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CITY SECRETARY CONTRACT NO.
AMENDMENT NO. 1 TO
CITY SECRETARY CONTRACT NO. 43277
CONSULTING AGREEMENT
This Amendment is entered into by and between the City of Fort Worth (hereafter
"City"), a home rule municipal corporation situated in portions of Tarrant, Denton, Wise and
Parker Counties, Texas, with its principal place of business at 1000 Throckmorton Street, Fort
Worth, Texas, and Gallagher Benefit Services, Inc. (hereafter "Consultant"), a Delaware
corporation("GBS"),acting by and through its duly authorized President.
WHEREAS,the parties have previously entered into City of Fort Worth City Secretary
Contract No.43277(the"Contract"),which was executed on June 7,2012;and
WHEREAS, the actuarial consulting services related to the employees' retirement fund
(the "Plan") of the city of Fort Worth, including, but not limited to, services requested to
determine the actuarial cost impact of plan provision changes, and actuarial review of results
prepared by the Fund's actuary;and
WHEREAS,the original term of the Contract expires on May 14, 2014; and
WHEREAS,the City and Gallagher Benefit Services, Inc., now wish to extend the term
of the Contract for continued services pursuant to the original Contract.
NOW, THEREFORE, City and Consultant, acting herein by the through their duly
authorized representatives,enter into the following agreement to amend the contract:
1.
Section 2, Term. The term of the Contract is hereby amended to extend the term to
expire May 15,2015, unless terminated earlier in accordance with the Contract. Extension of the
term shall not require an increase of Consultant's Fee under the Contract.
2.
Section 9, GBS Limitation of Liability. Section 9 is hereby amended to add the
following:
iv. Except in the event of gross negligence or willful misconduct on the part of GBS,
the aggregate liability under this Agreement, if any, of GBS to the City for
claimed losses or damages shall not exceed$20,000,000.
CFW/Gallagher Benefit Services,Inc.
Amendment No.r to CSC No.43277
Pager of 2
OFFICIAL RECORD
COTY SECRETARY RECEIVED SEP
FT. WORTH9 TX 2 � �®1�
3.
All other provisions of the Contract which are not expressly amended herein shall remain
in full force and effect.
Executed on this then?may o ,2014.
CITY OF FORT WORTH: GALLAGHERBENEFITSERVICES,INC.:
By: By:
Sus n lanis Doug derson
Assistant City Manager Area VP,Actuary&Retirement Services
Date: 0% 94 Date: �A.Z/
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J a J.Ka f r 1-1. ry
City Secret y ��a ffps°
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APPROVED AS TO FORM AND LEGALI
B d1
Maleshia B.Farmer
Assistant City Attorney
Contract Authorization:
M&C: P-11383
Date: 5/15/12
CFW/Gallagher Benefit Services,Inc.
Amendment No.1 to CSC No.43277
Page 2 of 2 OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 5/15/2012
DATE: Tuesday,May 15,2012 REFERENCE NO.: **P-11383
LOG NAME: 13PGALLAGHER MJ
Si BJT T:
Authorize Execution of an Agreement with Gallagher Benefit Services,Inc.,for Actuarial and Consulting
Services in an Amount Up to$100,000.00 Annually(ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council authorize the City
Manager to execute an Agreement with Gallagher Benefit
Services, Inc.,for actuarial and consulting services on a fee for
service basis in an amount up to $100,000.00 annually.
DISCUSSION:
Section XIII of the City's Financial Management Policy Statements
for Fiscal Year 2012 requires the City Council to obtain the
services of an independent actuary for purposes relating to the
Employees'Retirement Fund pension benefits.
This Agreement with Gallagher Benefits Services(GBS)will
provide actuarial consulting services related to the Employee's
Retirement Fund of the City of Fort Worth. Services will be
requested to determine the actuarial cost of plan provision changes,
the actuarial cost impact of known or expected demographic or
economic changes and a review of results of the Fund's actuary.
GBS may perform other services as the City and GBS mutually
agree in writing.
The expected total cost of services in Fiscal Year 2012 is
anticipated to be approximately$100,000.00.There is no
guaranteed amount for this contract since services are billed on
what is actually required, however Staff anticipates spending the
same amount each year the Agreement is in effect.
TERM AND RENEWAL–The initial term of this
Agreement will be for two years beginning May 15,2012. At the
City's option,this Agreement may be renewed for three additional
one year periods unless terminated by either party.Renewal of the
Agreement will not require additional specific City Council
approval as long as the City Council has appropriated sufficient
funds to satisfy the City's obligations during the renewal term.
MIWBE—A waiver of the goal for M/WBE subcontracting
requirements was requested by the Purchasing Division and
approved by the M/WBE Office because the purchase of goods or
services is from sources where subcontracting or supplier
opportunities are negligible.
FISCAL.INFORMATION:
The Financial Management Services Director certifies that funds
are available in the current operating budget,as appropriated,of
the General Fund.
BQN\I3GALL\MJ
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
GG01 539120 0131010 $100.000.00
CERTIFICATIONS:
Submitted for City Manager's Office by: Susan Alanis (8180)
Originating Department Head: Lena Ellis (8517)
Additional Information Contact: Jack Dale (8357)
Marilyn Jackson (2059)
ATTACHMENTS
1. funding verification.doc
2.MWBE Waiver Gallagher Benefit Services.pdf