Staff Report
PREPARED BY: STEPHEN CONWAY
Finance Director
Reviewed by: Town Manager, Assistant Town Manager, and Finance Director
_____________________________________________________________________________________________________________________
110 E. Main Street Los Gatos, CA 95030 ● 408-354-6832
www.losgatosca.gov
TOWN OF LOS GATOS
COUNCIL AGENDA REPORT
MEETING DATE: 06/18/19
ITEM NO: 4
DATE: JUNE 6, 2019
TO: MAYOR AND TOWN COUNCIL
FROM: LAUREL PREVETTI, TOWN MANAGER
SUBJECT: AUTHORIZE THE TOWN MANAGER TO EXECUTE A FIRST AMENDMENT TO
THE AGREEMENT FOR ACTUARIAL SERVICES WITH BARTEL ASSOCIATES
FOR A TOTAL CONTRACT AMOUNT NOT TO EXCEED $58,400.
RECOMMENDATION:
Authorize the Town Manager to execute a first amendment to the agreement for actuarial
services with Bartel Associates for a total contract amount not to exceed $58,400.
BACKGROUND:
In March 2007, the Town issued a Request for Proposal (RFP) for actuarial consulting services.
The Town received five proposals from qualified actuaries. Bartel Associates was selected due
to their familiarity with the Town, professional expertise and reputation, and their experience
performing Governmental Accounting Standards Board (GASB) studies for many similar sized
California cities.
DISCUSSION:
Over the past two years, Bartel Associates have been newly engaged in additional analysis
related to the Town’s Pension and Other Post-Employment Benefits (OPEB) Trusts Oversight
Committee which resulted in increased costs to the Town. Additional services have included
initiating an annual review of the CalPERS generated actuarial valuations for the Town’s
pension plans and analysis regarding the effects of additional lump-sum payments to the OPEB
plan. Staff anticipates engaging Bartel to perform additional lump-sum payment analysis in the
coming year. In addition, the firm also provided services related to labor negotiations.
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SUBJECT: AUTHORIZE THE TOWN MANAGER TO EXECUTE A FIRST AMENDMENT TO THE
AGREEMENT FOR ACTUARIAL SERVICES WITH BARTEL ASSOCIATES FOR A
TOTAL CONTRACT AMOUNT NOT TO EXCEED $58,400
JUNE 4, 2019
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6/13/2019 9:48 AM
CONCLUSION:
Authorize the Town Manager to execute a first amendment to the agreement for actuarial
services with Bartel Associates for a total contract amount not to exceed $58,400.
FISCAL IMPACT:
There are sufficient funds for this amendment available in the FY 2018/19 budget.
ENVIRONMENTAL ASSESSMENT:
This is not a project defined under CEQA, and no further action is required.
Attachment:
1. First Amendment to Agreement for Services containing the original agreement.