RESOLUTION NO. _____________

BOARD OF SUPERVISORS, COUNTY OF SAN MATEO, STATE OF CALIFORNIA

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RESOLUTION A) WAIVING THE REQUEST FOR PROPOSAL PROCESS AND AUTHORIZING AN AGREEMENT WITH MILLIMAN, INC. FOR THE PROVISION OF TWO ACTUARIAL VALUATIONS OF THE COUNTY’S RETIREE HEALTH LIABILITY, FINANCIAL STATEMENT DISCLOSURES, AND PERIODIC VALUATIONS OF ALTERNATIVE PLAN DESIGNS, FOR THE TERM OF OCTOBER 1, 2010 THROUGH SEPTEMBER 30, 2012, IN AN AMOUNT NOT TO EXCEED $150,000; AND B) AUTHORIZING THE HUMAN RESOURCES DIRECTOR OR HER DESIGNEE TO EXECUTE SUBSEQUENT AMENDMENTS AND MINOR MODIFICATIONS, IN AN AMOUNT NOT TO EXCEED $25,000

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

 

WHEREAS, since September 2005, the County has contracted with Milliman, Inc. to provide actuarial services associated with the County’s liability for retiree health and other post-employment benefits (OPEB) to comply with Governmental Accounting Standards Board (GASB) standards; and

 

WHEREAS, to comply with new GASB requirements the County is required to conduct one full actuarial valuation as of January 1, 2011 and a second valuation as of June 30, 2011. In addition, the County requires assistance in completing GASB financial statement disclosures and conducting periodic valuations of alternative plan designs for union negotiation purposes; and

 

WHEREAS, it is in the County’s best interests to waive the formal request for proposal (RFP) process and to enter into an agreement with Milliman, Inc. to provide the requested actuarial service given: 1) the timeframe imposed by the new GASB requirements; 2) Milliman’s knowledge and expertise concerning the County’s complex retiree health benefits; and 3) Milliman’s prior role in conducting periodic valuations of alternative plan designs which must be updated and which may be utilized in connection with the current union negotiation process. The County will conduct a formal RFP process in 2012 for these services to coincide with the completion of this contract; and

 

NOW, THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the Board of Supervisors hereby waives the Request for Proposal process and authorizes an agreement with Milliman, Inc. for the provision of two actuarial valuations of the County’s retiree health liability, financial statement disclosures, and periodic valuations of alternative plan designs, for the term of October 1, 2010 through September 30, 2012, in an amount not to exceed $150,000, and the Clerk of the Board shall attest the President’s signature thereto; and

 

BE IT FURTHER RESOLVED that the Board of Supervisors hereby authorizes the Human Resources Director or her designee to execute subsequent amendments and minor modifications, in an amount not to exceed $25,000.

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