RFP-VS-17064 - Actuary Services

The City of Longmont is soliciting proposals for comprehensive pension actuarial services. The principal duty, function and responsibility of the actuary is to act in the capacity of pension actuary to the retirement boards for the purpose of administering the retirement plans. The actuary is expected to calculate plan liabilities, the value of plan assets, and the plans’ funded status at a point in time. The actuary should combine demographic and economic information about plan participants with benefit provisions and actuarial assumptions to calculate the amount of money that needs to be contributed to the plans to fund them over a reasonable period. Actuarial valuations should provide the information required for accounting and financial reporting purposes by the Governmental Accounting Standards Board (GASB).