Actuarial Services Agreement - Cavanaugh MacDonald Consulting LLC - GASB Valuation Report and Police Pension Fund

Home Browse Search

ACTUARIAL SERVICES AGREEMENT a. CMC agrees to make no assignment of any of its rights, duties or obligations under this Agreement without the specific approval of the SPONSOR. b. CMC agrees to indemnify and hold harmless the SPONSOR and its officers, employees or agents, including but not limited to the Plan Administrator for any claims or causes of action which may arise against the SPONSOR as a result of any negligence or malfeasance on the part of CMC in the performance of its duties under this Agreement. C. This Agreement shall be construed in accordance with the laws of the State of Georgia and any remedies of the parties pertaining thereto shall likewise be governed by the laws of the State of Georgia. d. CMC agrees to abide with all applicable federal, state and local laws and rules and agrees to act in accordance with the standards of the actuarial profession. C. CMC agrees to carry a limit of liability of at least one million dollars in Errors & Omissions Insurance coverage, exclusive of defense costs. f. This Agreement, constituting the entire Agreement and understanding between the SPONSOR and CMC shall be construed to be in accordance with the laws of the State of Georgia and any remedies of the parties pertaining thereto shall likewise be governed by the laws of the State of Georgia. 4. Nondiscrimination Clause — In performing work hereunder, CMC shall comply with all applicable equal employment opportunity laws and regulations. 5. Ownership of Data and Work Product — The SPONSOR will permit the Indiana Public Employees Retirement System to provide CMC such data related to the SPONSOR and the participants, beneficiaries and other individuals interested therein (collectively, the "Data") as is necessary to permit the services to be provided by CMC under this Agreement. In addition, all materials prepared by CMC specifically and exclusively for the SPONSOR pursuant to this Agreement ("work product") shall be exclusively owned by the SPONSOR and shall be deemed works made for hire. In the event any work product may not, by operation of law, be works for hire, CMC hereby assigns to the SPONSOR all of its rights in such work product and copyrights therein. b. Fees and Char es Annual GASB 68 Actuarial Valuation $ 3,200 These rates shall remain fixed for the 2018 and 2019 valuations.