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Pension Plan Actuarial Services
10/28/2024
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Chicago, Illinois
Regional Transportation Authority
The buyer is seeking actuarial consulting services for its Pension Plan. The selected firm will provide actuarial reports, certifications, and valuations required for the Plan. Services include annual funding and GASB reports, benefit calculations, and general consulting on Plan changes and regulations. The contract term is for five years with two one-year options.
- 10/10/2024 - Pre-Proposal Conference
- 10/16/2024 - Questions Due
- 10/28/2024 - Proposal Due Date
- Firm must be in business of providing actuarial valuations and pension consulting for 5+ years
- Principal actuary must have 5+ years professional actuarial experience
- Principal actuary must be an Enrolled Actuary and member of American Academy of Actuaries
- Provide annual actuarial reports including funding and GASB 67/68 reports
- Present actuarial reports orally and in writing to Trustees
- Provide annual active participant benefit statements and record cards
- Keep Committee informed about changes in laws affecting the Plan
- Supply actuarial factors and discuss benefit options
- Calculate Purchase of Service Credit estimates
- Assist in evaluating proposed changes affecting Plan's actuarial value
- Answer questions regarding trends in public retirement system benefit design