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JEFFREY R. SMITH, CPA, CGFO, CGMA <br />Clerk of Circuit Court & Comptroller <br />P.O. Box 1028 <br />Vero Beach, FL 32961-1028 <br />Telephone: (772) 770-5185 <br />TO: Board of County Commissioners <br />FROM: Elissa Nagy, Finance Director <br />THROUGH: Jeffrey R. Smith, Clerk of Circuit Court and Comptroller <br />DATE: April 16, 2021 <br />SUBJECT: GRS Actuarial Services Agreement Renewal <br />On September 15, 2015 the Board awarded the actuarial services for the Board of County <br />Commissioners Other Post -Employment Benefits (OPEB) to Gabriel, Roeder, Smith and <br />Company (GRS) and entered into an agreement for six years. That agreement covered the time <br />frame October 1, 2015 through September 30, 2021 and included the option for one additional <br />two-year renewal term. Staff is satisfied with the services from GRS and requests to exercise the <br />two-year renewal option to extend the agreement through September 30, 2023. The attached <br />engagement letter details the services to be provided, which includes a full actuarial valuation of <br />the County's OPEB plan on October 1, 2021, and maintained the same fees charged over the last <br />2 -year cycle. <br />Recommendation: <br />Staff recommends the Board to approve the. attached document and authorize the Chairman to <br />execute them. <br />48 <br />