Item - 2022.GL31.3

The General Government and Licensing Committee:  

1. In accordance with Section 71-11.1C of the City of Toronto Municipal Code Chapter 71 (Finance Control) authorized the City Solicitor to increase the value of the retainer with Osler, Hoskin & Harcourt LLP on Purchase Order 6035311 by an additional $75,000, from $1,200,000 to $1,275,000, net of all applicable taxes and charges and extended the term validity date to December 31, 2022.

The law firm of Osler, Hoskin & Harcourt LLP (Osler) was retained in 2012 by the City to provide legal advice and support with the merger of City-sponsored legacy pension plans with the Ontario Municipal Employee's Retirement System.

A small number of isolated individual surplus distribution issues remain outstanding, where Osler's guidance is still required, as well as the transition to City administration of the Police Retirement Compensation Arrangement. By letter dated March 14, 2022 from the City Solicitor, the time for completion was extended to December 31, 2022.  The current retainer stands at $1,200,000.

An additional $75,000 on top of the current retainer amount should be sufficient to complete the outstanding matters by the end of 2022. 

Osler's longstanding involvement in this multi-year process and their effective guidance on the numerous unanticipated complexities arising over time, suggests that it would not be prudent and would cause delay and additional cost to the City to go to market to retain a new firm which would not have the history and familiarity with this nearly-completed matter.