Agreement No. LW7-953-3735, Amendment No. 1 with Oliver Wyman Actuarial Consulting, Inc. for Actuarial Services.
Proposed Motion:
Move City Council approve Amended Agreement No. 1 with Oliver Wyman Actuarial Consulting, Inc. for Actuarial Services in an amount not to exceed $11,592.74 for a period of one year, beginning July 1, 2022 through June 30, 2023.
Background/Discussion
On March 23, 2017, City Council approved Agreement No. LW7-953-3735, with Oliver Wyman Actuarial Consulting, Inc. for actuarial services for a five-year period, with the option of up to two one-year extensions. Oliver Wyman Actuarial Consulting, Inc. has agreed to an extension under the same terms, conditions, and pricing.
Staff recommends the extension of the agreement for the term of July 1, 2022 through June 30, 2023.
Funding for this agreement is contingent upon City Council adoption of the FY 2022-23 budget.