANCE POLICY NUMBER POLICY D/YYYY DAT (MM DD /YYYY) LIMITS RAL LIABILITY COMMERCIAL GENERAL LIABILITY CLAIMS MADE F-1 OCCUR GEN'L AGGREGATE LIMIT APPLIES PER: POLICY 11 PRA [__j LOC JECT MOBILE LIABILITY ANY AUTO ALL OWNED AUTOS SCHEDULED AUTOS HIRED AUTOS NON OWNED AUTOS GARAGE LLIBILITY r1 ANY AUTO 'SS / UMBRELLA LIABILITY OCCUR F-1 CLAIMS MADE WORKERS COMPENSATION AND EMPLOYERS' LL4BH.ITY ANY PROPRIETOR /PARTNER /EXECUTIVE OFFICER'MEMBER EXCLUDED? (Mandatory in NH) If— describe under SPECIAL PROVISIONS below OTHER E&O- ProfLiabPri aPPRovl"y) t�TO Laura Sti t Sheedy Assistant C ty Attorney EACH OCCURRENCE DAMAGE TO RENTED PREMISES (Ea occurrence) MED XP (Any one person) PERSONAL & ADV INJURY GENERAL AGGREGATE PRODUCTS - COMP /OP AGG COMBINED SINGLE LIMIT (Ea accident) BODILY INJURY ( Per person) BODILY INJURY .(Per accident) PROPERTY DAMAGE (Per accident) AUTO ONLY - EA ACCIDENT OTHER THAN EA ACC AUTO ONLY: AGG EACH OCCURRENCE AGGREGATE WC STATU- OTH TORY LIMITS ER E.L. EACH ACCIDENT E.L. DISEASE -EA EMPLOYEE E.L. DISEASE- POLICY LIMIT 10,000,000 $2,500,000 DESCRIPTION OF OPERATIONS /LOCATIONS /VEHICLES /EXCLUSIONS ADDED BY ENDORSEMENT /SPECIAL PROVISIONS Named Insured includes: Buck Consultants, LLC, 1455 Frazee Road, Suite 805, San Diego, CA 92108 Re: Contract No, N -2010 -038 CERTIFICATE HOLDER CANCELLATION city Of Santa Ana SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION Attn: Bich D. Ta, Supervising Accountant DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL Finance &Management services 30 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO DO SO SHALL IMPOSE NO OBLIGATION OR LIABILITY Accounting Division M -17 OF ANY KIND UPON THE INSURER, ITS AGENTS OR REPRESENTATIVES. 20 Civic Center Plaza g^ Santa Ana CA 92701 USA AUTHORIZED REPRESENTATIVE _4;�_ ACORD 25 (2009/01) ©1988 -2009 ACORD CORPORATION. All rights reserve The ACORD name and logo are registered marks of ACORD T r•-I O M O O M O O n iXI O Z Y u L:. •L u U - -� DATE(MM /DD /YYYVj �`� -�"zOu CERTIFICATE OF LIABILITY INSURANCE DSresaD,z THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE (jOV�RAGE AFFOR!<jP.,D �H� POLICIES �y BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEENTHE 'ISSUING "INSU E (S),- THORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate M1older is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVE, subject to tM1e terms and conditions of the policy, certain policies may require an endorsement. A statement oh this certificate does not confeF"itights to the certificate holder in lieu of such end orsement(s). - PRODUCER AOn RISk SerVl C05 NOrLF1Ca5t, InC. New York NY Offi Ce CONTACT NAME: (NC Nino. EYt): (866 263 -7122 ac No : (847) 953 -5390 E -MAIL 1[39 Water Street New York NY 10038 -3551 USA ADDRESS: INS URER(S) AFFORDING COVERAGE NAIL p INSURED INSURER A: CharLis Speci al Ly InSUranCe Company 26883 X C'r0% BUST ne55 SerVi ces, LLC. dba of ciliated Computer Services INSURER B: INSURER C: 2828 N. HdSkell AVe_ Dallas TX 75204 USA INSURER D: INSURER E: INSURER F: TI -11S IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANV CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAV PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLVSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAV HAVE BEEN REDUCED BY PAID CLAIMS. Limits shown are as requested ILTR TYPE OF INSURANCE HSR WVO POLICY NUMBER MM /OO /YYW MM /DD/YYW LIMITS (�y /y ��� � �y'/J /��//� +� ` y{ /� VclPfl s(!G!A'SG eJ6Lt�rG6N V /Pf.�r/�O� ✓7YQ GENERAL LIABILITY EACH OCCURRENCE DAMA E T RENTED COMMC -RCIAL GENERAL LIABILITY PREMISES Ea o CLAIMS -MADE � OCCUR MED EXP (Any one person) PERSONAL 8 ADV INJURY GENERAL AGGREGATE G5N'L AGGREGATE LIMIT APPLIES PER: PRODUCTS - COMP /OP AGG POLICY PRO- LOC AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT c lea BODILY INJURY (Per person) ANY AUTO BODILY MJURY (Per accitlenq ALL OWNED SCHEDULED AUTOS AUTOS HIRED AUTOS NON -OWNED AUTOS TT. ��- / V }__, jJ /- .S i \_j !!_�� y � q V L�1V l PROPERTY DAMAGE Par accieam UMBRELLA LIAB OCCUR EACH OCCURRENCE AGGREGATE E %CESS LIAB CLAIMS -MADE ll U i it ti I. i - ll OED RETENTION WORKERS COMPENSATION AND EMPLOYERS'LIABILITY Y/N cln Ll';� �,1 Y ieLLU I�:: WC STATU- TORY LIMITS ORFI E.L. EACH ACCIDENT ANY PROPRIETOR /PARTNER / E %ECl1TNE OFFICER /MEMBER E %CLUDEDO � N / A E.L. DISEASE -EA EMPLOYEE (Mandatary In NH) Ir yes, eescriba eneer DESCRIPTION OF OPERATIONS below E.L. DISEASE- POLICY LIMIT A E &O- ProfLi abPri 019326533 05/26/2012 05/26/2013 Aggregate $10,000,000 SIR applies per policy Ler 5 & Condi ions SIR $7,500,000 DESCRIPTION OF OPERATIONS /LOCATIONS /VEHICLES (ABacM1 ACORD 101, Atltll[ional Ramarka SeM1atlul¢, If mor¢ space la requlretl) e- vidence of Coverage. CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. BUCk COn SUI tan LS, LLC AUTHORIZED REPRESENTATIVE 14911 Quorum Drive, Suite 200 Dallas TX 75254 USA (�y /y ��� � �y'/J /��//� +� ` y{ /� VclPfl s(!G!A'SG eJ6Lt�rG6N V /Pf.�r/�O� ✓7YQ ©'1988 -20'10 ACORD CORPORATION. All rights reserved. ACORD 25 (20'I O /OS) The ACORD name and logo are registered marks of ACORD `tu a U O 2 N 0 O L V i tY U