Common use of Fixed Fee Services Clause in Contracts

Fixed Fee Services. Fixed Fee Services are the following: (a) Review of the Standards for Actuarial Work. The Actuary shall conduct an initial review of the Standards of Actuarial Work and deliver a final written report of the review by April 1, 2020 (or such other date as may be agreed upon with the Executive Director). The review will evaluate the standards’ conformity with applicable state statutes and actuarial standards. The review will also evaluate the standards for technical accuracy, clarity and conformity with actuarial best practices. The Actuary must produce a report that explains its findings and describes any recommended changes. At the request of the Commission, the Actuary will present their review to the Commission.