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<br />1 <br />160 Bovet Road, Suite 203 <br />San Mateo, CA 94402 <br />(650) 341-3311 <br />rael-letson.com <br /> <br /> <br />February 20, 2026 <br /> <br /> <br />Via Email (cyi@cityofpleasantonca.gov) <br /> <br />Chris Yi <br />Financial Services Manager <br />City of Pleasanton <br />P.O. Box 520 <br />Pleasanton, CA 94566 <br /> <br />Re: OPEB Actuarial Services <br /> <br />Dear Mr. Yi: <br /> <br />Thank you for the opportunity to submit our proposal for OPEB actuarial valuation services for the <br />City of Pleasanton. Our work would include the City and Livermore-Pleasanton Fire Department <br />June 30, 2025 OPEB actuarial funding valuations as well as 2025/26 and 2026/27 GASB 75 <br />disclosures. <br /> <br />Enclosed is information about Rael & Letson and our team that would be assigned to the project. <br /> <br />Project Scope <br />Our services will include: <br /> <br /> June 30, 2025 actuarial valuation reports provided separately for City and Fire <br /> Plan funded status, <br /> Review and recommendations on all actuarial assumptions, including long-term expected <br />investment returns based on Rael & Letson’s stochastic model, <br /> 2026/27 and 2027/28 actuarially determined contributions, <br /> Long term (10+ year) contribution and funded status projection and other information to help <br />guide prudent funding policy, <br /> CERBT valuation packet. <br /> <br /> GASB 75 reports separately for City and Fire <br /> Covering fiscal years 2025/26 and 2026/27, <br /> Will be provided separately from the June 30, 2025 actuarial valuation funding report, <br /> Will include all actuarial information for financial statements as well as journal entries. <br /> <br />We will have a video call with the City to discuss the results of each report. <br />Docusign Envelope ID: CBBDDDD1-569D-43D7-A1DA-FAD8F962C4B1