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Actuarial and Consulting Services for City of Norfolk Employees' Retirement System
11/13/2024
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Norfolk, VA
City of Norfolk
The buyer seeks actuarial and consulting services for its Employees' Retirement System. Services include preparing annual actuarial valuations, GASB reports, and experience studies. The consultant will provide advice on benefit changes, plan administration, and pension legislation. They will attend Board meetings, coordinate with auditors, and assist with asset-liability studies. The contract term is for 10 years.
- 10/15/2024 - RFP Issued
- 10/25/2024 - Question Deadline
- 11/13/2024 - Proposal Due Date
Refer to RFP
- Prepare annual Actuarial Valuation Reports
- Prepare annual GASB 74/75 Report for OPEB Plan
- Conduct Experience Study every five years
- Provide consulting services on pension benefits legislation
- Attend Board of Trustees meetings to present reports
- Provide advice on benefit changes and plan administration
- Coordinate with auditors and investment consultants
- Prepare notices and plan amendments as necessary
- Provide peer group comparisons of actuarial assumptions
- Assist with asset-liability studies