1. Provide determination that the CIS Benefits Trusts comply with the reserve adequacy provisions contained in ORS 30.282(6)(d) or 731.036(6)(e) via a written actuarial report. 2. Provide consultation as to the appropriate reserving levels in the event the appropriate level is different from those required by state regulations. 3. Provide an Incurred but not Reported (IBNR) calculation for all self-funded plans, which include medical, dental, vision, and pharmacy. IBNR should be as of the end of fiscal year, June 30th, for each year under contract. a) All calculations and reports must be completed for each of the two trusts and then combined into one calculation for CIS Benefits. b) The selected firm should anticipate that at least two presentations or meetings will be required with the CIS team to go over the actuarial report. In addition, the actuary should anticipate a presentation to the Board of Trustees at their retreatin December of each year. c) Work must be completed no later than August 1st of each year. 4. Develop and assist in the annual calculation of rates for CIS health plans across multiple product offerings (medical, dental, vision, etc.). Each of the two trusts are rated separately. Rates are on a calendar year basis. So, Calendar Year 2027 rates would be the first renewal led by the new consultant.
