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HomeMy WebLinkAboutRFP - 9197 ACTUARIAL VALUATION STUDY ANNUALRFP 8173 Actuarial Valuation Study Annual Page 1 of 21 REQUEST FOR PROPOSAL 9197 ACTUARIAL VALUATION STUDY ANNUAL RFP DUE: 3:00 PM MST (our clock), October 14, 2020 The City of Fort Collins is requesting proposals from qualified firms to perform an annual Actuarial Valuation Study of its General Employees’ Retirement Plan (GERP) including a summary of the valuation results and information about all significant assumptions and findings. The actuarial valuation as of January 1st for each year shall be completed no later than April 15th of the preceding year. In addition, the awarded firm will perform an annual Actuarial Study of the City’s Self-Insured Liability for each policy year starting with October 1, 1987 through the current year for liability claims and January 1, 1989 through the current year for workers compensation claims. The actuarial valuation as of December 31st for each year shall be completed no later than January 31st of the preceding year. As part of the City’s commitment to Sustainable Purchasing, proposals should be submitted online through the Rocky Mountain E-Purchasing System (RMEPS) at http://www.bidnetdirect.com/colorado/city-of-fort-collins. Note: please ensure adequate time to submit proposals through RMEPS. Proposals not submitted by the designated Opening Date and Time will not be accepted by the system. All questions should be submitted in writing via email, to Gerry Paul, Purchasing Director, at gspaul@fcgov.com with a copy to Blaine Dunn, Interim Accounting Director at bdunn@fcgov.com no later than 5:00 PM MST (our clock) on October 2, 2020. Please format your email to include: 9197 Actuarial Valuation Study Annual in the subject line. Respondent communication regarding the proposal with other City personnel is prohibited and shall be grounds for disqualification. Responses to all questions submitted before the deadline will be addressed in an addendum and posted on the Rocky Mountain E-Purchasing System webpage. Rocky Mountain E-Purchasing System hosted by BidNet A copy of the RFP may be obtained at http://www.bidnetdirect.com/colorado/city-of-fort-collins. This RFP has been posted utilizing the following Commodity Code(s): 94612 Actuarial Services Prohibition of Unlawful Discrimination: The City of Fort Collins, in accordance with the provisions of Title VI of the Civil Rights Act of 1964 (78 Stat. 252, 42 US.C. §§ 2000d to 2000d- 4) and the Regulations, hereby notifies all bidders that it will affirmatively ensure that any contract entered into pursuant to this advertisement, disadvantaged business enterprises will be afforded full and fair opportunity to submit bids in response to this invitation and will not be discriminated against on the grounds of race, color, or national origin in consideration for an award. Financial Services Purchasing Division 215 N. Mason St. 2nd Floor PO Box 580 Fort Collins, CO 80522 970.221.6775 970.221.6707 fcgov.com/purchasing RFP 8173 Actuarial Valuation Study Annual Page 2 of 21 The City strictly prohibits unlawful discrimination based on an individual’s gender (regardless of gender identity or gender expression), race, color, religion, creed, national origin, ancestry, age 40 years or older, marital status, disability, sexual orientation, genetic information, or other characteristics protected by law. For the purpose of this policy “sexual orientation” means a person’s actual or perceived orientation toward heterosexuality, homosexuality, and bisexuality. The City also strictly prohibits unlawful harassment in the workplace, including sexual harassment. Further, the City strictly prohibits unlawful retaliation against a person who engages in protected activity. Protected activity includes an employee complaining that he or she has been discriminated against in violation of the above policy or participating in an employment discrimination proceeding. The City requires its vendors to comply with the City’s policy for equal employment opportunity and to prohibit unlawful discrimination, harassment and retaliation. This requirement applies to all third-party vendors and their subcontractors at every tier. Public Viewing Copy: The City is a governmental entity subject to the Colorado Open Records Act, C.R.S. §§ 24-72-200.1 et seq. (“CORA”). Any proposals submitted hereunder are subject to public disclosure by the City pursuant to CORA and City ordinances. Vendors may submit one (1) additional complete proposal clearly marked “FOR PUBLIC VIEWING.” In this version of the proposal, the Vendor may redact text and/or data that it deems confidential or proprietary pursuant to CORA. Such statement does not necessarily exempt such documentation from public disclosure if required by CORA, by order of a court of appropriate jurisdiction, or other applicable law. Generally, under CORA trade secrets, confidential commercial and financial data information is not required to be disclosed by the City. Proposals may not be marked “Confidential” or ‘Proprietary’ in their entirety. All provisions of any contract resulting from this request for proposal will be public information. New Vendors: The City requires new Vendors receiving awards from the City to fill out and submit an IRS form W-9 and to register for Direct Deposit (Electronic) payment. If needed, the W-9 form and the Vendor Direct Deposit Authorization Form can be found on the City’s Purchasing website at www.fcgov.com/purchasing under Vendor Reference Documents. Please do not submit with your proposal. Sales Prohibited/Conflict of Interest: No officer, employee, or member of City Council, shall have a financial interest in the sale to the City of any real or personal property, equipment, material, supplies or services where such officer or employee exercises directly or indirectly any decision-making authority concerning such sale or any supervisory authority over the services to be rendered. This rule also applies to subcontracts with the City. Soliciting or accepting any gift, gratuity favor, entertainment, kickback or any items of monetary value from any person who has or is seeking to do business with the City of Fort Collins is prohibited. Collusive or Sham Proposals: Any proposal deemed to be collusive or a sham proposal will be rejected and reported to authorities as such. Your authorized signature of this proposal assures that such proposal is genuine and is not a collusive or sham proposal. The City of Fort Collins reserves the right to reject any and all proposals and to waive any irregularities or informalities. RFP 8173 Actuarial Valuation Study Annual Page 3 of 21 Utilization of Award by Other Agencies: The City of Fort Collins reserves the right to allow other state and local governmental agencies, political subdivisions, and/or school districts to utilize the resulting award under all terms and conditions specified and upon agreement by all parties. Usage by any other entity shall not have a negative impact on the City of Fort Collins in the current term or in any future terms. The selected Vendor shall be expected to sign the City’s standard Agreement prior to commencing Services (see sample attached to this Proposal). Sincerely, Gerry Paul Purchasing Director RFP 8173 Actuarial Valuation Study Annual Page 4 of 21 I. SCOPE OF SERVICES 1. Actuarial Valuation Study Perform an annual Actuarial Valuation Study of its General Employees’ Retirement Plan (GERP) including a summary of the valuation results and information about all significant assumptions and findings. The actuarial valuation as of January 1st for each year shall be completed no later than March 25th. Services included in the actuarial valuation study include: a. Provide all information requested by the GERP Committee and City to meet the financial reporting guidelines of the Governmental Accounting Standards Board (GASP), including any assistance needed in drafting financial statements, notes, and disclosures. b. Meet with the GERP Committee in February of each year prior to the commencement of the annual actuarial valuation study to discuss the process, report format, scope, and significant assumptions to be used during the course of the engagement. Significant assumptions should include, but are not limited to the following: • Evaluation of the GERP's actuarial cost method • Valuation procedures • Economic assumptions • Demographic assumptions • Actuarial value of assets c. Meet with the GERP Committee in March of each year to deliver and review the draft Actuarial Valuation Study. d. On an annual basis meet with the Council Finance Committee and GERP Committee to present the past year’s GERP performance and impact to the plan going forward into the future. 2. Personal Retirement Planning Statements The Professional shall on an annual basis provide Personal Retirement Planning Statements to the City by April 30th of each year. The City will distribute the Statements to members of the Plan. See Attachment 1 for sample format. 3. Projected Contributions, Benefit Payments, and Market Value of Assets On an annual basis the Professional shall prepare a report including the Projected Contributions, Benefit Payments and Market Value of assets by March 25th of each year. See Attachment 2 for sample format. RFP 8173 Actuarial Valuation Study Annual Page 5 of 21 4. GASB 67/68 Disclosures Prepare for the City Pension disclosures as required in GASB 67/68 by March 25th of each year. Preparation of this disclosure will be used in the City’s Comprehensive Annual Financial Report (CAFR) and therefore must meet all requirements set out by GASB. Items included in the disclosure shall include, but are not limited to, the following: • Summary of Key Dates and Significant Changes • Statement of Fiduciary Net Position • Statement of Changes in Fiduciary Net Position • Money-Weighted Rate of Return • Long Term Expected Rate of Return • Depletion Date Projection • Projection of Contributions • Projection of Fiduciary Net Position • Actuarial Present Value of Projected Benefit Payments • Net Pension Liability • Changes in Net Pension Liability • Schedule of Changes in Net Pension Liability and Related Ratios • Pension Expense • Schedule of Deferred Inflows and Outflows of Resources 5. GASB 74/75 OPEB Disclosures Prepare for the City, Retiree Insurance Plan disclosures as required in GASB 74/75 by March 25th of each year. Preparation of this disclosure will be used in the City’s Comprehensive Annual Financial Report (CAFR) and therefore must meet all requirements set out by GASB. Items included in the disclosure shall include, but are not limited to, the following: • Certification • Total OPEB Liability • Changes in Total OPEB Liability • Schedule of Changes in OPEB Liability and Related Ratios • OPEB Expense • Schedule of Deferred Inflows and Outflows of Resources 6. Actuarial Review of Unpaid Claim Liabilities Perform an annual Actuarial Study of the City of Fort Collins’ Self-Insured Liabilities for each policy year starting with 10/1/1987 through the current year for liability claims and 1/1/189 through the current year for workers compensation claims. Liability coverages to be analyzed include automobile, general, police, and public officials. The actuarial valuation as of December 31st for each year shall be completed no later than January 31st. RFP 8173 Actuarial Valuation Study Annual Page 6 of 21 Services included in the actuarial valuation study include: a. Reserves, including incurred but not reported (IBNR), calculated as: • Expected value • 75%, 80% and 95% Confidence Levels • Reserves to be calculated undiscounted and discounted at 2%, 3% and 4% to present value b. Cash flow (payment) schedules c. Recommended funding levels d. Projected losses for five future accident years e. Worksheet calculations of 1-4 7. Ad Hoc Consulting Provide on-going consulting services on-call as required by the City. Consulting will be reimbursable based on an established hourly rate(s). The City will initiate a Work Order (see Exhibit A of Sample Agreement) to authorize consulting services. Examples include but are not limited to: a. Assist the Committee in drafting changes to the GERP documents b. Special reports, research, and analysis of certain topics c. Attending Committee and/or Council Finance Committee meetings as required above and beyond the meetings identified under the Actuarial Valuation Study to provide guidance. d. Perform calculations and analysis of benefits for unique and unusual situations for GERP e. Consultation and questions as required under the IBNR 8. Additional Requirements a. The Professional will be required to be completely familiar with the GERP documents. b. The Professional shall furnish all required reports to the GERC Committee no later than two days prior to the meeting for which the report is scheduled. c. The Professional shall respond to GERP Committee and City inquiries on a timely basis (within 48 hours). d. The Professional will be familiar with required GASB disclosures and stay up to date on any changes occurring RFP 8173 Actuarial Valuation Study Annual Page 7 of 21 e. The Professional will be familiar with the City’s self-insurance program 9. Pricing Please complete and submit as part of the RFP Attachment 3 with proposed pricing. 10. Additional Resources a. The City’s pension plan general website is available here: http://www.fcgov.com/cityclerk/retirement.php b. The General Employees Retirement Plan is available here: http://www.fcgov.com/cityclerk/pdf/general-employees-retirement-plan-document.pdf c. City of Fort Collins General Employees’ Retirement Plan, January 1, 2020 Actuarial Valuation is available upon written request. For a copy please contact Gerry Paul at gspaul@fcgov.com. II. REVIEW & ASSESSMENT Professional firms will be evaluated on the following criteria. These criteria will be the basis for review and assessment of the written proposals and optional interview session. At the discretion of the City, interviews of the top rated firms may be conducted. The rating scale shall be from 1 to 5, with 1 being a poor rating, 3 being an average rating, and 5 being an outstanding rating. WEIGHTING FACTOR QUALIFICATION STANDARD 2.0 Scope of Proposal Does the proposal address all elements of the RFP? Does the proposal show an understanding of the project objectives, methodology to be used and results/outcomes required by the project? Are there any exceptions to the requirements of the RFP, Scope of Services, or agreement? 2.0 Assigned Personnel Do the persons who will be working on the project have the necessary skills and qualifications? Are sufficient people of the requisite skills and qualifications assigned to the project? 1.0 Availability Can the work be completed in the necessary time? Can the annual due dates be consistently achieved? Are other qualified personnel available to assist in meeting the project schedule if required? 1.0 Sustainability/TBL Methodology Does the firm demonstrate a commitment to Sustainability and incorporate Triple Bottom Line methodology in both their Scope of Services for the project, and their day-to-day business operating processes and procedures? RFP 8173 Actuarial Valuation Study Annual Page 8 of 21 2.0 Cost and Work Hours Does the proposal include detailed cost break-down for each cost element as applicable and are the line- item costs competitive? Do the proposed cost in Attachment 3 compare favorably with the Project Manager's estimate and competitive pricing? 2.0 Firm Capability Does the firm have the resources, financial strength, capacity and support capabilities required to successfully complete the project on-time and in- budget? Has the firm successfully completed previous projects of this type and scope? Definitions Sustainable Purchasing is a process for selecting products or services that have a lesser or reduced negative effect on human health and the environment when compared with competing products or services that serve the same purpose. This process is also known as “Environmentally Preferable Purchasing” (EPP), or “Green Purchasing”. The Triple Bottom Line (TBL) is an accounting framework that incorporates three dimensions of performance: economic, or financial; environmental, and social. The generally accepted definition of Andrew Savitz for TBL is that it “captures the essence of sustainability by measuring the impact of an organization’s activities on the world…including both its profitability and shareholders values and its social, human, and environmental capital.” RFP 8173 Actuarial Valuation Study Annual Page 9 of 21 REFERENCE EVALUATION (TOP RATED FIRM) The Project Manager will check references using the following criteria. The evaluation rankings will be labeled Satisfactory/Unsatisfactory. QUALIFICATION STANDARD Overall Performance Would you hire this Professional again? Did they show the skills required by this project? Timetable Was the original Scope of Work completed within the specified time? Were interim deadlines met in a timely manner? Completeness Was the Professional responsive to client needs; did the Professional anticipate problems? Were problems solved quickly and effectively? Budget Was the original Scope of Work completed within the project budget? Job Knowledge a) If a study, did it meet the Scope of Work? b) If Professional administered a construction contract, was the project functional upon completion and did it operate properly? Were problems corrected quickly and effectively? RFP 8173 Actuarial Valuation Study Annual Page 10 of 21 III. ATTACHMENTS ATTACHMENT 1 RFP 8173 Actuarial Valuation Study Annual Page 11 of 21 ATTACHMENT 2 RFP 8173 Actuarial Valuation Study Annual Page 12 of 21 ATTACHMENT 3 The Professional shall be compensated in accordance with the following fee schedule: Hourly Rates for Ad Hoc Consulting Deliverable Annual Due Date 2020 2021 2022 2023 2024 Actuarial Report - General Employees' Retirement Plan* March 25th $ $ $ $ $ Projection Contributions, Benefit Payments, Market Value March 25th $ $ $ $ $ Personal Retirement Planning Statement April 30th $ $ $ $ $ Actuarial Report - Self-Insured Liabilities January 31st $ $ $ $ $ GASB 67/68 Disclosure March 25th $ $ $ $ $ GASB 74/75 Disclosure March 25th $ $ $ $ $ Total Annual $ $ $ $ $ * Includes annual meeting with GERP Committee Optional Contract Terms Consulting (As Required) 2020 2021 2022 2023 2024 Comments Consultant Name/Title $ $ $ $ $ Hourly Rate Consultant Name/Title $ $ $ $ $ Consultant Name/Title $ $ $ $ $ Consultant Name/Title $ $ $ $ $ Optional Contract Terms RFP 9197 Actuarial Valuation Study Annual Page 13 of 21 IV. SAMPLE AGREEMENT PROFESSIONAL SERVICES AGREEMENT WORK ORDER TYPE THIS AGREEMENT made and entered into the day and year set forth below by and between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City" and , hereinafter referred to as "Professional". WITNESSETH: In consideration of the mutual covenants and obligations herein expressed, it is agreed by and between the parties hereto as follows: 1. Scope of Services. The Professional agrees to provide services in accordance with any project Work Orders for , issued by the City. A blank sample of a work order is attached hereto as Exhibit "A", consisting of ( ) pages and is incorporated herein by this reference. A general scope of services is attached hereto as Exhibit “B", consisting of ( ) pages and is incorporated herein by this reference. The City reserves the right to independently bid any project rather than issuing a Work Order to the Professional for the same pursuant to this Agreement. Irrespective of references in Exhibit A to certain named third parties, Professional shall be solely responsible for performance of all duties hereunder. 2. The Work Schedule. The services to be performed pursuant to this Agreement shall be performed in accordance with the Work Schedule stated on each Work Order. 3. Time of Commencement and Completion of Services. The services to be performed pursuant to this Agreement shall be initiated as specified on each Work Order. Time is of the essence. Any extensions of any time limit must be agreed upon in writing by the parties hereto. 4. Contract Period. This Agreement shall commence , 20 , and shall continue in full force and effect until , 20 , unless sooner terminated as herein provided. In addition, at the option of the City, the Agreement may be extended for additional one year periods not to exceed ( ) additional one year periods. Renewals and pricing changes shall be negotiated by and agreed to by both parties. Written notice of renewal shall be provided to the Professional and mailed no later than thirty (30) days prior to contract end. 5. Early Termination by City/Notice. Notwithstanding the time periods contained herein, the City may terminate this Agreement at any time without cause by providing written notice of termination to the Professional. Such notice shall be delivered at least fifteen (15) days prior to the termination date contained in said notice unless otherwise agreed in writing by the parties. All notices provided under this agreement shall be effective when mailed, postage prepaid and sent to the following address: RFP 9197 Actuarial Valuation Study Annual Page 14 of 21 Professional: City: Copy to: Attn: City of Fort Collins Attn: Blaine Dunn PO Box 580 Fort Collins, CO 80522 City of Fort Collins Attn: Purchasing Dept. PO Box 580 Fort Collins, CO 80522 In the event of any such early termination by the City, the Professional shall be paid for services rendered prior to the date of termination subject only to the satisfactory performance of the Professional's obligations under this Agreement. Such payment shall be the Professional's sole right and remedy for such termination. 6. Design, Project Insurance and Insurance Responsibility. The Professional shall be responsible for the professional quality, technical accuracy, timely completion and the coordination of all services rendered by the Professional, including but not limited to designs, plans, reports, specifications, and drawings and shall, without additional compensation, promptly remedy and correct any errors, omissions, or other deficiencies. The Professional shall indemnify, save and hold harmless the City its officers and employees, in accordance with Colorado law, from all damages whatsoever claimed by third parties against the City and for the City's costs and reasonable attorney’s fees arising directly or indirectly out of the Professional's negligent performance of any of the services furnished under this Agreement. The Professional shall maintain insurance in accordance with Exhibit , consisting of one (1) page, attached hereto and incorporated herein. 7. Compensation. In consideration of services to be performed pursuant to this Agreement, the City agrees to pay Professional on a time and reimbursable direct cost basis designated in Exhibit "B", consisting of ( ) page(s), attached hereto and incorporated herein by this reference. At the election of the City, each Work Order may contain a maximum fee, which shall be negotiated by the parties hereto for each such Work Order. Monthly partial payments based upon the Professional's billings and itemized statements are permissible. The amounts of all such partial payments shall be based upon the Professional's City-verified progress in completing the services to be performed pursuant to the Work Order and upon approval of the Professional's direct reimbursable expenses. Final payment shall be made following acceptance of the work by the City. Upon final payment, all designs, plans, reports, specifications, drawings, and other services rendered by the Professional shall become the sole property of the City. 8. City Representative. The City will designate, prior to commencement of work, its project representative who shall make, within the scope of his or her authority, all necessary and proper decisions with reference to the project. All requests for contract interpretations, change orders, and other clarification or instruction shall be directed to the City Representative. 9. Project Drawings. Upon conclusion of the project and before final payment, the Professional shall provide the City with reproducible drawings of the project containing accurate information on the project as constructed. Drawings shall be of archival, prepared on stable RFP 9197 Actuarial Valuation Study Annual Page 15 of 21 mylar base material using a non-fading process to provide for long storage and high quality reproduction. "CD" disc of the as-built drawings shall also be submitted to the owner in and AutoCAD version no older then the established city standard. 10. Monthly Report. Commencing thirty (30) days after Notice to Proceed is given on any Work Order and every thirty days thereafter, Professional is required to provide the City Representative with a written report of the status of the work with respect to the Work Order, Work Schedule and other material information. Failure to provide any required monthly report may, at the option of the City, suspend the processing of any partial payment request. 11. Independent Contractor. The services to be performed by Professional are those of an independent contractor and not of an employee of the City of Fort Collins. The City shall not be responsible for withholding any portion of Professional's compensation hereunder for the payment of FICA, Workers' Compensation, other taxes or benefits or for any other purpose. 12. Subcontractors. Professional may not subcontract any of the Work set forth in the Exhibit A, Statement of Work without the prior written consent of the city, which shall not be unreasonably withheld. If any of the Work is subcontracted hereunder (with the consent of the City), then the following provisions shall apply: (a) the subcontractor must be a reputable, qualified firm with an established record of successful performance in its respective trade performing identical or substantially similar work, (b) the subcontractor will be required to comply with all applicable terms of this Agreement, (c) the subcontract will not create any contractual relationship between any such subcontractor and the City, nor will it obligate the City to pay or see to the payment of any subcontractor, and (d) the work of the subcontractor will be subject to inspection by the City to the same extent as the work of the Professional. 13. Personal Services. It is understood that the City enters into this Agreement based on the special abilities of the Professional and that this Agreement shall be considered as an agreement for personal services. Accordingly, the Professional shall neither assign any responsibilities nor delegate any duties arising under this Agreement without the prior written consent of the City. 14. Acceptance Not Waiver. The City's approval of drawings, designs, plans, specifications, reports, and incidental work or materials furnished hereunder shall not in any way relieve the Professional of responsibility for the quality or technical accuracy of the work. The City's approval or acceptance of, or payment for, any of the services shall not be construed to operate as a waiver of any rights or benefits provided to the City under this Agreement. 15. Default. Each and every term and condition hereof shall be deemed to be a material element of this Agreement. In the event either party should fail or refuse to perform according to the terms of this agreement, such party may be declared in default. 16. Remedies. In the event a party has been declared in default, such defaulting party shall be allowed a period of ten (10) days within which to cure said default. In the event the default RFP 9197 Actuarial Valuation Study Annual Page 16 of 21 remains uncorrected, the party declaring default may elect to (a) terminate the Agreement and seek damages; (b) treat the Agreement as continuing and require specific performance; or (c) avail himself of any other remedy at law or equity. If the non-defaulting party commences legal or equitable actions against the defaulting party, the defaulting party shall be liable to the non-defaulting party for the non-defaulting party's reasonable attorney fees and costs incurred because of the default. 17. Binding Effect. This writing, together with the exhibits hereto, constitutes the entire agreement between the parties and shall be binding upon said parties, their officers, employees, agents and assigns and shall inure to the benefit of the respective survivors, heirs, personal representatives, successors and assigns of said parties. 18. Law/Severability. The laws of the State of Colorado shall govern the construction, interpretation, execution and enforcement of this Agreement. In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision of this Agreement. 19. Prohibition Against Employing Illegal Aliens. Pursuant to Section 8-17.5-101, C.R.S., et. seq., Professional represents and agrees that: a. As of the date of this Agreement: 1. Professional does not knowingly employ or contract with an illegal alien who will perform work under this Agreement; and 2. Professional will participate in either the e-Verify program created in Public Law 208, 104th Congress, as amended, and expanded in Public Law 156, 108th Congress, as amended, administered by the United States Department of Homeland Security (the “e-Verify Program”) or the Department Program (the “Department Program”), an employment verification program established pursuant to Section 8-17.5-102(5)(c) C.R.S. in order to confirm the employment eligibility of all newly hired employees to perform work under this Agreement. b. Professional shall not knowingly employ or contract with an illegal alien to perform work under this Agreement or knowingly enter into a contract with a subcontractor that knowingly employs or contracts with an illegal alien to perform work under this Agreement. c. Professional is prohibited from using the e-Verify Program or Department Program procedures to undertake pre-employment screening of job applicants while this Agreement is being performed. d. If Professional obtains actual knowledge that a subcontractor performing work under this Agreement knowingly employs or contracts with an illegal alien, Professional shall: 1. Notify such subcontractor and the City within three days that Professional has actual knowledge that the subcontractor is employing or contracting with an illegal alien; and RFP 9197 Actuarial Valuation Study Annual Page 17 of 21 2. Terminate the subcontract with the subcontractor if within three days of receiving the notice required pursuant to this section the subcontractor does not cease employing or contracting with the illegal alien; except that Professional shall not terminate the contract with the subcontractor if during such three days the subcontractor provides information to establish that the subcontractor has not knowingly employed or contracted with an illegal alien. e. Professional shall comply with any reasonable request by the Colorado Department of Labor and Employment (the “Department”) made in the course of an investigation that the Department undertakes or is undertaking pursuant to the authority established in Subsection 8-17.5-102 (5), C.R.S. f. If Professional violates any provision of this Agreement pertaining to the duties imposed by Subsection 8-17.5-102, C.R.S. the City may terminate this Agreement. If this Agreement is so terminated, Professional shall be liable for actual and consequential damages to the City arising out of Professional’s violation of Subsection 8-17.5-102, C.R.S. g. The City will notify the Office of the Secretary of State if Professional violates this provision of this Agreement and the City terminates the Agreement for such breach. 20. Special Provisions. Special provisions or conditions relating to the services to be performed pursuant to this Agreement are set forth in Exhibit " " - Confidentiality, consisting of one (1) pages, attached hereto and incorporated herein by this reference. RFP 9197 Actuarial Valuation Study Annual Page 18 of 21 THE CITY OF FORT COLLINS, COLORADO By: Gerry Paul Purchasing Director DATE: ATTEST: City Clerk APPROVED AS TO FORM: Assistant City Attorney PROFESSIONAL'S NAME By: Printed: Title: CORPORATE PRESIDENT OR VICE PRESIDENT Date: RFP 9197 Actuarial Valuation Study Annual Page 19 of 21 EXHIBIT A WORK ORDER FORM PURSUANT TO AN AGREEMENT BETWEEN THE CITY OF FORT COLLINS AND DATED: Work Order Number: Purchase Order Number: Project Title: Commencement Date: Completion Date: Maximum Fee: (time and reimbursable direct costs): Project Description: Scope of Services: Professional agrees to perform the services identified above and on the attached forms in accordance with the terms and conditions contained herein and in the Professional Services Agreement between the parties. In the event of a conflict between or ambiguity in the terms of the Professional Services Agreement and this work order (including the attached forms) the Professional Services Agreement shall control. The attached forms consisting of ___ (_) pages are hereby accepted and incorporated herein, by this reference, and Notice to Proceed is hereby given. PROFESSIONAL By:_______________________________ Date:_____________________________ CITY OF FORT COLLINS By:_________________________________ Project Manager Date: ______________________________ By: _______________________________ Gerry Paul Purchasing Director (over $60,000.00) Date: ____________________________ RFP 9197 Actuarial Valuation Study Annual Page 20 of 21 EXHIBIT INSURANCE REQUIREMENTS 1. The Professional will provide, from insurance companies acceptable to the City, the insurance coverage designated hereinafter and pay all costs. Before commencing work under this bid, the Professional shall furnish the City with certificates of insurance showing the type, amount, class of operations covered, effective dates and date of expiration of policies, and containing substantially the following statement: “The insurance evidenced by this Certificate will not reduce coverage or limits and will not be cancelled, except after thirty (30) days written notice has been received by the City of Fort Collins.” In case of the breach of any provision of the Insurance Requirements, the City, at its option, may take out and maintain, at the expense of the Professional, such insurance as the City may deem proper and may deduct the cost of such insurance from any monies which may be due or become due the Professional under this Agreement. The City, its officers, agents and employees shall be named as additional insureds on the Professional 's general liability and automobile liability insurance policies for any claims arising out of work performed under this Agreement. 2. Insurance coverages shall be as follows: A. Workers' Compensation & Employer's Liability. The Professional shall maintain during the life of this Agreement for all of the Professional's employees engaged in work performed under this agreement: 1. Workers' Compensation insurance with statutory limits as required by Colorado law. 2. Employer's Liability insurance with limits of $100,000 per accident, $500,000 disease aggregate, and $100,000 disease each employee. B. Commercial General & Vehicle Liability. The Professional shall maintain during the life of this Agreement such commercial general liability and automobile liability insurance as will provide coverage for damage claims of personal injury, including accidental death, as well as for claims for property damage, which may arise directly or indirectly from the performance of work under this Agreement. Coverage for property damage shall be on a "broad form" basis. The amount of insurance for each coverage, Commercial General and Vehicle, shall not be less than $1,000,000 combined single limits for bodily injury and property damage. In the event any work is performed by a subcontractor, the Professional shall be responsible for any liability directly or indirectly arising out of the work performed under this Agreement by a subcontractor, which liability is not covered by the subcontractor's insurance. RFP 9197 Actuarial Valuation Study Annual Page 21 of 21 EXHIBIT CONFIDENTIALITY IN CONNECTION WITH SERVICES provided to the City of Fort Collins (the “City”) pursuant to this Agreement (the “Agreement”), the Professional hereby acknowledges that it has been informed that the City has established policies and procedures with regard to the handling of confidential information and other sensitive materials. In consideration of access to certain information, data and material (hereinafter individually and collectively, regardless of nature, referred to as “information”) that are the property of and/or relate to the City or its employees, customers or suppliers, which access is related to the performance of services that the Professional has agreed to perform, the Professional hereby acknowledges and agrees as follows: That information that has or will come into its possession or knowledge in connection with the performance of services for the City may be confidential and/or proprietary. The Professional agrees to treat as confidential (a) all information that is owned by the City, or that relates to the business of the City, or that is used by the City in carrying on business, and (b) all information that is proprietary to a third party (including but not limited to customers and suppliers of the City). The Professional shall not disclose any such information to any person not having a legitimate need-to-know for purposes authorized by the City. Further, the Professional shall not use such information to obtain any economic or other benefit for itself, or any third party, except as specifically authorized by the City. The foregoing to the contrary notwithstanding, the Professional understands that it shall have no obligation under this Agreement with respect to information and material that (a) becomes generally known to the public by publication or some means other than a breach of duty of this Agreement, or (b) is required by law, regulation or court order to be disclosed, provided that the request for such disclosure is proper and the disclosure does not exceed that which is required. In the event of any disclosure under (b) above, the Professional shall furnish a copy of this Agreement to anyone to whom it is required to make such disclosure and shall promptly advise the City in writing of each such disclosure. In the event that the Professional ceases to perform services for the City, or the City so requests for any reason, the Professional shall promptly return to the City any and all information described hereinabove, including all copies, notes and/or summaries (handwritten or mechanically produced) thereof, in its possession or control or as to which it otherwise has access. The Professional understands and agrees that the City’s remedies at law for a breach of the Professional’s obligations under this Confidentiality Agreement may be inadequate and that the City shall, in the event of any such breach, be entitled to seek equitable relief (including without limitation preliminary and permanent injunctive relief and specific performance) in addition to all other remedies provided hereunder or available at law.