The URL can be used to link to this page

Home My WebLink AboutContract 49145-R1 CSC No. RECENED CITY OF FORT WORTH MAY - � 2018 CONTRACT RENEWAL NOTICE nv n7 FORT WORTH 5/9/18 TARY PFM Group Consulting,LLC PFM Financial Advisors,LLC PFM Asset Management,LLC 1735 Market Street,43r6 Floor Philadelphia,PA 19103 Re: NOTICE OF CONTRACT RENEWAL PROFESSIONAL CONSULTING SERVICES Contract No.CSC No.49145(the"Contract') Renewal Term No. 1:June 9,2018 to June 8,2019 The above referenced Contract will expire on June 8,20I8. Pursuant to the Contract, contract renewals are at the sole option of the City. This letter is to inform you that the City is exercising its right to renew CSC No.49145 for an additional one year period,which will begin immediately upon the expiration of the current term and will end on June 8,2019.All other terms and conditions of CSC No.49145 remain unchanged. Please return this signed acknowledgement letter,along with a copy of your current insurance certificate,to the address set forth below,acknowledging receipt of the Notice of Contract Renewal. Please log onto BuySpeed Online at http://fortworthtexas.gg�+/purchasing to insure that your company information is correct and up- to-date. If you have any questions concerning this Contract Renewal Notice,please contact me at the telephone number listed below. Sincerely yours, Kecy I ng,Buyer LOFFICIAL RF-CORD Purchasing Division C�AW8I7-392-2057-Direct817-392-8440-Fax ffpt I hereby acknowledge receipt of the Contract Renewal Notice for CSC No.49145 for a one year period ending on June 8,2019. By: Michael Nadol Managing Director Date: 05/09/2018 Printed Name and Title Signature CITY OF FORT VpnR,, TEST: Susan anis,Assistant City Manager Mary 1.ICayser,City Secretary Date: �`�12-+C�� C-2823 O� Y�RT�O APPRO FED 4TO FORM AND LEGALITY: Assistan ty A cJ CSC No. NOTICE OF CONTRACT RENEWAL PROFESSIONAL CONSULTING SERVICES Contract No.CSC No.49145(the"Contract') Renewal Term No. 1:June 9,2018 to June 8,2019 e RECOMMENDED BY: Margaret se,Assistant Director,Human Resources 401 Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration of this contract,including ensuring all performance and reporting requirements. Name Employee Titl : City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 5/16/2017 DATE: Tuesday,May 16,2017 REFERENCE NO.: **C-28238 LOG NAME: 14ACTUARIAL AND CONSULTING SERVICES SUBJECT: Authorize Execution of an Agreement in the Amount of$285,106.00 with PFM Group Consulting LLC,PFM Financial Advisors LLC,and PFM Asset Management LLC for Actuarial and Consulting Services Related to the City's Retiree Benefits (ALL COUNCIL DISTRICTS) RECOMMENDATION: It is recommended that the City Council authorize the City Manager to execute an Agreement with PFM Group Consulting LLC,PFM Financial Advisors LLC, and PFM Asset Management LLC for actuarial and consulting services for the City's retiree benefits with a total compensation of$285,106.00. DISCUSSION: The purpose of this Mayor and Council Communication (M&C)is to seek authorization to engage PFM Group Consulting LLC,PFM Financial Management Advisors LLC, and PFM Asset Management LLC (collectively PFM)to provide benefit modeling and actuarial services necessary to evaluate benefit and funding options for City consideration. The City currently offers a defined-benefit retirement plan for employees with the plan being administered by the Fort Worth Employees' Retirement Fund(the Fund). Ongoing rate-of-retum and funding concerns necessitate that the City revisit how it offers and funds retiree benefits to balance the goals of offering a competitive retirement benefit that helps attract and retain a well qualified workforce and having a financially stable and sustainable offering that does not overburden Fort Worth tax payers. This M&C would authorize engagement of PFM to assist in evaluating a variety of retirement benefit options and to provide actuarial analysis of how various options would impact the Fund and the City's current and future operating budgets. TERM AND RENEWAL— The initial term of the Agreement will be for one year with four renewal options of one-year each.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. M/WBE OFFICE-A waiver of the goal for MBE/SBE subcontracting requirements was requested by the Department and approved by the M/WBE Office,in accordance with the BDE Ordinance,because the purchase of goods or services from source(s)where subcontracting or supplier opportunities exist are negligible. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that funds are available in the current operating budget,as appropriated in the Human Resources Department within the General Fund. FUND IDENTIFIERS(FIDS): M Department Account Project Program Activity Budget Reference# Amount Fund ID ID year (Chartfield 2) FROM Department Account Project Program Activity Budget Reference# Amount Fund ID ID year (Chartfield 2) CERTIFICATIONS: Submitted for City Manager's Office by: Susan Alanis (8180) Originating Department Head: Brian Dickerson (7783) Additional Information Contact: Brian Dickerson (7783) ATTACHMENTS I. 1295,pdf (Public) 2. 170426-G3MDepartmental Waiver for Business Diversity Ordinance PFM.ndf (CFW Intemal) 3. FID.xlsx ( FW Internal)