HomeMy WebLinkAbout4842 Contract Number: 4842
Vendor: WILLIS OF WISCONSIN INC
Subject: GASB 45 Valuation - Current Retiree Medical Benefits
Department: City Clerk
File Class: LEG 12-1
Begin Date: 06/29/2009
End Date: 08/15/2009
Review Date: 02/15/2011
Vault Date: O1/O1/2011
Comments :
Direct Line: 414-203-5261
DirectFax.: 414-203-5380
E-inllil: elete andtnon@willis C.oJll
J \lile 8. 2009
Ms. Carol .&goo.
City Clerk
City ofBremerton
345 6tb 8T, #600
Bremelton WA 98337
Re: Engagement Letter for City of Bremerton GASB No. 45 Wwk
Dear Ms. Etgen:
This is Out engagement letter to perfonn the 2009 City ofBlemerton GASB No. 45 valuation
work
LengOl of engagement
Willis HRH win perform the City ofBremeIton 2009 GASB No. 45 valuation
Name and contact of lead acfuary
Ms. Sheryl Henry, F'SA, MAAA
Vice President
Willis of Wisconsin. Inc.
National Actuarial Pmctice
One Plaza Ea..<;t - Suite 1400
330 East Kilboum Avenue
Milwllul{ee, WI 53202-3195
Direct phone: 414.203.5248
Fax: 414.203.5380
E-mail: SheryLhenry@WilIiscom
Type and soope of seT vices to be provided
Willis will perform a valuation of the current retiree medical benefit programs Ihis
va1uation will be done in accprdance with G/I.SB No. 45, accounting fOJ other post
employmem benefits
Any limitations afservices
Our proposal assumes that results will be presented and diSCUSBed by pbone lIIld that we
will be perfonning a valuation of the cunent pmgraDl
City of Bremert071 's respollu.bility (data povision)
Ms. Cmol Elgen
City ofBremerton
June 8. 2009
Page 2
The City of Bremetton will provide data as requested by Willis HRH (under Sepal ate
cover) in time to meet the scheduled deadline.
Schedule dates for performance and completion of selvice'I
We will provide the final wm.ation 10 the City ofBremerton within the next 45 days.. Data
collection should be completed as quickly as possible.. Willis HRU will provide Bud
discuss the preliminaIy repOIt flS soon as it is ready, and ",ill provide the final report by the
deadline. Willis HRH will also respond to questions from auditors as they arise
Fees
Our fee to perform the valuation. including all aspects through completion of the fmal
reports and answering questions from the auditors, is $7,500..0.0.. Work outside the scope of
the project, such as modeling pian altematives, will be charged at $300/hour or a fIXed fee
as desired
Payment terms
We will invoice the City of Br emenon after delivering the final report. Payment is due
within 30 days of Nceipt.
Record retention
Willis HRH will retain recOJds for at least seven years.
Confidentiality
Willis HRH js HIP AA compliant The cwporation maintains written policies and
procedures to ensure compliance with the privacy requirements ofIUPAA
If you ha...-e an questio~s re g this letter please contact me at 414 203 5261
ChOOS'1gUSr;2;fy - _
~~{_....._~ Dao/~?LIJ?
Ciete Anderson :
Willis of Wisconsin, lnc
Vice President
National Actuarial Practice
lhank you for
~.w9
Willts HRH
National.tJ.ctpatiol Proence
~ jO East Kilboultl Avenue' Suite 14fJfJ · Milwaulree, WI 53202-3195
Ph: (414) 171.9800 -(800j 558-.1536. Fax: (414) 271-280.5
Website: Wl'''\l1wil/is com