GABRIEL, ROEDER, SMITH & COMPANY - ACTUARIAL SERVICESA CONTRACT AWARD SHEET INSTRCUTIONAL GUIDE TO ASSIST YOU WITH THE INFORMATION CONTACINED HEREIN IS AVAILABLE IN THE
PURCHASING SECTION OF OUR WEBPAGE AT:
www.hialeahfl.gov
CITY OF HIALEAH
CONTRACT AWARD
PURCHASING DEPARTMENT
CITY OF HIALEAH CONTRACT: ACTUARIAL SERVICES
DESCRIPTION: ACTUARIAL SERVICES FOR THE ELECTED OFFICERS RETIREMENT TRUST
CONTRACT PERIOD: 10/01/2022 – 09/30/2023
SECTION #1 – VENDOR AWARD
Name: GABRIEL, ROEDER, SMITH & COMPANY Name:
Contact: JENNIFER M. BORREGARD Contact:
Phone: 954-527-1616 Phone:
Fax: 954-525-0083 Fax:
E-mail: E-mail:
Name: Name:
Contact: Contact:
Phone: Phone:
Fax: Fax:
E-mail: E-mail:
SECTION #2 – AWARD/BACKGROUND INFORMATION/APPLICABLE ORDINANCES/NOTES
CITY COUNCIL APPROVED ON: 11/08/2022, ITEM F AMENDED AMOUNT:
RESOLUTION NO: INSURANCE REQUIREMENTS:
ANNUAL CONTRACT AMOUNT: $23,951.00 PERFORMANCE BOND:
APPLICABLE ORDINANCES:
Notes:
SECTION #3 – REQUESTING DEPARTMENT
CITY OF HIALEAH, DEPARTMENT OF RETIREMENT
Contract Administrator: ELSA JARAMILLLO-VELEZ, ESQ.
Phone: 305-883-8050
SECTION #4 – PROCURING AGENCY
CITY OF HIALEAH, DEPARTMENT OF RETIREMENT
Contract Administrator: ELSA JARAMILLLO-VELEZ, ESQ.
Phone: 305-883-8050
Prepared by: MARILIN GUTIERREZ
.F IT EM#___.::.--
NOV 0 8 2022
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COUNCIL AGENDA ITEM RE UEST FOR A1. -1 <o;; ~~~~~~~~~~~~~-"'--~~~~~--~YQA~
This form, letter from the department head addressed to the Mayor and City Council, a 0tf5tc~
r
supporting documents are due the Monday of the week prior to the City Council Meeting .
Date of Request : 10/12/2022
Requesting City Department: Retirement
Requested Council Meeting I Date: 11/8/2022
Action Requested from the isY Issue a purchase order
City Council:
D Increase a purchase order
D Award a bid
D Bid No.
D Reject a bid
D Bid No .
D Special Events Permit
D Street Closure
D Other :
Scope of se rvice(s) or
product(s): Actuarial Services
V endor: Gabriel, Ro eder, Smith & Company
Exp e nditure Amount :
$23,951 .00
r Funding Source (i.e., account
funding the expenditure):
Purchasing Process:
602.8500.513310 -Professional Services
D Competitive Bidding
/An excji"lion to competitive bidding applies:
~Professional services in the nature of
consultants, accountants and attorneys
D Sole source provider
D Emergency based on objective facts
D Credit facilities
D Competitive bidding is not required because the City
is utilizing a bid that has been awarded or under
contract by state, county or other governmental
agencies.
D Title of state, county or other governm e ntal
agencies contract:
D Piggy-back contract expiration
date:
~~~~~~~~~~~~~~~~
D Waive Competitive Bidding
D Reason(s) it is not advantageous to the City to
utilize competitive biddin g:
r
Signatures:
or of Finance Management
September 13, 2022
Ms. Grisell Aedo, BBA, MPS
Retirement Director
City of Hialeah
Retirement Division
501 Palm Avenue
Hialeah, Florida 33010-4719
P: 954.Si7.1616 I F: 954.525.0083 I www.grsconsutting.oom
Re: City of Hialeah Elected Officers Retirement System
Dear Grisell :
As in prior years, Gabriel, Roeder, Smith & Company (GRS) is pleased to have the opportunity to submit this
Engagement Letter for professional actuarial and consulting services to the City of Hialeah (City) for the City
of Hialeah Elected Officers Retirement System (System).
We are enthusia stic about continuing our relation ship with the City. We have a longstanding commitment
and experience with working with you and the City as w e ll as working on beh alf of publi c sector b e nefit
programs. Our philosophy of developing a partnership with our cl ients emphasizes the collaborative nature
of the GRS working relationship. We strive to earn your trust as your advisor. We will continue to work
together with you in the be st interest of the interested parties .
Description of Services
The professional services will be provided under the supervision of Jen Borregard , E.A., a Consultant and
Actuary with over 20 years of experience with employee benefit plan , Shelly Jones , A.S.A ., a Consultant and
Actuary with over 10 years of experience with employe e benefit plans and Nicolas Lahaye , F.S.A., a
Con sultant and Actuary with ove r 15 y ears of exp e ri e nc e with e mployee b e nefit plan s.
l:t Actuarial Valuation Report
Pr eparation of the Actuari al Valuation Re port is on e of th e main services r equ es t e d by th e City. Our goal
i s to h ave th e Actuarial Va lu ation Report fin aliz ed within 6 0 d ay s of r ece ivin g compl et e and acc u ra t e
financi al information and m e mbe r ce nsus dat a.
In addition to de live ry of t he Act uari al Valu ati o n Rep o rt, w e will e lect ro ni cally u plo ad t h e requ i r ed
di sc losu re informatio n to the St ate d ata bas e as ma nd at ed by the Sta t e.
GRS will atte nd a r equ est ed m ee ting w ith th e inte r ested parti es to prese nt ou r Actu ari a l V alu at io n
Re p o rt.
l:t Chapter 112.664 Compliance Report
In addition to our Actuarial Valuation Re port, we will provid e th e City with our Ch apter 112.664
Compli anc e Re port.
Ms . Grisel! Aedo , BBA, MPS
September 13, 2022
Page Two
In addition to delivery of the Compliance Report, we will electronically upload t he required i nfor mation
to the State databa se as mandated by the State .
l::t Government Accounting Standards Board (GASB) Statement Numbers 67 and 68 Reporting
GRS generally includes al l required actua ri al information for Statement Numbers 67 and 68 i n ou r annual
actuarial valuation r eport for the p e ns i on p lan . W e m ay p r epare a sepa rate St at ement Number 67 true -
up du e to timing con si derations.
l::t 415 Table
GRS will prepare a 415 tabl e to revi ew m aximum allowabl e benefits from the System .
Proposed Fees
Our proposed fee s for th e project are as follows and reflect recognition of our longst anding mutu al ly
reward i ng relation ship w it h the System.
l::t Actuarial Valuation Report -$10,0 20
l::t Actuarial Valuation Report State Upload -$468
l::t Chapter 112.664 Compliance Report -$3,115
l::t GASB Statement Number 67 true-up -$606
l::t GASB Statement Number 67 Reporting -$3,115
l::t GASB Statement Number 68 Reporting -$2,493
l::t 415 Table -$266
l::t Work performed in fiscal year ended 9/30/2022 not covered by prior year purchase order (GASB 67
true-up, Chapter 112.664 compliance report, valuation state upload) -$3 ,8 68
As in prior y ea rs, these fee am o unts will in cr ease only by inflat io n as m ea sure d by t he Con sum er Pri ce Ind ex
in sub se qu ent yea rs.
W e tru st the City will find th e terms o f our Engage m e nt Letter worthwhil e. If y o u should have any q ues tion
conce rning t he above, pl ease do not hesi t at e to co nta ct u s.
Sin ce r est rega rd s,
Ga brie l, Ro ed e r, Smit h & Co mp any
~ .&vu-oad
Jenni fe r M . Bo rrega rd , E.A.
Consul ta n t and Actuary
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10/12/22, 3:42 PM
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Detail by Entity Name
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DeRartment o f State I Division o f CorRorations I Search Records I Search by Entity Name I
Detail by Entity Name
Foreign Profit Corporation
GABRIEL, ROEDER, SMITH & COMPANY
Filing Information
Document Number
FEl/EIN Number
Date Filed
State
Status
Last Event
Event Date Filed
Event Effective Date
ONE TOWNE SQUARE
SUITE 800
SOUTHFIELD, Ml 48076
Changed : 02/09/2012
Mailing Address
ATTN: ACCOUNTING
P18229
38 -1691268
03/03/1988
Ml
ACTIVE
CORPORATE MERGER
09/14/1995
NONE
ONE TOWNE SQUARE SUITE 800
SOUTHFIELD, Ml 48076
Changed : 02/09/2012
Registered Agent Name & Address
BRACCIALARGHE, THEORA POH
O N E EAST BROWARD BLVD
STE 505
FORT LAUDERDALE, FL 3330 1
Name Chang ed : 01/0 3/2008
Address Cha ng ed : 04 /04 /20 11
Officer/Director Detail
Name & Address
T itl e TS
D I V I S I ON O F C O RPORATI ONS
http s ://s ear c h .sunbiz.o rg/l nq uiry/Corporati o nSearch/Sea rc hResultDeta il?in quirytype =E ntity N am e&directi o nType =l niti al&sea rc hN a m e Order=GABRIE L ... 1/3
10/12/22, 342 PM Detail by Entity Name
r
https ://sea rc h .sunbiz .org/l nq uiry/Corpo ra ti o nSearc h/SearchResul tD eta il?in q ui rytyp e =E ntityName &directi o nType =lnitial&searc hN a meO rd er=GABRIE L .. 3/3
Aedo, Grisell
( ·om:
Jent:
To:
Cc:
Subject:
-
Aedo, Grisel!
Thursday, September 23, 2021 11 :51 AM
Beecher, Ines F.
Chiocca, Christopher; Horta, Stacy
RE: City of Hialeah Elected Officers Retirement System -GRS Engagement Letter
Thank you. The letter will be updated with the new account.
Grisel!.
From: Beecher, Ines F.
Sent: Thursday, September 23, 202111:48 AM
To: Aedo, Grisel! <GAedo@hialeahfl .'gov>
Cc: Chiocca , Christopher <cchiocca@hialeahfl.gov>
Subject: FW: City of Hialeah Elected Officers Retirement System -GRS Engagement Letter
From: Chiocca, Christopher
Sent: Thursday, September 23, 202111:36 AM
To: Beecher, Ines F.<ibeecher@hialeahfl.gov>
r-Subject: RE: City of Hialeah Elected Officers Retirement System -GRS Engagement Letter
The account should be the one ending in 310.
From: Beecher, Ines F.<ibeecher@hialeahfl.gov>
Sent: Thursday, September 23 , 202111:33 AM
To: Chiocca, Christopher <cchiocca@hialeahfl.gov>
Subject: FW: City of Hialeah Elected Officers Retirement System -GRS Engagement Letter
This looks right?
From: Aedo, Grisell
Sent: Thursday, September 23, 202111:33 AM
To: Beecher, Ines F.<ibeecher@hialeahfl .gov>
Cc: Horta, Stacy <shorta@hialeahfl.gov>
Subject: FW : City of Hialeah El ected Office rs Retirement System -GRS Engagement Lette r
Good morning Ines,
Please confirm the account number on the letter is correct. This will probably be add it to the October meeting, since
thi s will not be on time for the Council meeting this coming Tue sday .
602 Elected Officials Retirement Fund
Account Percent
602.8500.513310 0 %
PROFESSIONAL SERVICES -ACTUARIAL
r Total for (2) Operating Exp e nses
Total expenses 8500 (Fund 602)
GG -Genera l Government
Total Expenses for Fund 602
A propriated
0.00
0 .00
Fiscal Year: 2023
Exriended
0 .00
Fund Totals
602
Ele cted Officials Retirement Fund $0.00 $0.00
Revenue/Expenses Balance: $0.00
60 2 E lec ted Offic ia ls Re t ir e me nt Fund
T ri al Balance -Expenses
Trial Balance -
Encumbered Balan_ce Last Date
0.0 0 0 .00
0.00 0.00
0.00 0.00
0.00 0.00 !Expenses
$0.00 $0.00
Pri n ted : I 0/3 1/2 022 Page: 2