EXHIBIT H 

Detailed Time Records for Segal Consulting 

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 1 of 35
ìt Segal Consulting

101 North Wacker Dr.

Suite 500

Ch¡cago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numbe¡:14812

For professional consulting services in February 2018:

Re: Matter 001 Actuarial Analysis

March 15, 2018

Date

2t1t2018

2t112018

2t1t2018

21112018

21112018 Libauskas, Jacob

21112018 Libauskas,Jacob

Updates to TRS modelworkbook

Cash flow projection model - practice demonstration

Cash flow projection model - practice demonstration

Reviewing TRS projected benefit payments and updating

projected benefit payments for retirements through June

30,2017.

Updating modeling spreadsheet for ERS split by law

groups to reflect retirements through June 30, 2017

Calculating the projected benefit payments for ERS split

by law groups

TRS Modelupdates

Cash flow projection model - practice demonstration

Cash flow projection model - practice demonstration

Updating modeling spreadsheet for ERS split by law

groups to reflect retirements through June 30, 2017

Updating modeling spreadsheets to present to retiree

committee and other professionals on February 7th.

Updating ERS, TRS, and JRS projections to incorporate

in the modeling spreadsheet for February 7th, meeting

JRS Model Spreadsheet updates

Updating ERS, TRS, and JRS projections to incorporate

in the modeling spreadsheet for February 7th meeting

Final edits to cash flow projection model prior to RC

meeting

JRS Model spreadsheet updates

Updating modeling spreadsheet for February 7th meeting

Updating ERS, TRS, and JRS projections to ¡ncorporate

in the modeling spreadsheet for February 7th meeting

Review of modeling spreadsheet in preparation for

Retiree Committee meeting

Updating modeling spreadsheet for February 7th meeting

Review of modeling spreadsheet in preparation for

Retiree Committee meeting

Review of modeling spreadsheet in preparation for

Retiree Committee meeting

Reviewing Dental plan actuarial value calculations

Updating Rx actuarial values with new utilization

numbers.

Exchanging emails with professionals regarding followups from retiree committee meeting

Analysis of projections without the effect of Law 3 with

actuarial team.

Staff Member

Tabernacki, Patryk

Strom, Matthew A.

Nicholl, Kim M.

Libauskas, Jacob

Hours

5.30

1.10

1.10

1.60

Value

1,749.00

605.00

748.00

608.00

684.00

950.00

1,782.00

330.00

408.00

'1,596.00

1,292.00

608.00

2,574.00

2,584.00

1,55'1.00

1,634.00

532.00

660.00

874.O0

1,595.00

1,102.00

774.O0

731.00

988.00

828.00

2t2t2018

2t2t2018

21212018

2t2t2018

't.80

2.50

3.40

1,60

5.40

0.60

0.60

4.20

Tabernacki, Patryk

Strom, Matthew A.

Nicholl, Kim M.

Libauskas, Jacob

21412018 Libauskas,Jacob

21412018 Libauskas,Jacob

2t5t2018

2t5t2018

Tabernacki, Patryk

Libauskas, Jacob

7,80

6.80

4.70

4.30

1.40

21512018 Strom, Matthew A. 3.20 1,760.00

2t612018

2t6t2018

2t612018

Tabernacki, Patryk

Libauskas, Jacob

Libaüskas, Jacob

2t6t2018

2t7t2018

2t7t2018

2t7t2018

2t712018

2t8t2018

2t9t2018

2t12t2018

Strom, Matthew A.

Libauskas, Jacob

Strom, Matthew A.

Libauskas, Jacob

Janus, Paul J

Janus, Paul J

Libauskas, Jacob

Bridges, Geoffrey W

1.20

2.30

2.90

2.90

1.80

1.70

2.60

'1.80

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 2 of 35
2t12t2018

2t12t2018

2113t2018

2t13t2018

2t15t2018

2t20t2018

2t21t2018

2t22t2018

2t23t2018

2t26t2018

212612018

2t28t2018

Libauskas, Jacob

Strom, Matthew A.

Nicholl, Kim M.

Libauskas, Jacob

Janus, Paul J

Libauskas, Jacob

Libauskas, Jacob

Libauskas, Jacob

Libauskas, Jacob

Bridges, Geoffrey W

Libauskas, Jacob

Libauskas, Jacob

Setting up valuation software to estimate projected

benefits if Laws 3 and 70 were not enacted.

Discuss Law 3 valuation approach

Analysis of past laws on ERS

Setting up valuation software to estimate projected

benefits if Laws 3 and 70 were not enacted.

Finalize documentation of assumptions in actuarial

values spreadsheet.

Updating valuation software to project benefits as if Law

3 had never been passed.

Updating valuation software to project benefits as if Law

3 had never been passed.

Updating valuation software to project benefits as if Law

3 had never been passed.

Updating valuation software to project benefits as if Law

3 had never been passed.

Reviewed coding updates to back out the impact of Law

Setting up modeling spreadsheet as if Law 3 was never

enacted.

Setting up modeling spreadsheet as if Law 3 was never

enacted.

3.80

0.80

1.30

2.60

1.50

1.70

1.50

1.80

5.20

2.20

2.60

0.80

1,444.00

440.00

884.00

988.00

645.00

646.00

570.00

684.00

'r,976.00

1,012.00

988.00

304.00

Fee summary:

Name

Bridges, Geoffrey W,

Janus, Paul J

Libauskas, Jacob

Nicholl, Kim M.

Strom, Matthew A.

Tabernacki, Patryk

TOTAL HOURSA/ALUE

Rate

460.00

430.00

380.00

680.00

550.00

330.00

Hours

4.00

5.00

55.40

3.00

9.80

23.20

100.40

Value

1,840.00

2,150.00

21,052.00

2,040.00

5,390.00

7,656.00

40,128.00

$40,128.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 3 of 35
ìt S*gal Cc¡nsulting

101 North Wacker Dr.

Sulte 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Glient Numberz 14812

For professional consulting services in February 2018:

Re: Matter 002 Research

March 15, 2018

Date

2ls/20t8

2/s/20t8

2/6/20L8

2/!3/20t8

2/13120!8

2/t3/20t8

2/20/20t8

2/20120L8

Staff Member

Nicholl, Kim M

Nicholl, Kim M

Nicholl, Kim M

Nicholl, Kim M.

Libauskas, Jacob

Strom, Matthew A.

Wohl, Stuart

Noonan, Mark J.

Review documents distributed for Retiree Committee

meeting

Review fiscal plan violation letters

Review of multiple emails between Jenner and Bennazar

concerning Highway Transportation Authority

Review of revised fiscal plan

Reviewing new fiscal plan

Reviewing new fiscal plan

Review revised fiscal plan

Review Healthcare reform section of updated Puerto Rico

fiscal plan

2.60

1.70

1.80

1.70

0.40

Hours

1.50

0.70

0.90

Value

1,020.00

476.00

612.00

1,768.00

646.00

990.00

1,037.00

224.OO

Value

646.00

3,876.00

224.00

990.00

1,037.00

6,773.00

$6,773.00

Fee summary:

Total:

EIN# l3-197512s

Name

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Strom, Matthew A,

Wohl, Stuart

TOTAL HOURSA/ALUE

Rate

380.00

680.00

560.00

550.00

610.00

Hours

1.70

5.70

0.40

1.80

1.70

11.30

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 4 of 35
ì* Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Commonwealth of Puerto Rico

c/o Jennerand Block LLP

Client Number;14812

For professional consulting services in February 2018:

Re: Matter 004 Professional Calls and Meetings

March 15,2018

2/20/2}tg Noonan, Mark J

2/28/20L8 Noonan, MarkJ.

Fee summary:

Call with FTI and Jenner to discuss new fiscal plan

Callwith FTI (Gibson, Fish) and Segal (Noonan, Wohl) to

review Healthcare section of February revised fiscal plan.

Conference call with Stu Wohl and FTI Consulting on

Healthcare reform section of updated Puerto Rico fiscal

plan dated 112412018 and 211212018.

Participate in conference call with Zolfo Cooper and FTI on

Coope/s observations on the structure of the health care

system in Puerto Rico and sharing of information they

gathered from meeting with health care administrators.

Date

2/t4/20t8

2/20/2018

Total:

Staff Member

Nicholl, Kim M,

Wohl, Stuart

Name

Nicholl, Kim M.

Noonan, Mark J.

Wohl, Stuart

TOTAL HOURSA/ALUE

Rate

680.00

560.00

610.00

Hours

0.80

0.70

0.70

1.50

Hours

0.80

2.20

0.70

3.70

Value

544.O0

427.O0

392.00

840.00

Value

544.00

1,232.00

427.00

2,203.00

$2,203.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 5 of 35
It Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number:14812

For professional consulting services in February 2018:

Re: Matter 005 Preparation of Reports

March 15, 2018

Hours

0.70

0.70

o.20

0.70

0.50

Value

427.00

182.00

52.00

280.00

130.00

Value

280.00

364.00

427.O0

1,071.00

$1,071 .00

2/2212Ot8 Kovach, Patricia L.

2128/2018 Kovach, Patricia L,

2/22/2OL8 Clark, Melanie C.

2/28/20L8 Kovach, Patricia L.

Fee summary

Staff Member

Wohl, Stuart

Name

Clark, Melanie C.

Kovach, Patricia L.

Wohl, Stuart

TOTAL HOURSA/ALUE

Date

2/22/2018 Review report status, including suggested next steps, with

Segal team (Wohl, Kovach, Clark)

Review report status, including suggested next steps, with

Segal team (Wohl, Kovach, Clark)

Creating a chart that shows the actuarial value, the

average premium, and the range of premiums for each

Puerto Rico Plan.

Review report status, including suggested next steps, with

Segalteam (Wohl, Kovach, Clark)

Adding the frequency of members to premium rate table

for Healthcare in Puerto Rico presentation.

Rate

400.00

260.00

610.00

Hours

0.70

1.40

0.70

2.80

Total

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 6 of 35
* Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numben 14812

For professional consulting services in February 2018:

Re: Matter 006 Retiree Committee Meetings

March 15, 2018

Date

2/6/20L8

2/6120L8

2/7 la}tg

217/2018

2/8/20t8

218/2018

Staff Member

Libauskas, Jacob

Strom, Matthew A.

Libauskas, Jacob

Strom, Matthew A.

Libauskas, Jacob

Strom, Matthew A.

Traveling to Puerto Rico - billed at half time

Traveling to Puerto Rico - billed at half time

Attending and presenting at Retiree Committee meeting

Attending and presenting at Retiree Committee meeting

Traveling from Puerto Rico - billed at half time

Traveling from Puerto Rico - billed at half time

Hours

4.t0

4.L0

4.00

4.00

4.80

4.80

Value

1,558.00

2,255.00

1,520.00

2,200.00

1,824.00

2,640.00

Fee summary:

Total:

EIN# t1-1975125

Name

Libauskas, Jacob

Strom, Matthew A.

TOTAL HOURSA/ALUE

Rate

380.00

550.00

Hours

12.90

12.90

25.80

Value

4,902.00

7,095.00

11,997.00

$11,997.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 7 of 35
ìÉ Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numberz 14812

For professional consulting services in February 2018:

Re: Matter 018 Case Management

March 15, 2018

Date

2/6/2Ot8

2/20/2018

2/2t/2018

2/27/20t8

2/27/20L8

Staff Member

Nicholl, Kim M.

Bridges, Geoffrey W

Strom, Matthew A.

Nicholl, Kim M.

Bridges, Geoffrey W

Preparation of January billing statement

Worked on preparing billing information / exhibits.

Review january detailed invoice

Reviewed letter from fee examiner.

Reviewed letter from fee examiner. Provided

information to Segal staff on expectations to address

feedback from fee examiner.

Hours

4.70

0.90

0.80

0.70

0.70

Value

3,196.00

414.00

440.00

476.00

322.00

Fee summary:

Total

Name

Bridges, Geoffrey W.

Nicholl, Kim M.

Strom, Matthew A.

TOTAL HOURSA/ALUE

Rate

460.00

680.00

550.00

Hours

1.60

5.40

0.80

7.80

Value

736.00

3,672.00

440.00

4,848.00

$4,848.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 8 of 35
lÇ Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number;14812

SUMMARY OF PROFESSIONAL SERVICES

Name

Bridges, Geoffrey W.

Clark, Melanie C.

Janus, Paul J

Kovach, Patricia L.

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Strom, Matthew A.

Tabernacki, Patryk

Wohl, Stuart

TOTAL HOURSA/ALUE

Total:

EIN# t3-1975125

March 15, 2018

Rate

460.00

400.00

430.00

260.00

380.00

680.00

560.00

550.00

330.00

610.00

Hours

5.60

0.70

5.00

1.40

70.00

14.90

2.60

25.30

23.20

3.10

Value

2,576.00

280.00

2,'150.00

364.00

26,600.00

10,'132.00

1,456.00

1 3,915.00

7,656.00

1,891.00

151.80 67,020.00

$67,020.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 9 of 35
ìÇ Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jennerand Block LLP

Glient Number:14812

For professional consulting services in March 2018:

Re: Matter 001 Actuarial Analysis

April 15, 2018

Date

3t1t2018

3t1t2018

31512018 Strom, MatthewA.

31512018 Libauskas,Jacob

Provided projected cash flow numbers to Jake.

Discussions (Clark, Kovach, Wohl) on ways to highlight

actuarial values

Cash flow projections prior to benefit reforms

Programming software to project benefits before Law 3

and Law 106 and setting up spreadsheet to summarize

the difference.

Worked on developing adjustment for post 71112013

retirees for projection if Law 3 not reflected.

Reviewing data and estimates of increases to retiree

benefits if Law 3 had not been enacted.

Worked on adjusting retiree benefits to reflect

hypothetical scenario where Law 3 was not implemented.

Preparation of analysis of Law 3 on pension benefits and

retirement patterns.

Updating projected benefit payments assuming Law 3

was never enacted based on its effects on current

retirees.

Review most recent health background report with

Kovach

Preparation of spreadsheet showing impact of Laws 3

and 106 for today's call with professionals

Updating Health Care in Puerto Rico presentation with

new 2018 premiums and2017 enrollment numbers.

Review presentation, workbook & next steps with M.

Clark

Team meeting (Kovach, Clark, Wohl) to discuss 2018

actuarial analysis of plans and rates.

Review of actuarial value work with M. Clark.

Verify percentage of pensions under $1500

Review of benefit payment projections

Work on open group projection forecast for TRS

Setting up and running an open group forecast projection

for TRS

Analysis of benefit payment projections in March 23 fiscal

plan

Open group projection for TRS

Analysis of TRS plan of benefits in valuation coding.

Reviewing programming for TRS open group benefit

payment projection

Staff Member

Bridges, Geoffrey W

Kovach, Patricia L.

Hours

0.50

0.60

1.20

4.80

1.60

Value

230.00

156.00

660.00

1,824.00

608.00

1,428.OO

525.00

1,368.00

316t2018

3t6t2018

3t7t2018

3t7t2018

3t8t2018

3t8t2018

31912018

3t15t2018

3t15t2018

3t16t2018

Bridges, Geoffrey W

Libauskas, Jacob

Bridges, Geoffrey W

Libauskas, Jacob

Libauskas, Jacob

Wohl, Stuart

Libauskas, Jacob

Kovach, Patricia L.

Kovach, Patricia L.

Wohl, Stuart

3.50

3.30

2.80

3.50

3.90

0.20

1.30

'1.00

0.70

0.60

1,610.00

1,254.00

1,288.00

1,330.00

1,482.00

122.00

494.00

260.00

182.00

366.00

3t16t2018

3t19t2018

311912018

3t22t2018

3123t2018

3t26t2018

3t28t2018

312812018

312412018 Libauskas, Jacob

Janus, Paul J

Strom, MatthewA.

Nicholl, Kim M.

Nicholl, Kim M.

Libauskas, Jacob

Nicholl, Kim M.

Hartman, Brian T.

Libauskas, Jacob

0.60

0.80

1.10

3.20

1.70

258.00

440.00

748.00

2,176.00

646.00

2.10

1.50

3.60

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 10 of 35
3129t2018

3130t2018

313012018

Hartman, Brian T.

Hartman, Brian T.

Libauskas, Jacob

Preparation of new entrant coding for projection of

benefits.

Preparation of new entrant coding for projection of

benefits.

Open group projection of benefit payments for TRS that

reflects new hires after July 1,2015.

4.60

4.20

3.20

1,610.00

1,470.00

1,216.00

Fee summary:

Name

Bridges, Geoffrey W.

Hartman, Brian T.

Janus, Paul J

Kovach, Patricia L,

Libauskas, Jacob

Nicholl, Kim M.

Strom, Matthew A.

Wohl, Stuart

TOTAL HOURSA/ALUE

Rate

460.00

350.00

430.00

260.00

380.00

680.00

550.00

610.00

Hours

6.80

10.30

0.60

2.30

26.90

6.40

2.00

0.80

56.10

Value

3,128.00

3,ô05.00

258.00

598.00

10,222.00

4,352.00

1,100.00

488.00

23,751.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 11 of 35
ìÇ Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Glient Number:14812

For professional consulting services in March 2018

Re: Matter 003 Data Analysis

April 15, 2018

Date

3t15t2018

3t21t2018

3t21t2018

Staff Member

Wohl, Stuart

Bridges, Geoffrey W

Nicholl, Kim M.

Analyze data for Medicare participants to try to

determine enrollment in each of the available

Follow up request to Milliman for data on

System 2000 participant accounts.

Follow up request to Milliman for data on

System 2000 participant accounts.

Hours

1.60

0.60

0.60

Value

976.00

276.OO

408.00

Value

276.00

408.00

976.00

1,660.00

Fee summary:

ErN# l3-197s125

Name

Bridges, Geoffrey W.

Nicholl, Kim M.

Wohl, Stuart

TOTAL HOURSA/ALUE

Rate

460.00

680.00

610.00

Hours

0.60

0.60

1.60

2.80

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 12 of 35
ìt Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number:14812

For professional consulting services in March 2018:

Re: Matter 004 Professional Calls and Meetings

Date Staff Member

3/L|2OLB Libauskas, Jacob Call with Jenner and FTI discussing requests from a

mediator.

3/!/ZOL8 Nicholl, Kim M. Callwith FTl, Jenner, Strom and Libauskas to discuss

request from mediator

3/L/ZOLS Strom, Matthew A. Call with FTl, Jenner, Strom and Nicholl to discuss request

from mediator

3/6/2018 Strom, Matthew A. Call with Hector and Francisco to discuss cash flow

projections

3/9/ZOL8 Libauskas, Jacob Call with professionals to discuss impact of Law 3 and 106

on projected benefit payments.

3/9/2OLg Nicholl, Kim M. Call with professionals to discuss impact of Law 3 and 106

on projected benefit payments.

3/g/2}lg Wohl, Stuart Committee Professionals (Jenner, Bennazar, FTl, Segal)

call

3/tg/2OI8 Libauskas, Jacob Discussion with professionals regarding projected benefit

payments for ERS as well as what is needed to provide

3/20/2OlB Libauskas, Jacob Calls with Liz at FTI to discuss the ERS projected benefit

payments and how they compare to the fiscal plan.

3l2O/20L8 Nicholl, Kim M. Creditor work group update

3/28/20L8 Libauskas, Jacob Emails with professionals discussing oversight board's

March 28 letter

Fee summary:

April 15, 2018

Hours

0.50

0.50

0.50

0.70

1.20

1.20

1.20

1.40

0.50

0.60

0.60

Value

190.00

340.00

275.00

385.00

456.00

816.00

732.00

532.00

190.00

408.00

228.00

Name

Libauskas, Jacob

Nicholl, Kim M,

Strom, Matthew A.

Wohl, Stuart

TOTAL HOURSA/ALUE

Rate

380.00

680.00

550.00

610.00

Hours

4.20

2.30

1.20

1.20

8.90

Value

1,596.00

1,564.00

660.00

732.OO

4,552.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 13 of 35
ìt Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jennerand Block LLP

Client Number:14812

For professional consulting services in March 2018:

Re: Matter 005 Preparation of Reports

Date

3/tl20L8

Staff Member

Wohl, Stuart

April 15, 2018

Hours

0.40

Value

244.00

312.00

160.00

442.00

52.00

52.00

280.00

520.00

240.00

754.00

156.00

Value

1,200.00

1,768.00

244.00

3ltl20t8

3/t/2018

3/7/2Ot8

3/7/2O!8

3/8/20L8

3hs/2OL8

3/ts/20L8

3/!6/2OL8

Kovach, Patricia L,

Clark, Melanie C.

Kovach, Patricia L.

Kovach, Patricia L.

Kovach, Patricia L.

Clark, Melanie C.

Clark, Melanie C.

Clark, Melanie C.

Discussions (Clark, Kovach, Wohl) on ways to highlight

actuarial values

Updating health care in Puerto Rico based on suggestions

form S. Wohl

Discussions (Clark, Kovach, Wohl) on ways to highl¡ght

actuarial values

Updating Health Care in Puerto R¡co presentation based on

discussion with M. Clark.

Meeting with M. Clark discussing modifications to Health

Care in Puerto Rico Presentation.

Meeting with S. Wohl to review most recent report

changes

Review presentation, workbook & next steps with P.

Kovach

Review data, actuarial values & premium comparisons for

presentation

Team meeting (Kovach, Clark, Wohl) to discuss 2018

actuarial analysis of plans and rates.

Researching pre-65 premiums for 2018

Team meeting (Kovach, Clark, Wohl) to discuss 2018

actuarial analysis of plans and rates.

Rate

400.00

260.00

610.00

1.20

0.40

1.70

0.20

0.20

0.70

1.30

0.60

3/t6/2018

3/L6/20L8

Kovach, Patricia L.

Kovach, Patricia L.

2.90

0.60

Hours

3.00

6.80

0.40

Fee summary;

Name

Clark, Melanie C.

Kovach, Patricia L.

Wohl, Stuart

TOTAL HOURSA/ALUE 10.20 3,212.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 14 of 35
ìt Segal Cr¡nsulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (3,l2) 896-9364

Official Gommittee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Glient Numbe¡:14812

For professional consulting services in March 2018:

Re: Matter 00ô Retiree Committee Meetings

April 15, 2018

Date

3/ts/2oL8

3/ts/20L8

Staff Member

Nicholl, Kim M

Wohl, Stuart

Name

Nicholl, Kim M.

Wohl, Stuart

TOTAL HOURSA/ALUE

Retiree Committee conference call

Retiree Committee meeting

Hours

2.60

2.60

Hours

2.60

2.60

0.00

Value

1,768.00

1,586.00

Value

1,768.00

1,586.00

3,354.00

Fee summary:

EiN# \3-1975125

Rate

680.00

610.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 15 of 35
ìÇ Segal Cc¡nsulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Glient Number:14812

For professional consulting services in March 2018

Re: Matter 018 Case Management

April 15, 2018

Date

3/Ll20L8

3/Ll20L8

3/tl20!8

3/L/20L8

3/tl2018

312/20!8

3/2/20t8

3/s/2o!8

3/t9/2018 Nicholl, Kim M

3/22/20L8 Nicholl, Kim M

Updated January time for fee examiner exhibits.

Discussion with Katie Stadler concerning the fee

examiner letter

Review of fee examiner letter

Discussion with Stu Wohl about the fee examiner

letter

Fee examiner discussions

Worked on fee application.

Work on quarterly fee examiner application

Reviewing emails related to scheduling professional

ca lls

Assistine in the oreparation of the fee aoolication.

Worked on fee application and supporting

Work on fee examiner application

lnterim fee application

Preparation of February invoice

Work on fee examiner application

Working on fee invoice and budgets.

Work on monthly billing

Work on fee examiner application

Work on monthly billing

Work on fee examiner application

Determining fees paid amount for fee examiner

report. Reconciling issue with non-working travel time

fee adjustment.

Preparation of fee application for second interim

period

Email correspondence concerning account balances

for members of ERS

Review of Oversight Board's issues letters related to

latest fiscal plan

Staff Member

Bridges, Geoffrey W

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M.

Wohl, Stuart

Bridges, Geoffrey W,

Nicholl, Kim M.

Nicholl, Kim M.

Bridses. Geoffrev W.

Bridges, Geoffrey W,

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M,

Bridges, Geoffrey W.

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M.

Bridges, Geoffrey W.

Hours

0.40

o.20

1.10

0.30

Value

184.00

136.00

748.00

204.00

183.00

2,024.00

1,428.00

272.00

0.30

4.40

2.r0

0.40

31812018

3/!2/20t8

3/12/20!8

3/t2/20t8

3lL3l20t8

3lL3/2018

3/14/2018

3/!4/20L8

3/ls/2OL8

3lts/2018

3/1.6/20!8

3/ts/20!8

2.50

2.60

1,30

5.60

5.20

2.20

1..30

3.70

3.20

1.50

2.20

L.70

1 ,1 50.00

1 ,1 96.00

884.00

3,808.00

3,536.00

1,496.00

598.00

2,516.00

2,176.00

1,020.00

1,496.00

782.00

t.20

0.60

816.00

408.00

3/28120t8 Nicholl, Kim M 0.90 612.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 16 of 35
3/28/20t8 Nicholl, Kim M

Fee summary:

Email correspondence with professionals concerning

the Oversight Board's issue letters,

Rate

460.00

680.00

610.00

0.50

Hours

'l2.go

32.20

0.30

45.40

340.00

Value

5,934.00

21,896.00

183.00

28,013.00

Name

Bridges, Geoffrey W.

Nicholl, Kim M.

Wohl, Stuart

TOTAL HOURSA/ALUE

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 17 of 35
ìÉ Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number:'14812

SUMMARY OF PROFESSIONAL SERVICES

Name

Bridges, Geoffrey W.

Clark, Melanie C,

Hartman, Brian T.

Janus, Paul J

Kovach, Patricia L.

Libauskas, Jacob

Nicholl, Kim M.

Strom, Matthew A.

Wohl, Stuart

TOTAL HOURSA/ALUE

Total:

EIN# t3-t975t25

March 15,2018

Rate

460.00

400.00

350.00

430.00

260.00

380.00

680.00

550.00

610.00

Hours

20.30

3.00

10.30

0.60

9.10

31.10

44.10

3.20

6.90

Value

9,338.00

1,200.00

3,605.00

258.00

2,366.00

1 1 ,818.00

29,988.00

1,760.00

4,209.00

128.60 64,542.00

$64,542.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 18 of 35
ìÇ Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number:'14812

For professional consulting services in April 2018:

Re: Matter 001 Actuarial Analysis

May 15, 2018

Date

4t3t2018

4t4t2018

4t5t2018

4t5t2018

4t10t2018

4t10t2018

4t11t2018

4t11t2018

411112018

Staff Member

Libauskas, Jacob

Hartman, Brian T,

Hartman, Brian T,

Libauskas, Jacob

Libauskas, Jacob

Wohl, Stuart

Hartman, Brian T

Libauskas, Jacob

Wohl, Stuart

Creating and formatting illustrative examples of individual

member cuts

Review and testing of New Entrant test lives for TRS

projections.

Review and testing of New Entrant test lives for TRS

projections.

Reviewing TRS projected benefit payments for new hires

after July 1,2015

Reviewing and updating coding for open group benefit

payment projection for TRS

Analysis of most recent fiscal plan health care section to

Zolfo Cooper analysis from September 2017 of same to

identify differences

Review calculation of projection of New Entrant

payments.

Rerunning TRS open group projection with fix to future

salary increases and new entrant profile

Continue reconciling Zolfo Cooper healthcare analysis

and February 2018 fiscal plan

Review Test Life programming for New Entrant benefits.

Review ERS sample illustrations

Revising the open group projection for TRS to reflect

lower salaries for new hires

Work on open group projections for TRS

Creating a specific new entrant profile based on teachers

hired in the apst 3 years and use to set up 30-year open

Analyzing assumed returns on hybrid accounts.

Setting up open group projection for JRS

Reviewing results of 3O-year open group projection for

TRS by running five-year and one-year open group

Setting up open group projection for JRS

Review of open group projection for TRS

30-year open group benefit projection for TRS assuming

the hybrid plan was never implemented to illustrate the

Open group benefit payment projections

Validation of savings projections for Ml Salud program

from fiscal plan dated 211212018 including comparing

30-year open group projection for TRS with Pre Act 160

benefit provisions and no salary freeze

4.80

7.20

1.20

2.30

1.50

3.00

1.40

1.80

Hours

2.50

Value

950.00

1,680.00

2,520.00

456.00

874.00

915.00

1,050.00

532.00

1,098.00

840.00

1 ,210.00

798.00

1,428.00

1,482.00

230.00

418.00

1,330.00

456.00

1,632.00

1,444.00

715.00

1,232.00

4t12t2018

4t12t2018

4t13t2018

Hartman, Brian T.

Strom, Matthew A.

Libauskas, Jacob

2.40

2.20

2.10

2.10

3.90

0.50

1.10

3.50

1.20

2.40

3.80

1.30

2.20

4t16t2018

4t16t2018

Nicholl, Kim M.

Libauskas, Jacob

4t17t2018

4t17t2018

4t17 t2018

Bridges, Geoffrey W

Libauskas, Jacob

Libauskas, Jacob

4t18t2018

4t18t2018

4t18t2018

Libauskas, Jacob

Nicholl, Kim M.

Libauskas, Jacob

4t18t2018

4t1812018

Strom, Matthew A.

Noonan, Mark J.

411912018 Libauskas, Jacob 2.10 798.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 19 of 35
4t23t2018

4t23t2018

4t23t2018

4t24t2018

4t24t2018

4t24t2018

4t24t2018

4t25t2018

4t25t2018

4t25t2018

4t25t2018

4t25t2018

4t26t2018

4t30t2018

Libauskas, Jacob

Libauskas, Jacob

Hartman, Brian T.

Bridges, Geoffrey W

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Libauskas, Jacob

Libauskas, Jacob

Nicholl, Kim M.

Hartman, Brian T.

Noonan, Mark J.

Hartman, Brian T.

Noonan, Mark J.

Updating modeling spreadsheet for ERS to exclude

benefits expected to be paid by Municipalities.

Rerunning open group projections for TRS with updated

software and programming

Review projection of TRS new entrant benefits.

Review of Puerto Rico proposed cuts compared to Detroit

cuts.

Compiling information regarding the comparison between

benefit reductions in Detroit and Puerto Rico.

Comparison of Detroit pension cuts vs proposed Puerto

cuts

Continue Validation of savings projections for Ml Salud

program from fiscal plan dated 211212018.

Compiling the results of the revised TRS projections and

summarizing them.

Review of revised TRS projections

Review of press release drafis for actuarial information on

pensions

Review projection of TRS new entrant benefits.

continue validation of savings projections for Ml Salud

program from fiscal plan dated 211212018.

Review projection of TRS new entrant benefits.

Edits to summarized Milliman data books regarding

health care costs

Rate

460.00

350.00

380.00

680.00

560.00

550.00

610.00

2.10

1.50

2.20

0.40

2.30

3.50

1.90

1.50

1.90

2.40

7.20

3.50

798.00

570.00

770.00

184.00

874.00

2,380.00

1,064.00

570.00

722.00

1,632.00

2,520.00

1,960.00

2,240.00

1,008.00

Fee summary:

Total:

Name

Bridges, Geoffrey W.

Hartman, Brian T.

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Strom, Matthew A.

Wohl, Stuart

TOTAL HOURSA/ALUE

6.40

1.80

Hours

0.90

33.20

34.40

10.40

9.40

3.50

3.30

95.10

Value

414.00

11,620.00

13,072.00

7,072.00

5,264.00

1,925.00

2,013.00

41,380.00

$41,380.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 20 of 35
ìf Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numbe': 14812

For professional consulting services in April 2018:

Re: Matter 002 Research

Date Staff Member

May 15, 2018

Hours Value

4t9t2018

4t30t2018

4t17t2018

4t18t2018

4t25t2018

Kovach, Patricia L.

Janus, Paul J

Nicholl, Kim M.

Libauskas, Jacob

Libauskas, Jacob

Reviewing data room files.

Savings documentation research

lnterest rate on cash balance account research

Searching for PREPA information available online

Reviewing the FOMB draft labor bill

1.60

0.40

1.10

0.50

0.80

416.00

172.00

748.00

190.00

304.00

Fee summary:

Total:

EIN# t3-1975125

Name

Janus, Paul J

Kovach, Patricia L.

Libauskas, Jacob

Nicholl, Kim M,

TOTAL HOURSA/ALUE

Rate

430.00

260.00

380.00

680.00

Hours

0.40

1.60

1.30

1.10

4.40

Value

172.00

416.00

494.00

748.00

1,830.00

$l,830.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 21 of 35
ìt Segal Consulting

101 North Wacker Dr,

Suite 500

Chlcago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numbe¡;148'12

For professional consulting services in April 2018:

Re: Matter 004 Professional Calls and Meetings

May 15, 2018

Date

413/20t8

413/2018

413/20t8

4/3/20t8

4/s/2018

4/t0/2018

4/23/2018

4/23/20t8

4/23/2018

Staff Member

Strom, Matthew A

Libauskas, Jacob

Nicholl, Kim M.

Wohl, Stuart

Wohl, Stuart

Wohl, Stuart

Libauskas, Jacob

Nicholl, Kim M.

Nicholl, Kim M.

4/tL/2078 Wohl, Stuart

4/7U20I8 Noonan, MarkJ

4/2312018 Libauskas,Jacob

Professionals call with FTI and Jenner

Exchanging emails and a call with other professionals

Professionals call with FTI and Jenner

Professionals call with FTI and Jenner

Professionals (Jenner, Bennazar, FTl, Segal) call

Discussions with FTI (Gibson, Fish) on next steps for

Healthcare analysis.

Discussion (Noonan, Wohl) on how to analyze and validate

savings assumptions from fiscal plan

Discussion (Noonan, Wohl) on how to analyze and validate

savings assumptions from fiscal plan

Callwith Jenner, FTl, and AFSCME discussing COFINA

negotiations and locking down interest credit on cash

balances

Call with Jenner and FTI to discuss interest credits on cash

balance benefits.

Call with Jenner, FTI and Segal to discuss COFINA lawsuit

and pension issues

Callwith Jenner, FTl, and AFSCME discussing COFINA

negotiations and locking down interest credit on cash

balances

Call with Jenner, FTI and Segal to discuss COFINA lawsuit

and pension issues

Call with Jenner and FTI discussing COFINA negotiations

and May 10 meeting in Chicago

Call with Jenner and FTI discussing COFINA negotiations

and May 10 meeting in Chicago

Call with Jenner and FTI discussing COFINA negotiations

and May 10 meeting in Chicago

Call with Jenner and FTI discussing COFINA negotiations

and May 10 meeting in Chicago

Rate

380.00

680.00

560.00

550.00

610.00

Hours

5.90

5.40

0.10

3.90

4.00

19.30

Value

770.00

722.00

952.00

854.00

732.00

183.00

61.00

56.00

570.00

570.00

1,020.00

1,020.00

825.00

680.00

380.00

550.00

610.00

Value

2,242.00

3,672.00

56.00

2,145.00

2,440.00

10,555.00

Hours

1.40

1.90

1.40

1.40

1.20

0.30

0.10

0.10

1.50

1.50

1.50

1.50

4/23/2078

4/30/20t8

4/30/2018

4/30/2078

4130/2078

Strom, Matthew A,

Nicholl, Kim M.

Libauskas, Jacob

Strom, Matthew A.

Wohl, Stuart

1.50

1.00

1.00

1.00

'1.00

Fee summary:

Total:

EIN# t3-1975125

Name

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Strom, Matthew A.

Wohl, Stuart

TOTAL HOURSA/ALUE

$10,555.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 22 of 35
ìÇ Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numbe¡z 14812

For professional consulting services in April 2018

Re: Matter 005 Preparation of Reports

May 15, 2018

Date

4/s/2OL8

4/s/2018

4/s/20!8

4ls/20t8

4lsl20t8

Staff Member

Kovach, Patricia L.

Kovach, Patricia L.

Clark, Melanie C.

Wohl, Stuart

Clark, Melanie C.

Researching pre-65 plan rates for 2018

Review plan descriptions (Clark, Kovach, Wohl)

Review plan descriptions (Clark, Kovach, Wohl)

Review plan descriptions (Clark, Kovach, Wohl)

Review healthcare presentation

Rate

400.00

260.00

610.00

Hours

0.70

2.20

0.40

3.30

Value

468.00

104.00

160.00

244.00

120.00

Value

280.00

572.00

244.00

1,096.00

$1,096.00

Hours

1.80

0.40

0.40

0.40

0.30

Fee summary

Total

EIN# t3-1975125

Name

Clark, Melanie C.

Kovach, Patricia L.

Wohl, Stuart

TOTAL HOURSA/ALUE

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 23 of 35
* Segal Consultlng

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

ClÍent Number:14812

For professional consulting services in April 2018

Re: Matter 018 Case Management

May 15, 2018

4/L6/20t8 Nicholl, Kim M

4/20/20L8 Nicholl, Kim M

Fee summary:

Staff Member

Bridges, Geoffrey W

Bridges, Geoffrey W

Nicholl, Kim M

Nicholl, Kim M

Name

Bridges, Geoffrey W.

Nicholl, Kim M.

TOTAL HOURSA/ALUE

Date

4/s/20L8

4/!2120!8

4/L2/20t8

4/L2/20!8

lnvestigating question about invoice holdbacks.

Double checking information on unpaid invoices by

month.

Billing for March

Review and respond to emails concerning PREPA's

participation on the Retiree Committee

Preparation of May budget figure and March hours

detail for fee examiner

Review of revised fiscal plan

Hours

0.50

o.70

4.60

0.80

Hours

1.20

12.OO

13.20

Value

230.00

322.00

3,128.00

544.00

Value

552.00

8,160.00

8,712.00

$8,712.00

1.40 952.00

s.20 3,536.00

Rate

460.00

680.00

Total

EIN# t3-1975125

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 24 of 35
It Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number:. 14812

SUMMARY OF PROFESSIONAL SERVICES

Name

Bridges, Geoffrey W.

Clark, Melanie C.

Hartman, Brian T.

Janus, Paul J

Kovach, Patricia L.

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Strom, Matthew A.

Wohl, Stuart

ÏOTAL HOURSA/ALUE

Total

EIN# 13-1975125

March 15, 2018

Rate

460.00

400.00

350.00

430.00

260.00

380.00

680.00

560.00

550.00

610,00

Hours

2.10

0.70

33.20

0.40

3.80

41.60

28.90

9.50

7.40

7.70

Value

966.00

280.00

1 1,620.00

172.00

988.00

15,808.00

19,652.00

5,320.00

4,070.00

4,697.00

135.30 63,573.00

$63,573.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 25 of 35
ì* Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Offícial Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Glient Numbe¡:''14812

For professional consulting services in May 20'18:

Re: Matter 001 Actuarial Analysis

June 15,2018

Date

5t1t2018

Staff Member

Noonan, Mark J

Hours

0.40

0.30

0.60

0.40

1.40

'1.60

4.30

6.90

2.70

1.20

2.50

1.10

4.20

1.90

1.90

2.30

0.60

1.80

1.10

Value

224.00

129.00

228.00

272.O0

952.00

1,088.00

1,634.00

2,622.00

1,026.00

456.00

950.00

385.00

1,596.00

722.00

1,064.00

874.00

366.00

1,008.00

473.00

5t1t2018

5t7t2018

5t7t2018

5t8t2018

Janus, Paul J

Libauskas, Jacob

Nicholl, Kim M.

Nicholl, Kim M.

511712018 Noonan, Mark J.

Validation of savings projections for Ml Salud program

from fiscal plan dated 211212018 with particular emphasis

on prescripion drug projection.

Discussion (Janus, Noonan) on validation of Mi Salud

savings review

Updating modeling spreadsheet for May 10 professionals

meeting

Review of distribution of ERS benefits by monthly amount

Review of modeling spreadsheet that shows the effect of

proposed cuts sorted by monthly benefit amount,

expanded to provide more detail

Preparation for meeting with Jenner and FTI to discuss

and present projection modeling tool.

Updating modeling spreadsheet for May 10 professionals

meeting

Updating modeling spreadsheet used to estimate

possible benefit cuts for ERS, TRS, and JRS to extends

possible buckets of retirees to include larger benefit

amounts.

Preparing for professional meeting and follow-up items

after the meet¡ng

Preparing number of active, inactive, and retired

members as of June 30, 2015 split by their benefit

structure for ERS, TRS, and JRS.

Preparing projected TRS benefit payments under various

scenarios for FTI

TRS projection of benefits. Reviewed graph for

reasonableness.

Anaysis of documentation for support and calculation of

the discount rate to be used for claim purposes.

Analysis of historical data on US Treasury yields to

construct a US STRIPS yield curve to potentially use for

claims purposes.

Validation of savings projections for Ml Salud program

from fiscal plan dated 211212018 with particular interest

on Medical projection.

Setting up software to calculate claims for ERS members

as of petition date

Review fiscal plan actuarial assumptions about Medicaid

Healthcare spend.

Continue on validation of savings projections for Ml

Salud program from fiscal plan dated 211212018.

Review validaton of savings projections for Mi Salud

Program.

51812018

5t8t2018

51912018

Nicholl, Kim M.

Libauskas, Jacob

Libauskas, Jacob

5t10t2018

5t14t2018

Libauskas, Jacob

Libauskas, Jacob

511412018

5t1412018

5t1512018

5t1712018

Libauskas, Jacob

Hartman, Brian T.

Libauskas, Jacob

Libauskas, Jacob

5t18t2018

5t18t2018

5t18t2018

5t18t2018

Libauskas, Jacob

Wohl, Stuart

Noonan, Mark J.

Janus, Paul J

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 26 of 35
5t19t2018

5t19t2018

5t21t2018

5t21t2018

5t2112018

5t21t2018

5t21t2018

Libauskas, Jacob

Libauskas, Jacob

Strom, Matthew A.

Nicholl, Kim M.

Libauskas, Jacob

Libauskas, Jacob

Libauskas, Jacob

512112018 Hartman, Brian T

Calculating the aggregate claim amount for ERS

members as of the petition date.

Developing claim amounts for TRS members

Review claim amount calculations

Review of actuarial calculation of proof of claim figures

for ERS, TRS and JRS.

Calculating claim amounts for JRS members and rolling

the results forward to the petition date

Calculating aggregate claim amount for TRS members

and rolling the results fon¡vard to the petition date

Creating a summary exhibit of claim amounts by

retirement system under entry age accrued liability and

present value of future benefits.

ERS: Request from AFSCME, including analyzing/

reconciling the contributions made and interest earned

for System 2000.

Analysis of cash flows for System 2000 based on

Milliman spreadsheets.

Review claim amount calculations

Review of liability amounts for proof of claim

Revising claim amounts to reflect change in the discount

rate

Analysis of System 2000 account balance information

from Milliman

Protecting modeling spreadsheet before sending to

professionals

Analysis of System 2000 account balance information

from Milliman

Review validaton of savings projections for Mi Salud

Program.

Finalizing and sending modeling spreadsheet from May

10 meeting to professionals

Reviewing incons¡stencies in the System 2000 account

balance information

Analysis of System 2000 account balance information

from Milliman

Discussion (Janus, Noonan) on validation of Mi Salud

savings review

Review validaton of savings projections for Mi Salud

Program.

Review validaton of savings projections for Mi Salud

Program.

Analysis of data received on the development of notional

account balances for System 2000 and Law 3 members.

Analysis of System 2000 account balance information

from Milliman

2.30

2.40

3.40

2.40

2.90

2.60

1.10

1.20

874.00

912.00

1,870.00

1,632.00

1,102.00

988.00

418.00

420.00

5t22t2018

5t22t2018

5t22t2018

5t22t2018

5t22t2018

5t23t2018

5t23t2018

5t23t2018

5t24t2018

5t24t2018

5t24t2018

5t24t2018

5t24t2018

5t25t2018

5t29t2018

5t31t2018

Hartman, Brian T.

Strom, Matthew A.

Nicholl, Kim M.

Libauskas, Jacob

Libauskas, Jacob

Libauskas, Jacob

Hartman, Brian T.

Janus, Paul J

Libauskas, Jacob

Libauskas, Jacob

Hartman, Brian T.

Noonan, Mark J.

Janus, Paul J

Janus, Paul J

Bridges, Geoffrey W

Hartman, Brian T.

4.30

0.80

0.80

3.60

0.80

2.40

3.20

1.80

0.80

0.90

3.70

0.30

1.50

3.30

1.20

4.10

Hours

1.20

17.60

8.00

46.40

6.60

4.40

4.20

0.60

89.00

1,505.00

440.00

544.00

1,368.00

304.00

912.00

1,'120.00

774.00

304.00

342.00

1,295.00

168.00

645.00

'1,419.00

552.00

1,435.00

Value

552.00

6,160.00

3,440.00

17,632.00

4,488.00

2,464.00

2,310.00

366.00

37,412.00

Fee summary:

Name

Bridges, Geoffrey W,

Hartman, Brian T,

Janus, Paul J

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Strom, Matthew A,

Wohl, Stuart

TOTAL HOURSA/ALUE

Rate

460.00

350.00

430.00

380.00

680.00

560.00

550.00

610.00

Total: $37,412.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 27 of 35
ì? Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Glient Number:14812

For professional consulting services in May 2018

Re: Matter 002 Research

June 15, 2018

Fee summary:

Total

EIN# t3-1975125

Staff Member

Nicholl, Kim M.

Wohl, Stuart

Name

Nicholl, Kim M.

Wohl, Stuart

TOTAL HOURSA/ALUE

Date

5t1t2018

5t10t2018

Research on treatment of pensioners and other

bankruptcy facts in Central Falls, Rhode lsland as a

Put together brief of results in other Public Sector

Bankruptcies

Hours

1.10

1.00

Value

748.OO

610.00

Value

748.0O

610.00

1,358.00

$l,358.00

Rate

680.00

610.00

Hours

1.10

1.00

2.10

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 28 of 35
ì* Segal Consulting

101 Norlh Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numberz 14812

For professional consult¡ng services in May 2018:

Re: Matter 004 Professional Calls and Meetings

June 15, 2018

Date

s/712018

Staff Member

Libauskas, Jacob

Hours

0.70

0.70

0.70

0.70

5.50

5.50

5.50

1.10

'1.50

0.70

1.00

1.50

0.50

2.00

Value

266.00

476.O0

385.00

427.00

2,090.00

3,740.00

3,025.00

748.00

570.00

266.00

680.00

1,020.00

190.00

1,360.00

5/7/20L8 Nicholl, Kim M

5/7/2018 Strom, Matthew A,

5/7120t8 Wohl, Stuart

5/LOl20L8 Libauskas,Jacob

5/t0/2018 Nicholl, Kim M.

5/L0/20L8 Strom, Matthew A

5/Lt/20t8 Nicholl, Kim M

5/!4/20L8 Libauskas,Jacob

Professionals call with FTl, Bennazar and Jenner to discuss

a mediation update, a proposed article from the retiree

committee, and professional fees

Professionals call with FTl, Bennazar and Jenner to discuss

a mediation update, a proposed article from the retiree

committee, and professional fees

Professionals call with FTl, Bennazar and Jenner to discuss

a mediation update, a proposed article from the retiree

committee, and professional fees

Professionals call with FTl, Bennazar and Jenner to discuss

a mediation update, a proposed article from the retiree

committee, and professional fees

Meeting with FTl, Bennazar, Jenner and Segal to discuss

fiscal plan, projection of benefits, projection modeling tool,

COFINA litigation

Meeting with FTl, Bennazar, Jenner and Segal to discuss

fiscal plan, projection of benefits, projection modeling tool,

COFINA litigation

Meeting with FTl, Bennazar, Jenner and Segal to discuss

fiscal plan, projection of benefits, projection modeling tool,

COFINA litigation

Call with Jenner and a reporter to discuss differences in

circumstances in the Detroit bankruptcy and the Puerto Rico

bankruptcy.

Callwith FTI discussing TRS/JRS plan freeze, projections

assuming the plans continue indefinitely, and the projected

benefits under each scenario.

Call with FTl, Jenner, and Bennazar discussing plan for

tomorroWs meeting

Professional call with FTI and Jenner to discuss FOMB

fiscal plan, projection of pension cashflows and COFINA

litigation

Call with FTI and Segal to discuss COFINA settlement and

forecast of projected benefits from the pension plans under

alternative scenarios

Call with Sean, Liz, and Dora from FTI discussing TRS

member contributions for an ongoing plan

Conference call with FTl, Jenner and Segal to discuss the

COFINA litigation, aggregate claims for the pension plans

and Proof of Claim form, and a opinion piece for the news

s/L4/2Ot8

s/L4/20!8

Libauskas, Jacob

Nicholl, Kim M.

5/L4/20!8 Nicholl, Kim M

s/ts/20L8

s/2L/20t8

Libauskas, Jacob

Nicholl, Kim M.

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 29 of 35
s/2t120L8

5/2t120t8

sl29/2018

s/2912018

Libauskas, Jacob

Wohl, Stuart

Libauskas, Jacob

Strom, Matthew A,

Call with FTl, Jenner, and Bennazar discussing COFINA

counterproposal and proof of claims

Professionals (Benazar, FTl, Segal, Jenner) call (partial

attendance)

Call with FTl, Jenner, and Bennazar

Call with FTl, Jenner, and Bennazar

Rate

380.00

680.00

550.00

610.00

Hours

12.10

1'1.80

7.40

1.50

32.80

760.00

488.00

456.00

660.00

Value

4,598.00

8,024.00

4,070.00

915.00

17,607.00

s17,607.00

2.00

0.80

1.20

1.20

Fee summary:

Total

Name

Libauskas, Jacob

Nicholl, Kim M.

Strom, Matthew A.

Wohl, Stuart

TOTAL HOURSA/ALUE

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 30 of 35
ìÇ Segal Cnnsulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Gommittee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number 14812

For professional consulting services in May 2018:

Re: Matter 006 Retiree Committee Meetings

Date Staff Member

5/23/20L8 Nicholl, Kim M.

5/23/20L9 Libauskas,Jacob

5/23/2018 Strom, Matthew A.

Fee summary:

Name

Libauskas, Jacob

Nicholl, Kim M.

Strom, Matthew A.

TOTAL HOURSruALUE

Total:

EIN# 13-197s125

Retiree Committee callto discuss COFINA litigation,

PREPA status and proof of claim

Retiree Committee call to discuss COFINA litigation,

PREPA status and proof of claim

Retiree Committee callto discuss COFINA litigation,

PREPA status and proof of claim

June 15, 2018

Rate

380.00

680.00

550.00

Hours

1.30

'1.30

1.30

3.90

Hours

1.30

1.30

1.30

Value

884.00

494.00

715.00

Value

494.00

884.00

715.00

2,093.00

$2,093.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 31 of 35
tY Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Gommonwealth of Puerto Rico

c/o Jenner and Block LLP

Glient Number:14812

For professional consulting services in May 2018

Re: Matter 018 Case Management

June 15, 2018

Date

s/tl2ot8

Staff Member

Nicholl, Kim M

Hours

0.80

0.40

0.20

0.20

0.60

0.20

3.70

0.70

Value

544.00

s/212018

s/2120t8

Nicholl, Kim M.

Nicholl, Kim M.

Review of email from Peter Friedman related to tax

withholding on fees and research on information

needed to contest the withholding

Review of email from Glenn Bowen related to the

cashflows for the cash balance accounts for ERS

Review of email from Sean Gumbs related to protests

in Puerto Rico concerning proposed pension and other

cuts

Review of email from Ana Heeren related to published

news in Puerto Rico

Receipt and sending of emails to Bennazar, FTl,

Jenner related to distribution of pension amounts in

our modeling tool for ERS retirees

Review of email from Ana Heeren related to published

stories on Puerto Rico

Researching answers to questions asked by fee

examiner.

Review of time records for response to emails from fee

examiner related to travel time charged during second

fee application

Review of email from Jenner related to withholding of

tax on fees, including a cover letter for future mailinqs

Review of payments received from Puerto Rico to

determine amounts of withholding for tax

Research issues raised in fee examiner's questions

related to second interim application

Reviewing email prepared for the fee examiner.

Review of email from Ana Heeren related to published

stories on Puerto Rico

Preparation of April invoice and budget

Review of hours billed in order to determine how many

Segal hours were worked on site in Puerto Rico for

purposes of the tax withholding issue

lnvestigation question from fee examiner related to

non-working travel time for both the first and second

fee applications.

272.00

136.00

136.00

408.00

136.00

1,702.00

476.00

272.00

340.00

408.00

s/3/20L8

s/7120t8

Nicholl, Kim M.

Nicholl, Kim M.

s/7 /20t8

s/9/20L8

s/s120!8

Nicholl, Kim M.

Bridges, Geoffrey W

Nicholl, Kim M.

s/s/20t8

sls/2018

s/!0120t8

s/Lu2Or8

s/tLl20L8

s11.4/2018

s/!6/20!8

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M,

Bridges, Geoffrey W

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M.

0.40

0.50

0.60

0.40

0.20

5.80

0.80

184.00

136.00

3,944.00

544.00

5/t7 /20t8 Bridges, Geoffrey W 3.90 1,794.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 32 of 35
s/t8/20t8

s/2t/20L8

s/22/20t8

s/23/20!8

Bridges, Geoffrey W

Nicholl, Kim M.

Nicholl, Kim M.

Nicholl, Kim M.

Reviewing letter from fee examiner. Provided feedback

to Segal staff on fee examiner requests.

Review of fee examiner letter concerning second

interim fee application and research of issues raised

Review of fee examiner letter concerning second

interim fee application and research of issues raised

Conference with Fee examiner related to second

interim fee application

Rate

460.00

680.00

0.50

2.10

0.70

0.50

Hours

8.50

14.70

23.20

230.00

1,428.00

476.00

340.00

Value

3,910.00

9,996.00

13,906.00

$13,906.00

Fee summary:

Total:

EIN# 13-t97512s

Name

Bridges, Geoffrey W.

Nicholl, Kim M.

TOTAL HOURSA/ALUE

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 33 of 35
ìf Segal Consufting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax (312) 896-9364

Official Gommittee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Numbe¡:14812

For professional consulting services in May 2018:

Re: Matter 021 Non-working traveltime

June 15,2018

5/10/2018 Strom, Matthew A.

5/L0/2018 Libauskas,Jacob

Fee summary

Staff Member

Nicholl, Kim M

Name

Libauskas, Jacob

Nicholl, Kim M.

Strom, Matthew A.

TOTAL HOURSA/ALUE

Date

s/t0/20L8

Hours

0.50

Value

340.00

Value

190.00

340.00

275.00

805.00

s80s.00

Travel time to the Jenner offices - walk from Segal

offices to Jenner and back

Travel time to the Jenner offices - walk from Segal

offices to Jenner and back

Travel time to the Jenner offices - walk from Segal

offices to Jenner and back

0.50 275.00

0.s0 190.00

Rate

380.00

680.00

550.00

Hours

0.50

0.50

0.50

1.50

Total:

EIN# t3-1975125

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 34 of 35
ìt Segal Consulting

101 North Wacker Dr.

Suite 500

Chicago, lL 60606

Phone: (312) 984-8500

Fax: (312) 896-9364

Official Committee of Retirees in the

Commonwealth of Puerto Rico

c/o Jenner and Block LLP

Client Number:14812

SUMMARY OF PROFESSIONAL SERV]CES

Name

Bridges, Geoffrey W.

Hartman, Brian T.

Janus, Paul J

Libauskas, Jacob

Nicholl, Kim M.

Noonan, Mark J.

Strom, Matthew A.

Wohl, Stuart

TOTAL HOURSA/ALUE

Total:

ErN# t3-1975125

June 15, 2018

Rate

4ô0.00

350.00

430.00

380.00

680.00

560.00

550.00

610.00

Hours

9.70

17.60

8.00

60.30

36.00

4.40

13.40

3.10

152.50

Value

4,462.00

6,160.00

3,440.00

22,914.00

24,480.00

2,464.00

7,370.00

1,891.00

73,1 81 .00

$73,181.00

Case:17-03283-LTS Doc#:3537-8 Filed:07/16/18 Entered:07/16/18 15:58:50 Desc:

Exhibit H Page 35 of 35