HomeMy WebLinkAbout(1) PR 15513: CONSULTING CONTRACT W/ A.R. PANZERA, CIMCCity of Port Arthur
Memorandum
To: Steve Fitzgibbons, City Manager
From: Rebecca Underhill, Assistant Cit g
Date: September 23, 2009
Re: PR 15513
This resolution was tabled at the October 6, 2009 meeting.
I recommend that the City Council adopt Proposed Resolution 15513 which approves a consulting
letter agreement with A. R. Panzera, CIMC, Benefit Plan Consultant to assist the City of Port
Arthur related to the City's Other Post Employment Benefit (OPEB), Retiree Health Insurance.
In 2008, the City contracted with First Southwest Company to serve as benefit consultants to the
City in an evaluation of options related to our OPEB liability. Mr. Ric Panzera was assigned to
our case. Mr. Panzera has since left First Southwest, and our contract with First Southwest is
complete. We have not completed our evaluation, nor set up our funding mechanism. This
agreement is based upon an hourly fee, until the project is complete, an estimated six months. '~
P.R. 15513
jja 10/9/09/09
RESOLUTION NO.
A RESOLUTION AUTHORIZING A CONSULTING
CONTRACT FOR THE SERVICES OF A. R. PANZERA,
CIMC, BENEFIT PLAN CONSULTANT RELATED TO
THE CITY'S OTHER POST EMPLOYMENT BENEFIT
(OPEB)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR:
THAT the City Council of the City of Port Arthur hereby authorizes the attached letter
agreement with A. R. Panzera to assist in the evaluation of the City's Other Post Employment
Benefit (OPEB); and
THAT a copy of said scope of services is attached hereto and made a part hereof as
Exhibit "A"; and,
THAT, A. R. Panzera will sign this resolution agreeing to the terms thereof.
THAT a copy of the caption of this resolution be spread upon the Minutes of the City
Council.
READ, ADOPTED, AND APPROVED, this day of October, 2009 A.D., at a
Regular Meeting of the City Council of the City of Port Arthur, Texas by the following vote:
AYES: Mayor:
Council members:
NOES:
Mayor
ATTEST:
Terri Hanks, City Secretary
APPROVED AS TO FORM:
~~.~~
Mark Sokolow, C' Attorney CON B ~ ~ R~ F b~~
APPROVED FOR ADMINISTRATION:
Stephen Fitzgibbons, City Manager
Rebecca Underhill, Assistant City Manager
APPROVED AS TO AVAILABILITY OF FUNDS:
Deborah Echols, Finance Director
AGREED TO:
A. R. (Ric) Panzera, CIMC
A. R. (ltic) Panzera, CIMC
Benefit Plan Consultant
September 29, 2009
Ms. Becky Underhill
Director of Finance
City of Port Arthur
444 Fourth Street
Port Arthur, Texas 77640
Dear Ms. Underhill:
Pursuant to our recent discussions, the following outlines my
engagement with the City of Port Arthur (the "City") regarding consulting
services related to the City's Other Post Employment Benefit Plan (the
"Plan"j.
I understand that the City seeks my consultation services related to
potentially reducing the liability of the City's Plan. Additionally, should
the City desire, I will assist the City to establish a funding methodology
utilizing a GASB 45-compliant trust. The City will separately retain
competent actuarial services to assist with plan liability mitigation. I will
be solely relying on the expertise and work product in connection with
the actuarial services performed.
The services implement a "stop and go" approach which requires a
discussion with the City after each service to determine the next step
and, if applicable, the desired level of the corresponding services.
Because of this approach, my services will be charged at an hourly fee of
$200/hour. I do not anticipate any expenses will be required in providing
these services, but should the City desire a personal consultation, travel
expenses may be incurred. All fees and expenses will be billed on a
monthly basis shall be paid within thirty (30j days after receipt of an
invoice therefore submitted by me.
Please acknowledge acceptance of these terms by signing in the space
provided below and returning one copy of this letter to me.
If you have any questions please do not hesitate to call. Thank you for
this opportunity to be of further assistance to the City.
Sincerely, Agreed and Accepted:
s ~---_.- sy:
A. R. (Ric) P ra, CIMC
Name:
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Title:
Date:
2317 Chinaberry aloe
Bedford, Texas 78021
817-540-2007 dMec;t
214.505.0884 cell
panzeraSCa~tx.rr.com a-mall