Contracts & Agreements_4-1944 - Laserfiche WebLink

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Minimum Age for Voluntary Classification =bumber Service Retirement 1. City firemen, as defined in Section 9c of the State 1 Employees, Retirement Act. 2. City Policemen, as defined in Section Rb of the State Employees' Retirement Act. r 3• Employees other t' an City Firemen and City Policemen As provided in the Retirement ?pct 3. Should the parties of the second part encounter In the va Nation any unusual situation or should said parties of the second part be requested by the warty of the first part to make further valuations of different combinations of, benefits and contributions, which might require ar additional expenditure of time, said situation and request shall be brought to the attention of the Board of Administration, State Employees' Retirement System, for further consideration. It as understood that the time expended in connection with said unusual situation and Furth-r valuation, as n-t included within the fee stated herein.. 4. The party of the first part agrees to furnish to the pprtles of tha second part, through said Board of %ministration, the data relative to its em- ployees, past and present, necessary for the determination of said approximate contribution. Both parties understand that said Board of Administration will make available to the parties of the second part various tables and schedules of rates based on the experience under said Retirement Systam among members thereof, as determined an previous investigations and valuations. Both parties likewise understand that in accordance with said Retirement Act, the work to be performed by the parties of the second past shall be performed under the direction of the actuary of the Retirement System, and that all data in connection with said work, including work sheets, final results, and retorts from said :parties of the sec- and part, shall be the property of the Roard of Administration and shall be delivered to said Board at the conclusion, of said work. 5. For the full performance and completion of said services, the parties of t. a send part shall receive from the party of the first part, the sum of :,� subject to adjuetmett on account of variation in the number of em- pAyees whose membersl ips are confempla.ted, and for -%Thom data are submitted as provided an paragraph 4, hereof, from the num}ger of such employees stated 3n para- graph 2, and subject to any adjustment :rade on aenoant of any unusual situation, or on account of further valuations of different combinations of benefits and contributions requested by the party of the first part, as hereinbefore provided. The party of the first part agrees that the sum faxed an this paragraph as com- pensation for the services to be performed by the- parties of the second part, shall cover only the calculations and conferences between Ke officers and employ- ees of the Board of Administration and the pa-ties of the second part, necessary in the determination of said approximate as distinguished from the definitive contribution, excluding conferences between said party of the first part and r parties of the second part. It as understood aro a0reed that the party of the F113-2 1-40 200