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Council authorizes new contract with AccuSure following acquisition of Mackinaw/Hop (annual fee increase noted)
Summary
City approved a professional services agreement with AccuSure Mid-Atlantic Partners Insurance Services (successor to Mackinaw/Hop) to provide actuarial services for city pension plans; staff said representatives and services remain the same and annual fee increased about $1,500 across three plans.
Williamsport City Council on March 27 authorized a professional services agreement with AccuSure Mid-Atlantic Partners Insurance Services LLC after AccuSure acquired the city's incumbent actuary (referred to in the meeting as Mackinaw/Mack and Hop). City staff told the finance committee that the staff and services will remain the same under AccuSure and that the annual fees will increase by about $500 per pension plan (approximately $1,500 total across three plans).
City staff said AccuSure will provide the same scope of actuarial services, including regular biennial or annual valuation and advisory work, and that staff meets with the provider regularly. Council approved the authorization by roll-call vote, 7-0.
Finance committee members said the fee increase was not unexpected in the current market and suggested reviewing options at contract renewal if future increases occur.
