Title
Resolution authorizing the Mayor and the Director of the Department of Finance to enter into an agreement or agreements with Korn Ferry Hay Group, Inc. to provide actuarial services for the City of Pittsburgh for two years, with an optional two year extension, at a total cost not to exceed Four Hundred Thousand Dollars ($400,000.00).
Body
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. The Mayor and the Director of Finance, on behalf of the City of Pittsburgh, are hereby authorized to enter into an agreement or agreements with Korn Ferry Hay Group, Inc. to provide actuarial services for the City of Pittsburgh for the years 2018 and 2019, with an optional two year extension for 2020 and 2021, at a cost not to exceed One Hundred Thousand Dollars ($100,000.00) per year, subject to annual appropriation by City Council for future years.
Funds shall be paid from the following accounts:
$100,000.00 from 11101.107000.53.53501.2018
$100,000.00 from 11101.107000.53.53501.2019
$100,000.00 from 11101.107000.53.53501.2020
$100,000.00 from 11101.107000.53.53501.2021
Section 2. The Comprehensive Municipal Pension Trust shall reimburse the City annually for actuarial services provided to the pension plans through this Agreement. The City Controller is directed to deposit these reimbursements to the following JDE accounts:
Police: 11101.107000.43.43147
Fire: 11101.107000.43.43133
Municipal: 11101.107000.43.43143
Section 3. Said agreement or agreements shall be in a form approved by the City Solicitor.