2023-173A - Laserfiche WebLink

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The ACTUARY will cooperate fully with the COUNTY in order that all phases of the work may be properly scheduled and coordinated. The ACTUARY shall report the status of the Services under this Agreement to the County Project Manager upon request, and hold all drawings, calculations and related work open to the inspection of the County Project Manager or his authorized agent at any time, upon reasonable request. All documents, reports, maps, contract documents, and other data developed by the ACTUARY for the purpose of this Agreement, are, and shall remain, the property of the COUNTY. The foregoing items will be created, maintained, updated, and provided in the format specified by the COUNTY. When all work contemplated under this Agreement is complete, and upon final payment, all of the above data shall be delivered to the County Project Manager. The ACTUARY shall not assign or transfer any work under this Agreement without the prior written consent of the COUNTY. ACTUARY is registered with and will use the Department of Homeland Security's E -Verify system (www.e-verify.gov) to confirm the employment eligibility of all newly hired employees for the duration of this agreement, as required by Section 448.095, F.S. ACTUARY is also responsible for obtaining proof of E -Verify registration and utilization for all subconsultants. ACTUARY shall act with due diligence in all matters in which it provides services under this contract. ACTUARY acts only as the independent actuary for the COUNTY and makes recommendations based upon COUNTY funding policies. ACTUARY does not provide legal or investment advice to the COUNTY. ACTUARY is not a fiduciary, within the meaning of any applicable state or federal law, or member of the board of trustees for the COUNTY, and therefore, ACTUARY does not vote on matters of governance and does not make decisions of any kind on behalf of the COUNTY. ACTUARY relies, as it must, on audited financial statements, demographic data, and member benefit information provided by the COUNTY and/or the employer, and is not engaged to audit this data. ACTUARY shall not be responsible under any circumstance for making employee or employer contributions to COUNTY. No provision of this contract shall be interpreted to require ACTUARY to provide income tax advice, investment advice, or legal advice to COUNTY. ACTUARY has no responsibility for the performance or non- performance of COUNTY's assets, the structure of COUNTY's portfolio, or the selection or termination of investment managers and consultants. ACTUARY is not a registered municipal advisor with the SEC. 3. TERM; DURATION OF AGREEMENT The term of the agreement shall commence on October 1, 2023. This Agreement shall remain in full force and effect for a period of six years, with one two-year extension available upon acceptance by both parties, unless otherwise terminated by mutual consent of the parties hereto, or terminated pursuant to Section 8 "Termination". 4. COMPENSATION The COUNTY shall pay to the ACTUARY a mutually agreed upon maximum amount not -to -exceed professional fee for each completed report, on a deliverable basis, all as set forth in Exhibit 2. Duly certified invoices shall be submitted to the Finance Director, in detail sufficient for proper prepayment and post payment audit. Upon submittal of a proper invoice the Finance Director will determine if the tasks or portions thereof have been satisfactorily