Ocala Police Officers' Retirement Fund Board of Trustees Agenda 2026-06-29
Staff backs Foster & Foster for police pension admin
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Description
City staff recommends Foster & Foster Actuaries and Consultants to provide professional plan administration services for the Ocala Police Officers’ Retirement System. The proposal includes a three-year guaranteed fee structure with an annual retainer and specified rates for special projects. The Board is asked to act on this motion-ready recommendation.
Contract Details
Vendor
FOSTER & FOSTER ACTUARIES & CONSULTANTS
Agency
Ocala Housing Authority, FL
Contract Type
PROFESSIONAL_SERVICES
Document Date
June 29, 2026
Contract Term
Three (3) years (fees guaranteed for three years from effective date)
Renewal Info
Annual retainer of $85,000 payable monthly, guaranteed for three years from the effective date; fees and hourly rates adjusted annually thereafter based on CPI-U, effective each October 1. A 10% discount applies if general and fire plans also hire Foster & Foster as administrator.
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