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Actuarial Services
4/22/2025
-
Attleboro, MA
Attleboro Contributory Retirement System
Buyer seeks qualified professional actuarial firms to provide complete actuarial studies and perform actuarial services as of January 1, 2025. Buyer manages approximately $213 million in assets with 739 active participants and 509 retired members. Services must comply with PERAC requirements, Massachusetts General Law Chapter 32, and Code of Massachusetts Regulations 840 section 16.08. The term of contract shall not exceed seven years.
- 4/15/2025 - Questions Due
- 4/22/2025 - Proposal Due Date
- Strong knowledge of MGL chapter 32 and PERAC Regulations
- Performed five actuarial studies for Massachusetts governmental entities
- Maintain liability coverage applicable to actions under RFP
- Not been in bankruptcy/receivership within last three years
- Meet all applicable state/federal requirements with necessary licenses
- Prepare actuarial valuation on a two-year schedule
- Establish reasonable actuarial assumptions
- Analyze membership data for evaluation
- Determine funded position with costs separated by department
- Review and assess existing funding schedule
- Determine potential options to the funding program
- Prepare GASB disclosure information for financial statements
- Prepare written actuarial report with recommended funding schedule
- Discuss funding schedule with PERAC
- Prepare supplemental report with alternative assumptions