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Jennifer Flockenhull <br />From: Cullen, James <JCulien@inprs,in.gov> <br />Sent: Monday, December 04, 2017 6:36 PM <br />To: Jennifer Hockenhull; jmurphiy@southbend'in.gov <br />Cc- brentb@cavmacconsulting.com; Biough, Robert A (Andy); Haggard, Jeremy <br />Subject: City of South Bend Pension Relief Actuarial Valuations for 12/31/17 <br />Attachments: CMC background.docx; Professional Service Agreement - Indiana Local Fire or Police.pdf <br />Follow Up Flag: Follow up <br />Due By: Friday, December 15, 2017 1:00 PM <br />Flag Status: Flagged <br />INPRS has recently contracted with a new actuary, Cavanaugh Macdonald (CavMac) to replace PwC. CavMac has agreed <br />to provide actuarial valuations for each of your pension relief pension plans (police and/or fire) as of 12/31/17. CavMac <br />has included a brief document about their background for your review. The contact at Cavanaugh Macdonald is Brent <br />Banister and his information is: <br />Brent A. Banister, Ph.D., FSA, EA, MAAA, A. <br />Chief Actuary <br />Cavanaugh Macclonald Consulting, LLC <br />3906 Raynor Parkway, Suite 1,06 <br />Bellevue, NE 68123 <br />Phone 402 905 4462 <br />Cell 402 709i 2927 <br />F'ax 402 905 4464 <br />1 a V 111111R I I A WRJOSS� <br />Like PwC last year, CavMac will use the prior year (1/1/17) census data that has been provided and actuarially roll <br />forward the information to 12/31/17. However, to ensure there hasn't been any significant changes, Ca,vMac would <br />greatly appreciate for each organization to report their information early to the INPRS EPPA organization. We would like <br />you to submit your data to INPRS no later than January 15, 2018. INPRS will process your information before all of the <br />non-GAAP basis employers and forward it sooner to CavMac, in order for each of you to receive the valuations in time <br />for your CAFR's. <br />The cost per plan is $3,200 per plan (total of $6,400 for both police and fire), and these fees are reimbursable by the <br />pension relief fund (as long as CavMac: confirms payment from your organization). CavMac plans to have the actuariail <br />valuations completed in, March. <br />Attached is a contract from CavMac for your organization to sign and return to Brent Banister (please copy Andy Blough <br />and I). <br />After receiving the actuarial valuations, it is your responsibility to pay CavMac. Once CavMac confirms receipt of <br />payment, INPRS will reimburse your expense as part of your pension relief payment in June. If CavMac doesn't confirm <br />payment, you will not receive reimbursement. <br />Sincerely, <br />