16.
Commissioners Court - Regular Session
- Meeting Date:
- 12/06/2022
- Title:
- Approval of Agreement with Milliman, Inc. for Consulting Actuary Services for Benefits Division of Human Resouces Department
- Submitted For:
- Joy Simonton
- Submitted By:
- Johnny Grimaldo, Purchasing
- Department:
- Purchasing
- Agenda Category:
- Consent
Information
Agenda Item
Discuss, consider and take appropriate action on approving the agreement between Williamson County and Milliman, Inc. to provide Consulting Actuary Services for Williamson County in the not-to-exceed amount of $5,000.00 for “Off Cycle” year FY2023 and the not-to-exceed amount of $22,000.00 for “On Cycle” year FY2024, exempting the purchase from the competitive bidding requirements for said service established by Section 262.024 (a)(4) [a personal service] of the Texas Local Government Code Discretionary Exemptions and authorizing execution of the agreement.
Background
This agreement is for the renewal of service for the consulting actuary. Milliman, Inc. is an outside auditing company that provides consulting for Government Accounting Standards Board (GASB) 75 which replaced the GASB 45 that provides standards for accounting and financial reporting for Other Post Employment Benefits other than pensions (OPEB) that state and local governments provide to their retired employees. These benefits primarily involve health care benefits, but may include life insurance, disability. The Auditor’s office is required to provide this GASB 75 Report for the separate external auditors that review their financials. Milliman is utilized by the Texas County & District Retirement System (TCDRS) to prepare a similar report regarding the liability for the County regarding the retirement payouts hence they have all the demographics on our retirees and employee group which creates efficiency in hiring this firm. The funding source is 01.0885.0886.004181 for FY 23 and the point of contact is Shelley Loughrey.
Fiscal Impact
| From/To | Acct No. | Description | Amount |
|---|
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| County Judge Exec Asst. | Becky Pruitt | 12/01/2022 11:44 AM |
- Form Started By:
- Johnny Grimaldo
- Started On:
- 11/30/2022 01:36 PM
- Final Approval Date:
- 12/01/2022