Professional Services Contract - PricewaterhouseCoopers LLP - Police and Fire Pension Plan for GASB 67 and 68

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CONTRACT FOR SERVICES This Contract For Services ("Contract") is made effective as of February 1 , 2017and between City of South Bend, Indiana ("Rmniover") and PricewaterhouseCoopers LLP WHEREAS, The Indiana Public Retirement System ("INPRS") administers the Pension Relief Fund for the benefit of employers participating in the 1925 Police Pension Fund, the 1937 Firefighters Pension Fund, and/or the 1953Police Pension Fund for Indianapolis (collectively referred to as the "Old Police and Fire Funds"); WHEREAS, Employer participates in one or more of the Old Police and Fire Funds for the benefit of certain of its current and former employees and is required to report its net pension liability, pension expenses, deferred inflows and outflows of resources, and other items associated with its participation in accordance with Governmental Accounting Standards Board Statement Numbers 67 and 68 ("GASB 67" and "GASB 68"); WHEREAS, the Old Police and Fire Funds are classified as single employer plans under GASB 67 and GASB 68 and Employer requires an actuarial valuation of its net pension liability, pension expenses, and deferred inflows and outflows of resources associated with its participation. WHEREAS, Contractor currently performs an annual actuarial valuation of the liabilities associated with each employer participating in the Old Police and Fire Funds as part of its Contract with INPRS; WHEREAS, Employer desires to leverage the Contractor's work for INPRS and engage the Contractor to provide an actuarial valuation report containing its net pension liability, pension expenses, deferred inflows and outflows of resources, and other items associated with its participation in the Old Police and Fire Funds in accordance with GASB 67 and GASB 68; WHERAS, Contractor desires to leverage the data provided by INPRS and utilized in the annual actuarial valuation of the liabilities associated with the Employer's participation in one or more of the Old Police and Fire Funds, and to leverage the existing relationship between INPRS and the Employer, for the purpose of preparing employer -level accounting information in accordance with GASB 67 and GASB 68 to the Employer; NOW, THEREFORE, the parties agree as follows: 1. Scope Contractor will prepare financial reporting information in accordance with GASB 67 and GASB 68 pertaining to the Employer's participation in the Old Police and Fire Funds, including calculation of the Employer's net pension liability, pension expense, and deferred inflows and outflows of resources for the annual period ending on the measurement date, based on information provided by INPRS. 2. Deliverables Contractor will deliver an actuarial report to the Employer for its participation in each of the Old Police and Fire Funds that includes the following: