RFP for Professional Actuarial Services

Specifications include, but are not limited to: The City has two pension plans – City Employees’ Pension Plan and Police Employees’ Pension Plan.The Governmental Accounting Standards Board requires a valuation be performed at least every two years for financial reporting. Annual disclosure reports are needed to reflect the discount rate,contributions, payroll, and funding levels as of the measurement period. These annual disclosure reports will be needed to comply with the requirements, under GASB 68, for fiscal year-end reporting in the City’s notes to financial statements. Further, an experience study is required every five years to analyze the demographic and economic experience of the pension plans. The scope ofservices shall include but are not limited to:Annual GASB 68 pension reporting and disclosures for years ended December 31stAnnual funding report for pension plansParticipant ListingsEngagement with auditor and completing auditor requests for both the plan and financialstatementsAttendance at one client meeting to present valuation results, analysis, and updates on pension legislation, trends, and current industry developmentsBenefit calculations upon request