DATE: December 17, 2018
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Kristine Tallent, Assistant City Administrator / CFO
Kevin Townsel, Human Resources Director
Brian Wilcox, Purchasing Manager
SUBJECT:
title
Procurement Agreement with Findley, Inc. of Brentwood, Tennessee in the estimated annualized amount of $39,400 for closed employee pension plan and OPEB actuarial consulting services for a term of award (Purchasing Office Procurement Solicitation No. 2019-001; Contract No. 2018-0225)
body
Purpose
The purpose of this procurement is to purchase closed employee pension plan and other post-employment benefits (OPEB) actuarial consulting services for a term of award of three (3) years, with up to two (2) options to extend, each time for up to one (1) additional year, for a maximum possible term of award of five (5) years total.
Background
The Board of Mayor and Aldermen voted on November 13, 2018 to accept, contingent upon Law Department and City Administrator approval of City Contract No. 2018-0225, the proposal ranked highest by the interview panel, from Findley of Brentwood, Tennessee, in the estimated annualized amount of $39,400 for closed employee pension plan and OPEB actuarial consulting services for a term of award, and award this procurement to this proposer. The Procurement Agreement, Contract No. 2018-0225, has now been executed in full for both parties.
Financial Impact
As previously reported, the proposal ranked highest by the interview panel, from Findley, Inc. of Brentwood, Tennessee, is in the estimated annualized amount of $39,400 for closed employee pension plan and OPEB actuarial consulting services for a term of award. (The amount of this proposed fee is comparable to the annual fees paid by the City to the incumbent for similar services.) The fees for services rendered that pertain to the closed employee pension plan, estimated to total $33,000 on an annualized basis, would be allocated to th...
Click here for full text