CONTRACT 5513A Amendment CLOSED Agreement No. 5513A
Agreement No. 5513
FIRST AMENDMENT TO
PROFESSIONAL SERVICES AGREEMENT
BETWEEN
THE CITY OF EL SEGUNDO AND
BARTEL ASSOCIATES, LLC.
This First Amendment is entered into this 21" day of October, 2018, by and between the
CITY OF EL SEGUNDO, a municipal corporation and general law city ("CITY") and BARTEL
ASSOCIATES, LLC., a Limited Liability Corporation ("CONSULTANT").
1. Pursuant to Section 35 of the Agreement between the parties, Section 2 of the
Agreement("Scope of Services") is amended to add the services described in the
attached Exhibit B "City of El Segundo-Ca1PERS Review"; which is incorporated
herein by this reference.
2. This amendment will be increase the total amount of the Agreement by $8,500, so
that the total, not-to-exceed amount of the Agreement is $22,500.
3. This Amendment may be executed in any number or counterparts, each of which will
be an original, but all of which together constitutes one instrument executed on the
same date.
4. Except as modified by this Amendment, all other`terms and conditions of Agreement
No. 5513 remain the same.
[Signatures on next page]
-l-
Agreement No. 5513A
Agreement No. 5513
IN WITNESS WHEREOF the parties hereto have executed this Amendment the day and
year first hereinabove written.
CITY OF EL SEGUN 0 BARTEL ASSOCIATES, LLC.
G
Joseph L'i lio John E. Bartel
Director of Finance President
ATTI� "T:
'^'z Taxpayer ID No.
_.__..
Trac Weaver,
City Clerk
APPROVED AS TO FORM:
Mark 1). Hensley,
City Attorney
-2-
Agreement No. 5.513A
Exhibit B
September 12,2018
Joseph Lillio
Director of Finance
City of Ell Segundo
350 Main Street
El Segundo,CA 90245
Re; City of El Segimdo—CalPERS Review
Dear Mr.Lillio,
Bartel Associates would be happy to provide the City of El Segundo additional actuarial consenting
set-vices.
Background
The City participates in CalPERS. Bartel Associates prepared an analysis of the City's pension unfunded
liabiliti; s,projected future contribution rates,and options to mitigate the impact of the unfunded liability,
all based on Callll-,RS' June 30,2016 actu.irial valuation.
CalPERS recently published June 30,2017 actuarial valuations. While we don't expect these new
valuations to make significant changes in our results,the City might want to update those reports to
incorporate CalPERS most recent results for the upcoming Ad-Hoc committee meeting on October 16,
201&,
Bartel Associates develops a new projection model each year,to take into account the annual changes
Call"ERS makes in their assumptions and suct hodo fogies. "Phis ineans that to incorporate the neev 2017
CaffIf"RS valuation reports, "le would need to re-do our analysis almost from the beginning. Fees would
be as follows:
projee'tVsffipated Fees t.To Exceed'
a Update CalPERS review and contribution 5,500 $ 6,500
projections
W Update projections of impact of payments to 2,000 2,000
CalPERS or supl3lemental trust
IN Total for update 7,500 8,500
K Meeting with Ad-Hoc Committee on October 16,
201$ Not included in our original fee quote)
Please note:
0 We will bill the City at the fqllowhlg,!�Iq�aijLy rates:
Position 2018 Hourl te
Partner&Vice President(Bedding) $2180
Assistant Vice 250.
-Associate Actuar), 200
..........
§enior Actuarial,Ap9hs!, 180
150
Agreement No. 5513A
Joseph Lillio
September 12,2018
Page 2
a Hourly rates include provision for miscellaneous expenses.
M The above time is estimated and does not include time for:
O Formal Report.The project includes a discussion outline with significant detail. This document
is not meant to be a stand-alone explanation of results that the City should give to the City
Council.
O More than 1 meetings. Additional meetings(e.g. Council and/or bargaining group meetings)
will increase the above time by actual meeting and preparation time. If no additional work is
necessary, then fees will be $1,000 to $1,500 for an additional meeting.
We have all the Ca1PERS reports for the project.
We are prepared to begin this project immediately and have scheduled October 16'h,2018 for the ad-hoc
committee meeting.
We look forward to continuing to work with you and the City.
Sincerely,
Bianca Lin,FSA"
Assistant Vice President and Actuary
c Mary Beth Redding, Bartel Associates, LLC
llbarteafs011bartel_assoeiateslelientslcity or el sepundo1prnposn1s120181ba elsepadoc!18.09-12 calpers miew Fee Ietter,dM