HomeMy Public PortalAbout15032 Acturial Consulting Ordinance 082818ORDINANCE NO. 15032
AN ORDINANCE, authorizing the Executive Director and Secretary-Treasurer
on behalf of The Metropolitan St. Louis Sewer District to enter into a contract with
Milliman, Inc., whereby Milliman, Inc. will provide actuarial services for the District's Pension
Plan, Defined Contribution Plan, Deferred Compensation Plan, accrued sick leave program,
vacation accrual, GASB 67 and GASB 68 Pension Accounting Reporting, GASB 75 OPEB
Reporting, and consultant services.
WHEREAS, the District staff on behalf of the Board of Trustees has received and
evaluated written proposals from firms to provide Defined Benefit Plan, Deferred Compensation
Plan, and Defined Contribution Plan actuarial consulting services.
NOW, THEREFORE, BE IT ORDAINED, BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. The Executive Director and Secretary-Treasurer are hereby
authorized on behalf of The Metropolitan St. Louis Sewer District to enter into a contract with
Milliman, Inc., whereby Milliman, Inc. will act as the employee pension fund actuarial
consultant for the District and provide actuarial services for the District's Pension Plan, Defined
Contribution Plan, Deferred Compensation Plan, accrued sick leave program, vacation accrual,
GASB 67 and GASB 68 Pension Accounting Reporting, GASB 75 OPEB Reporting, and
consultant services.
Section Two. The contract authorized in Section One of this ordinance shall
provide for an initial term of one (1) year with four (4) one-year renewal options, at an annual
fee of approximately Thirty Thousand Dollars ($30,000.00) and such other terms and conditions
as are approved by the Office of the General Counsel of the District.
The foregoing ordinance was adopted on October 11, 2018.