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Meeting Date:
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6/28/2018 - 6:30 PM
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Category:
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Report of the Committee on Accountability, Finance, and Personnel
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Type:
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Action
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Subject:
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7. Action on a Request to Waive Administrative Policy 3.09(9)(e) and Enter into a Contract with Milliman, Inc. for Actuarial Consulting Services
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Strategic Plan Compatibility Statement:
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Goal 3 Effective and Efficient Operations
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Attachments
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Action on a Request to Waive Administrative Policy 3.09(9)(e) and Enter into a Contract for Actuarial Services: Proposed Contract
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File Attachment:
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Background:
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The Administration is requesting authorization to enter into a contract with Milliman, Inc. (“Milliman”) for Actuarial Consulting Services.
Milliman is a qualified consulting firm that will provide actuarial services for the district’s self-funded health and dental plans, fully insured post 65 Plan and other post-employment benefits. Initial analysis performed will be for the fiscal year ending June 30, 2019. The actuarial consulting service will provide various reporting throughout the fiscal year on the self-funded group plans, creditable coverage and minimum value testing, annual premium rates, trend rates, benefit expenditure forecasts and analysis of Federal Retiree Drug Subsidy and Medicare Part D Prescription Drug benefit.
Contractor was chosen pursuant to RFP 985, which closed on May 31, 2018. The contract will run from July 1, 2018 through June 30, 2021, (the “Initial Term”), with two additional one-year options to extend if certain performance metrics incorporated into the contract are met.
The waiver of Administrative Policy 3.09(9)(e) is being sought as a result of the three-year maximum contract term being surpassed if both one-year options are exercised after the Initial Term.
The total cost of the contract in the Initial Term will not exceed $300,000.
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Fiscal Impact Statement:
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This item authorizes expenditures as indicated in the attachment.
OBA-0-0-EMB-DW-ECTS, (Contract Services - Oth Busnsd) = $300,000
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Implementation and Assessment Plan
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Upon approval by the Board, the contract will begin as indicated in the attachment.
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Recommendation:
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Your Committee recommends that the Board authorize the waiver and contract as set forth in this item.
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Approvals:
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Recommended By:
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Signed By:
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Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer
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