DATE: April 10, 2019
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Shauna Billingsley, City Attorney
Kristine Tallent, Assistant City Administrator/CFO
Kevin Townsel, Director of Human Resources
SUBJECT:
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Consideration of COF Contract 2019-0087, Engagement Agreement with Evans Petree PC for Employee Pension Plan Legal Counsel. (04/23/19 WS)
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning a recommendation to retain the law firm of Evans Petree PC to provide legal counsel for the City’s pension plan.
Background
The City engaged the firm of Evans Petree in 2014 to serve as counsel for matters related to the employee pension plan. The firm provides legal advisement to staff and the Employee Pension Committee as well as consults with the plan’s actuary firm as needed. We are pleased with the services provided by Evans Petree, for example their assistance during the transition of plan administration and investment management to TCRS (Tennessee Consolidated Retirement System).
Financial Impact
The firm is compensated on an hourly basis for services rendered. There is no change to the hourly rates.
Recommendation
Staff recommends approval of COF Contract 2019-0087, Engagement Agreement Evans Petree PC for Employee Pension Plan Legal Counsel.