HomeMy WebLinkAboutResolution BPW 01-18-23-22; CBIZ Benefits & Insurance Services, Inc; Administration Services AgreemeRESOLUTION NO. BPW 01-18-23-22
RESOLUTION OF THE CITY OF CARMEL BOARD OF PUBLIC WORKS AND SAFETY
ACKNOWLEDGING AGREEMENT BETWEEN CITY AND VENDOR
WHEREAS, pursuant to Indiana Code 36-1-4-7, the City of Carmel, Indiana (“City”), is authorized to enter
into contracts; and
WHEREAS, pursuant to Indiana Code 36-4-5-3, the City’smayor may enter into contracts on behalf ofthe
City; and
WHEREAS, pursuant to his authority under Indiana law, the City’smayor, the Honorable James C. Brainard,
has caused to be signed the Agreement attached hereto (the “Contract”); and
WHEREAS, Mayor Brainard now wishes to present the contract to the City’sBoard of Public Works and
Safety for it to be publicly acknowledged, filed in the Clerk’sOffice, and made available to the public for review.
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Board of Public Works and Safety as
follows:
1. The foregoing Recitals are incorporated herein by this reference.
2. The receipt of the Contract is hereby acknowledged.
3. The Contract shall be promptly filed in the office of the Clerk and thereafter made available to the public
for review.
SO RESOLVED this day of , 2023.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
BY:
James Brainard, Presiding Officer
Date:
Mary Ann Burke, Member
Date:
Lori S. Watson, Member
Date:
ATTEST:
Sue Wolfgang, Clerk
Date:
S:\\EBass\\MyDocuments\\BPW-Resolutions\\2023\\Acknowledge Agreement EBIZBenefits & Insurance Services, Inc.docx1/10/20239:58AM
18th January
DocuSign Envelope ID: E35D61E6-7B79-45EC-933E-FA86BEAE9A57
Not Present
1/19/2023
1/19/2023
1/19/2023
ON
CBIZ BENEFITS & INSURANCE SERVICES, INC.,
Vio
Administration Services Agreement (the "Agreement")
Plan Sponsor: City of Carmel
One Civic Square
Carmel, IN 46032
Plan Administrator: ( X ] Same as Plan Sponsor
j Plan Administration Committee appointed by Plan
Sponsor.
Service Provider: CBIZ Benefits & Insurance Services, Inc.
P.O. Box 31420
Independence, OH 44131
Attn: Legal Department
Effective Date: December 19, 2022
This Agreement is by and between the Plan Administrator and CBIZ Benefits & Insurance Services, Inc. ("CBIZ") on behalf of the Plan to
perform the services outlined in this Agreement. CBIZ understands that the Plan Administrator is the fiduciary with authority to contract on
behalf of the Plan. In addition, we require that the Plan Sponsor also sign this Agreement as a party, agreeing to be liable for payment of our
fees that are not permitted to be paid by the Plan pursuant to the Employee Retirement Income Security Act, (if applicable), as amended
ERISA") and/or applicable state law as well as the balance of our fees in the event of nonpayment by the Plan.
The undersigned, as a representative of the Plan Administrator, acknowledges that the Plan Administrator is the responsible plan fiduciary for
the Plan (that is, the fiduciary with authority to cause the Plan to enter into this Agreement), and hereby engages CBIZ to provide the services
described in this Agreement and each applicable Statement of Work ("Statement of Work" or "SOW").
The Plan Sponsor, Plan Administrator, and Plan are jointly referred to in this Agreement as "Client."
I. FidUciaiv AUthoriW, The Plan Administrator has the authorityto cause the Plan to enter into this Agreement.
ll. Services. CBIZ agrees to provide the following services in relation tothe Plan:
A Core Services. CBIZ shall perform the administration services for the Plan that are specified as Core Services in the attached Appendix A to
each applicable SOW.
B.Additional Services. CBIZ shall perform additional services requested by Plan Administrator, which may include such services as may be
specified in the "Additional Services" Section of each Appendix A.
C. CBIZ represents and warrants that it has the capabilities necessary to perform the services shown on each Appendix A and will do so in a
manner consistent with the standards of the industry, in a professional, timely and accurate manner.
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CBIZ BENEFITS & INSURANCE SERVICES, INC.
III. Fees_ BillinPrQ dures. V.
9.19.2022 A.
Fee Schedule. As compensation for its services under the Agreement, CBIZ shall be entitled to fees computed in accordance with the fee schedule
attached as Appendix B to each SOW ("Fee Schedule'), as amended from time to time in accordance with subsection (d)(x) below.
B.
Additional Services. Additional services requested by the Client will be billed on a fixed fee or an hourly basis at current hourly rates, as described
in each Appendix B of this Agreement, and shall be paid by the Client pursuant to the terms of this Agreement, C.
Third Party Compensation. In certain instances, CBIZ reasonably expects to receive compensation for its services under this Agreement from
third parties. In such instances, such compensation will be disclosed in each applicable Appendix D. D.
Fee Pavmgnt term$. 1.
The Plan (or, at its discretion, the Plan Sponsor) may pay the fees charged. If the fees are paid bythe Plan, they may be charged to the Plan'
s trust fund or to participant accounts (if and in the manner so permitted in the Plan document). 2.
Except as otherwise provided in Appendix B or C, the Core Service fees shall be billed at the end of the plan year quarterto which they apply (
e_g_. 2021 plan year fees for a calendaryear plan would be billed as of March 31, June 30, September 30, and December 31 of 2021),
If fees are based on the number of plan participants, such fees shall be based on an estimate of the number of participants in the
Plan for such year. Any adjustment required to the Core Service fees based on the actual number of participants in the Plan or any other
difference between the assumptions used for the Core Services and actual experience will be billed upon completion of the administration
work for the relevant year. 3.
Except as otherwise provided in Appendix B or C. fees for Additional Services shall be billed upon the completion of such services in a special
invoice or as part of the quarterly fee billingfor Core Services. CBIZ reserves the right to require prepayment of fees for any Additional
Service or to provide progress billing and payment of such billing while a lengthy project is being worked on. 4,
Invoices are due upon receipt if fees are to be paid to CBIZ out of the Plan, the Plan Administrator will instruct the investment manager, recordkeeper,
or other responsible parry, as applicable, to issue payment of those fees from Plan assets. 5.
Balances not paid within 30 days afterthe initial invoice date will be subject to a one percent (1%) per month service charge for each month
or partial month until the invoice is paid in full. 6.
If the Plan does not pay the fees within sixty (60) days of the date of the applicable invoice, the Plan Sponsor hereby agreesthat it will be obligated
to pay the fees. 7.
It is the Plan Administrator's responsibility to determine that all fees for services provided by CBIZ in accordance with the attached Fee Schedule(
s) are reasonable expenses to the extent payable by the Plan. If the Plan Administrator objects to an amount charged on an invoice,
the Plan Administrator should advise CBIZ of such objection within 15 days after the initial invoice date and should pay all amounts
not in dispute. CBIZ will work with the Plan Administrator to resolve any dispute as to fees on a prompt basis. Any amount from the
original Invoice that was disputed but ultimately resolved in CBIZ's favor shall be subject to the service charge discussed in subsection (
v) above. 8.
If fees are not paid within 60 days, CBIZ may cease work on any matter until the account is brought current. If fees are outstanding more than
90 days, CBIZ may withdraw from this engagement immediately at its discretion. CBIZ's withdrawal undersuch circumstances does not
affect Client's obligations to pay any outstanding balance. 9.
CBIZ is not responsible for any late tax filings or penalties, fines, taxes, or other charges that may be assessed as a result of its nonperformance
of services while fees remain unpaid, as discussed in subsection (viii) above. 10.
Fees may be altered at any time by CBIZ in its discretion bythe provision of a new Appendix B to an applicable SOW, to be effective not less
than 60 days after such notice is provided. Notwithstanding the foregoing, the amount of Core Service Fees, as reflected on each applicable
Appendix B to this Agreement shall be increased automatically effective annually, beginning on the first anniversary of the Effective
Date of this Agreement, and continuing each year thereafter, at the rate of three percent (3%) per year. No additional or separate
notice of this annual increase needs to be provided. IV.
i.1m1r n n a . Unless provided through a separate written agreement, CBIZ does= perform the following services: A. Investment
Advice. CBIZ does not and will not provide investment advice, for a fee or otherwise, to any person including Client, the Plan, or the Plan'
s participants and beneficiaries. B. Fiduciary
Services. Client has sole discretionary authority and control over the administration of the Plan, and exclusive control over the assets of
the Plan. Unless explicitly provided elsewhere in this Agreement, and only to the extent so provided, Client acknowledges that neither CBIZ
nor any of its employees are fiduciaries of the Plan and Trust, nor is any of them the Administrator of the Plan as that term is defined in
the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). Client acknowledges that the Plan Administrator is the
Plan Administrator under ERISA or applicable State law and, as such, is responsible for all administrative duties incident to the maintenance of
the Plan and Is a "named fiduciary," as defined in ERISA or applicable State law. Page 2
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CBIZ BENEFITS & INSURANCE SERVICES, INC. V.9.19.2O22
C. Discretionary Services. Except as otherwise provided in this Agreement or its Appendices, CBIZ has no discretionary authority, control, or
responsibility over the Plan or over the administration of Plan assets. Neither CBIZ, nor its officers, employees, and agents shall have any
liability whatsoever for the payment of any damages, interest, taxes, fines, or penalties which arise out of or are in connection with any acts
or omissions of a Plan trustee, sponsor, fiduciary, administrator, or party -in -interest.
D. Legal or Accounting Services. CBIZ is not a law or accountingfirm and does not provide legal or accounting advice. Client should consult
with an attorney or accountant experienced in employee benefit plan matters regarding any questions or concerns that Client may have
relative to the Plan.
V. Client ResnonsrrLilrtirs. Client acknowledges and represents that:
A. Client shall be responsible for the items discussed in this section and in Appendix C to each applicable SOW to this Agreement which
outlines additional Client Responsibilities as between Client and CBIZ only.
B. CBIZ shall not be liable for any acts or omissions with respect to the Plan that were committed priorto the Effective Date of this Agreement.
C. Timely Provision of Accurate and Complete Information- Client shall provide CBIZ with requested information on a timely basis (i.e., within
the time frame specified by CBIZ when the request is communicated to Client), and will be responsible for ensuringthat the provided
information is accurate and complete. CBIZ will rely exclusively on information provided by Client or Client's authorized advisors, whether
oral or in writing, and will have no responsibility to independently verify the accuracy of that information. Client acknowledges that
inaccurate information and/or late information could result in penalties and excise taxes and possibly Plan disqualification. CBIZ assumes
no responsibility for, and shall not have any liability for, any consequences that result from CBIZ's inability to complete its work in the
ordinary course of its business due to the failure of Client to provide information to CBIZ in accordance with agreed upon timelines. If it is
necessaryfor CBIZ to repeat any portion of its services due to incorrect or incomplete information or instructions provided by the Plan
Sponsor, CBIZ will charge an additional fee to be determined when the error is discovered.
D. Timely Deposit of Contributions and (if applicable) Loan Repayments. Client shall be solely responsible for making sure contributions and,
if applicable, loan repayments are funded to the Plan's trust if/when required for tax deductibility and to comply with applicable law,
regulations, and plan policy, including ERISA and DOL Regulations. state law, and the Plan's funding policy, regarding the fund and timing
of contributions and participant loan repayments.
E. Timely Filing of Government Reports. Except as otherwise provided in this Agreement or its Appendices, Client shall be responsible for the
timelyfiling of all government reports with the appropriate agency. Client acknowledges that failure to timely file required government
reports may result in penalties which shall be the sole responsibility of Client (and not of CBIZ) if assessed.
F. Information to be Provided to Participants and Beneficiaries. Client shall be responsible for providing the necessary information to Client's
participants, including notices, elections, and reports required by law.
G.Information Regarding the Plan Sponsor, Participating Employers, Other Plans, and Business Acquisitions and Dispositions. The Plan's
operation and tax qualification may be affected by other plans sponsored by Client (whether currently active or terminated and whether or
not CBIZ administered the plan), and by other entities owned partially or entirely by, or related to, Client, its principals, or its owners, and
their affiliates. Client is responsible for informing CBIZ of the existence of any such other plans and of notifying CBIZ when there is a
change in this information or in the tax filing status of Client/Plan Sponsor, as applicable (e.g., a change from S corporation to C
corporation status, a change to an LLC, etc.).
H. Discretionary Decisions. Except as otherwise provided in this Agreement or its Appendices. Client is responsible for all discretionary
decisions relating to the Plan, including the interpretation of plan document provisions, and the work performed by CBIZ involves the
ministerial carrying out of such decisions. To assist Client, CBIZ may, when requested, provide advice to Client about administrative
matters (but not about investments).
I. Bonding Obligations. ERISA Section 412 requires that, with certain exceptions, every fiduciary of an employee benefit plan and every
person who handles funds or other property of a plan shall be bonded in accordance with the provisions of that section. To the extent the
Plan is subject to this requirement, Client is responsible for obtaining any necessary bond.
VI. riot of Disclosure- The law requires that service providers give its Clients an estimate of their fees a reasonable time before a Client
enters into the services contract. This Agreement, including the Appendices, together constitute CBIZ's compliance with this law, as
applicable.
VI I. 1 nfprmation Privacy. CBIZ and Client agree that they will not (a) use any non-public personal information, regardless of the source of the data,
for any purpose other than communicating with Client, participants and beneficiaries; (b) sell, sublicense, or resell non-public personal
information to any third party; (a) use the non-public personal information for any unlawful purpose; (d) use the non-public personal
information for any purpose other than its own internal purposes: (e) use the non-public personal information to identify or solicit potential
plan sponsors for its products; or (f) use the non-public personal information for any purpose that would violate the privacy obligation policy
and any other terms and provisions of the Gramm -Leach -Bliley Act (15 U.S.C. § 6801 at seq.) orthe Federal Fair Credit Reporting Act (15
U.S.C. § 1681 at seq.). CBIZ represents and warrants that it is in compliance with all applicable laws and regulations with respect to any non-
public personal information it receives with respect to any Plan participant or beneficiary.
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CBIZ BENEFITS & INSURANCE SERVICES, INC. V.9.19.2022
VIII. Limitation or Liability. Unless otherwise prohibited bylaw or applicable professional standard, Client agrees that CBIZ, any entity related to it
and their respective personnel, current or former, shall not be liable to Client, Plan participants, Plan Trustee(s) or any other party for any
claims, liabilities, or expenses relating to this Agreement in connection with any service provided by CBIZ except to the extent that CBIZ has
engaged in willful misconduct or fraud, In addition, CB)Z's liability shall be limited for each SOW to the amount of the fees paid by Client to
CBIZ pursuant to such SOW for the year in which the error occurred. Unless otherwise prohibited bylaw or applicable professional standard,
CBIZ, any entity related to it or their respective personnel, current or former, shall not be liable for consequential, special, indirect, incidental,
punitive, or exemplary losses or damages relating to this Agreement. Furthermore, CBIZ, any entity related to it, or their respective personnel,
current or former, shall not be liable for the cost of procurement of substitute services, technology or rights or for the interruption use or loss
or corruption of data arfor any breach of cybersecurity that occurs despite their best efforts at maintaining the security of computer files. This
limitation on liability provision shall apply to the fullest extent of the law, whether in contract, statute, tort (such as negligence), professional
standard, or otherwise, and shall survive the termination of this Agreement.
IX. Termination.
A. Either the Plan Administrator or CBIZ may terminate this Agreement at anytime without cause after providing 60 days' advance notice_
Client agrees to pay the reasonable costs related to the transition of the administrative services to a successor service provider, which
shall be billed as Additional Services using CBIZ's standard hourly rate and must be paid by Client prior to the provision of any transition
services.
B. If either Client or CBIZ materially breaches this Agreement, the nonbreaching party must provide notice of such breach and 30 days within
which the breaching party may cure the breach. If the breach remains uncured after such time, the nonbreaching parry then may terminate
this Agreement immediately.
C. CBIZ may terminate this Agreement immediately in the event of nonpayment of fees, as discussed above in Section 3(d)(viii).
D.This Agreement shall be deemed terminated if the Plan is terminated upon the distribution of all plan assets and preparation of all
applicable final regulatory filings, as applicable.
E. Upon termination of this Agreement, all fees owed to CBIZ, including fees for administrative services for the current year earned through
the date of termination of the Agreement, will be immediately payable in full.
F. No prepaid fees are refundable upon termination of this Agreement.
X. Miscellaneous.
A. Disclosure of Fee Information Required by Form 5500, where applicable_ For any client for whom a Form 5500 must be filed, certain
information regarding CBIZ's fees must be disclosed on an annual basis such Form 5500, If CBIZ prepares Client's Form 5500, CBIZ will
disclose that information as part of such preparation. IF CBIZ does not prepare the Form 5500. it will provide the necessary information to
the Form preparer upon reasonable request (and with timely and appropriate notice) to enable the Form 5500 to be completed on a timely
basis.
S. Notices. Any and all notices required or permitted under this Agreement shall be in writing and shall be sufficient in all respects if (i)
delivered personally, (ii) mailed by registered or certified mail, return receipt requested and postage prepaid, (iii) sent via a nationally
recognized overnight courierservice to the address on the first page of this Agreement, or such other address as any party shall have
designated by notice in writing to the other party, or (iv) as otherwise mutually agreed by the parties. In addition, Client expressly agrees to
accept electronic communication of any notice, advice, or report in lieu of a printed copy at the email address listed on the first page of this
Agreement or such other email address as Client may designate in writing to CBIZ. Client may revoke this consent at any time by providing
notice to CBIZ pursuant to this section.
C. Assignability. This Agreement is not assignable by either party hereto without the prior consent of the other party. Consent shall not be
required, however, where an entity becomes an assignee due to the purchase of substantially all of the assets or stock of CBIZ or by virtue
of becomingthe successor to CBIZ's business (whether by merger, consolidation, stock sale, or otherwise).
O.Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, successors, survivors,
administrators, and assigns.
E. Entire Understanding and No Third Party Beneficiaries. This Agreement supersedes all written and oral agreements, communications or
negotiations among the parties and it constitutes the complete and full understanding and agreement ofthe parties with regard to the
services to be provided pursuant to this Agreement. None of the provisions of this Agreement shall be for the benefit of, or enforceable by,
any person (other than the Plan, the Plan Sponsor, the Plan Administrator. or CBIZ or its affiliates) including, without limitation, any
participant or any beneficiary covered by the Plan.
F. Severabllity, If any one or more of the provisions of this Agreement shall, for any reason, be illegal or invalid, such illegality or invalidity shall
not affect any other provision of this Agreement and this Agreementshall be enforced as if such illegal or invalid provision had not been
contained herein.
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CBIZ BENEFITS & INSURANCE SERVICES, INC. V.9.19.2022
G.Headings. All headings used herein are for ease of reference only and in noway shall be construed as interpreting, decreasing or enlarging
the provisions of this Agreement
H.Applicable Law. The laws of the State of Ohio shall govern this Agreement in all respects, including but not limited to the construction and
enforcement thereof, unless preempted by ERISAor other federal law.
Arbitration Agreement. To the extent permitted by law, all controversies between Client and CBIZ, which may arise out of or relate to any of
the Services provided by CBIZ underthis Agreement, or the construction, performance, or breach of this or any other agreement between
CBIZ and Client, whether entered into prior to, on or subsequent to the date hereof, shall be settled by binding arbitration in Cleveland,
Ohio, under the Commercial Arbitration Rules of the American Arbitration Association. Judgment upon any award rendered by the
arbitrator(s) shall be final and binding on the parties, and judgment upon the award rendered may be entered in any court, state or federal,
having jurisdiction. Client understands that this agreement to arbitrate does not constitute a waiver of the right to seek a judicial forum
where such waiver would be void under applicable federal or state securities laws.
IN AGREEING TO ARBITRATION, CBIZ AND CLIENT ACKNOWLEDGE THAT, IN THE EVENT OF A DISPUTE ARISING FROM THIS
AGREEMENT, THEY ARE EACH GIVING UP THE RIGHT TO HAVE THE DISPUTE DECIDED IN A COURT OF LAW BEFORE A JUDGE OR JURY
AND INSTEAD EACH ACCEPTS THE USE OF ARBITRATION FOR RESOLUTION.
J. Amendments. This Agreement and/or its Appendices may be modified with the written consent of both the Plan Administrator and CBIZ.
CBIZ may modify its fees at any time, as discussed in Section 3(d)(x) above. In addition, if CBIZ provides the Plan Administrator with an
amendment to the Agreement clearly identified as an amendment of this Agreement, and the Plan Administrator does not object to the
amendment within 60 days of receipt, such amendment shall be considered to have been agreed to by the Plan Administrator when
actions are taken by the Plan Administrator that indicate an intention to continue performance underthis Agreement. Such actions
include, without limitation, the response to requests for information by CBIZ, the initiation of additional work or projects, or the payment of
fees in compliance with the new agreement by the Plan Administrator after the date such amendment is provided.
K. Waiver of Limitation. Nothing in this Agreement sha 11 in any way constitute a waiver or limitation of any rights which Client or Plan or any
other party may have under ERISA or federal or state laws. Furthermore, no failure by CBIZ to exercise any right, power, or privilege that it
may have under this Agreement shall constitute a waiver of its ability to exercise that right. power, or privilege in either that or any
subsequent situation.
L. Execution. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all
counterparts, together, constitute only one Agreement.
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CBIZ BENEFITS & INSURANCE SERVICES, INC. V.9.19.2022
The undersigned Plan Administrator has full power and authority under the provisions of the applicable instruments governing the Plan, to
execute, deliver and perform the obligations under this Agreement. The execution and delivery of this Agreement and the appointments and
investments contemplated hereby have been duly authorized in accordance with the provisions of the instruments governing the Plan and
underlying trust and are in accordance with all requirements applicable to the Plan's governing instruments and under ERISA cif applicable),
and other applicable law.
This Agreement shall not be binding on CBIZ until accepted by it, in writing, as indicated by its signature below.
Plan Administrator: Service Provider.
City of Camtel CBIZ Benefits & Insurance Services, Inc.
By:
Print Name:
Jim Brainard
Title: Mayor
Date: 1-5-2023
By:
Print Name:
YTa SS 2I
Title:
Srt t]. . LO
Date:
L,1'20z'3 -
Client agrees that CBIZ may utilize its name in representative client lists.
I YES, Client agrees that CBIZ may utilize its name in representative client lists
X) NO, Client does not agree to permit CBIZ to utilize its name in representative client lists
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CBIZ BENEFITS & INSURANCE SERVICES, INC. V.9.19.2022
Plan: City of Carmel Postretirement Benefit Plan
STATEMENT OF WORK # i I APPENDIX A
RETIREMENT PLAN SERVICES: NUN -FIDUCIARY
This SOW #1 shall become an SOW to the Administration Services Agreement between the City of Carmel and CBIZ Benefits & Insurance
Services, Inc. ("CBIZ") dated December 19, 2022 (the "Agreement'). The signature(s) below authorize adding this SOW to the Agreement:
Plan Administrator: Service Provider.
City of Carmel CBIZ Benefits & Insurance Services, Inc.
Print Name:
JiM Brainard
Print Name:
Title: Mayor Title:
nasCo5
Date: 1-5-2023 Date:
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CBIZ BENEFITS & INSURANCE SERVICES, INC.
Subject to the terms and conditions described in the Agreement, CBIZ shall provide services as set forth below.
V.9.19.2022
The services that are reported as Core Services represent services that the Client authorizes CBIZ to provide on behalf of the Plan. Additional
Services represent services that CBIZ will not be responsible for unless engaged by the Client to be provided for an additional fee. Any
Additional Services, regardless of how engaged via written project plan or otherwise, will be performed and governed by the terms and
conditions set forth in this Agreement.
The fee arrangements for services provided are identified based upon the following categories:
Included in core services fees
Hourly time charges (See AppendixB Billable Rate Schedule)
Flat Fee (per event) - Fee amount as indicated
Total fees for services to be provided are outlined on Appendix B.
Review and Match of Prior Actuarial Valuation
Review prior actuary s most recent valuation report and match results, within reason,
with available data In order to complete initial Interim -Year GASB 75 Financial Disclosure
Funding and GASB Actuarial Valuation
Included
Review of the Plan Administrator's program to address the valuation date, current
number of eligible active and retired employees, current costs, historical cost increases, Included
employee turnover, thellne, and other pertinent information
Provide the Plan Administrator with a detailed data request, discuss all required data,
and establish a mutually agreed upon timeline to supply all necessary data Included
Determine and discuss all assumptions including turnover, mortality, healthcare trend,
morbidity, retirement rates, spousal participation rates, starting per -capita health care
Included
costs, discount rate, and investment return
Review the investment and contribution policies in accordance with the discount rate +
calculation process under GASB Nos. 74 & 75, and/or recommend establishing formal i
Included
policies to take advantage of funding methodologies
Summarize liabilities and Actuarially Determined Contributions as of the valuation date Included
with adequate supposing detail. Examples will be used, as applicaole
Provide formal actuarial valuation report and certification. This report can be shared with
all auditors and the general public Included
Interliri-Year Financial Disclosures under GASB No_ 74 and 75
Provide "roll -forward" of actuarial valuation results to interim -year measurement dates.
These reports can be shared with all auditors and the general public I Included
Update actuarial assumptions and methods, as applicable Included I
Disclosure of actual benefit payments and investment statements for Plan assets Included
Additional Services
Deterministic or Stochastic funding projectlons/mode ls Hourly/ Flat Fee
Analysis of potential plan design changes i Hourly/ Flat Fee
Actuarial Equivalence Testing and Attestation for Retiree Drug Subsidies through the
Center for Medicare and Medicaid Services Hourly / Flat Fee
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CBIZ BENEFITS & INSURANCE SERVICES, INC. V.9.19.2022
STATEMENT OF WORN #1 1 APPENDIX B
FEES AND CHARGES
Subject to the terms and conditions described in the Agreement, CBIZ shall provide services as set forth below.
The services that are reported as Core Services represent services that the Client authorizes CBIZ to provide on behalf of the Plan. Additional
Services represent services that CBIZ will not be responsible for unless engaged by the Client to be provided for an additional flee. Any
Additional Services, regardless of how engaged via written project plan or otherwise, will be performed and governed by the terms and
conditions set forth in this Agreement.
The fee arrangements For services provided are identified based upon the following categories:
Included in core services fees
Hourly time charges (See Appendix B Billable Rate Schedule)
Flat Fee (per event) - Fee amount as indicated
CORE SERVICES
Initial -Year Review and Matching of Prior Actuarial Valuation Report ...... ..................... ......................................... _.........Waived
Interim -Year GASS No. 75 Disclosure upon request ................. ................................... ............................................................. $2,375
Actuarial Valuation and GASS No. 75 Disclosure upon request............................................................................................$9,500
TECHNOLOGY FEE
60% technology fee will be added to all invoices for Actuarial and Administration services.
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CBIZ BENEFITS & INSURANCE SERVICES, INC.
ADDITIONAL SERVICES
V.9.19.2022
Fees will be charged based on time and expense. A written project plan and fee estimate will be provided in advance of commencing any work
on any Additional Services where the fee is expected to exceed $5,000. Where CBIZ is able to work on a fixed -fee basis for these services, we
will provide a firm written fixed -fee quote in lieu of an estimate. Any Additional Services, via written project plan or otherwise, shall be
governed by the terms and conditions of the Agreement.
The table below illustrates our hourly rates In effect as of January 1, 2021 that will apply with respect to Additional Services.
Executive/Senior Vice President 500 - $750
Vice President/Actuary 400 - $550
Managing Consultant 300 - $400
Consultant 250 - $325
Associate 150 - $275
Clerical Support 95
CBIZ hourly rates establish the benchmark for the value of our services. Our hourly rates are adjusted from time to time; generally, such
changes occur on a firm -wide basis once every twelve months. We are keenly aware of time expenditures and make every effort to achieve
the most cost -beneficial mix of hours, rates, and experience in responding to your actuarial, consulting and administrative needs.
In determining the fee in unique situations, CBIZ may also take into account such factors as the novelty and complexity of the issues involved,
the skills required, familiarity with the specific area, the magnitude ofthe matter, the results achieved, customary fees for similar actuarial
services, and time limitations imposed by you or by circumstances. CBIZ final fees may be revised upward or downward from the fee amount
calculated on an hourly basis in order -to reflect these types of factors.
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DocuSign Envelope ID: E35D61E6-7B79-45EC-933E-FA86BEAE9A57
CBIZ BENEFITS & INSURANCE SERVICES, INC, V.9,19.2022
STATEMENT OF WORK #1
APPENDIX C
PLAN SPONSOR / PLAN ADMINISTRATOR RESPONSIBILITIES
All terms defined in the Agreement shall apply to this Appendix C.
SECTION 1; PLAN SPONSOR/PLAN ADMINISTRATOR
GENERAL RESPONSIBILITIES
In conjunction with the services described in Appendix A, the Plan Sponsor/Administrator agrees to perform all fiduciary duties and
responsibilities, including but not limited to those listed below, on a timely basis:
Provide CBIZ with complete, accurate, and reliable information, data, documents and other records necessary for CBIZ to perform the
services set forth in Appendix A and this Appendix C and provide CBIZ with requested management decisions, approvals and
acceptances.
Maintain the Plan(s) in full compliance, both as to operation and form, with ERISA, the Internal Revenue Code of 1986 (as amended) and
all rules and regulations promulgated pursuant thereto ("Internal Revenue Code"), and all other applicable federal, state and local laws,
regulations, and ordinances.
Retain an independent certified public accountant to audit the Plan(s) and provide the required audited financial statements on a timely
basis.
Except as outlined in Section 2 below or as may be included in Appendix A, file all forms, documents and reports required to be filed with
the appropriate government agencies (i.e. IRS, DOL, PBGC, etc.).
Be solely responsible for all services and functions other than as specified in Section 2 below or Appendix A.
Be solely responsible for payment of fees and other expenses and otherwise maintaining relationships with benefits payors, claims
administrators, and any other third party service providers with respect to or on behalf of the Plan(s).
Maintain all plan related records (at both the Plan and employee levels) in compliance with DOL regulations under ERISA and IRS
regulations under the internal Revenue Code, including copies of reports provided by CBIZ.
Cooperate and assist with CBIZ in its attempt to fulfill its responsibilities under this Agreement, as specified in Section 2 below and
Appendix A.
PLAN DOCUMENT
CBIZ has not been engaged to provide Plan Document services.
ADMINISTRATION
CBIZ has not been engaged to provide Third Party Administration services.
DISTRIBUTIONS AND LOANS
CBIZ has not been engaged to provide Distribution and Loan services.
GOVERNMENT FILINGS
CBIZ has not been engaged to perform Form 5500 [and other Government Forms] preparation services
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DocuSign Envelope ID: E35D61E6-7B79-45EC-933E-FA86BEAE9A57