HomeMy WebLinkAboutMINUTES - 06212011 - C.93RECOMMENDATION(S):
APPROVE and AUTHORIZE the County Administrator, or designee, to execute a contract
extension with Buck Consultants, to extend the term of the contract for pension consulting
from June 30, 2011 to June 30, 2012, with no change in payment limit of $200,000.
FISCAL IMPACT:
The cost of the contract will be paid out of the cost center for employee pensions and
benefits.
BACKGROUND:
Buck Consultants , LLC (Buck) has previously helped Contra Costa County with GASB 45
compliance and Other Post Employment Benefit (OPEB) analysis. With the guidance of
Buck, the County reduced its OPEB liability by nearly two-thirds.
Buck is an expert in Pension Liability Management. This contract will allow the County to
address rising pension costs which are unsustainable in their present form. Buck will assist
the County in the development of alternative benefit formulas and will provide cost savings
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 06/21/2011 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
ABSENT:Gayle B. Uilkema, District II
Supervisor
Contact: Lisa Driscoll,
925-335-1023
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED: June 21, 2011
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C. 93
To:Board of Supervisors
From:David Twa, County Administrator
Date:June 21, 2011
Contra
Costa
County
Subject:Contract Extension with Buck Consultants
BACKGROUND: (CONT'D)
analysis for each proposed alternative.
On August 25, 2009 the Board of Supervisors approved a contract with Buck Consultants in
the amount of $200,000. The project has not been completed and as a result the term needs
to be extended.
CONSEQUENCE OF NEGATIVE ACTION:
The County would not have the actuarial expertise to develop alternative benefit formulas.
CHILDREN'S IMPACT STATEMENT:
None.