Bay County Finance Department

Buyer seeks a full-service actuarial consultant for a five-year contract to provide services for the Bay County Employees' Retirement System (BCERS) and VEBA Trust. Buyer oversees a defined benefits pension plan with $432 million in assets serving approximately 2,300 participants. Buyer requires annual actuarial valuations, plan administration services, benefit calculations, and regulatory compliance reporting.

• 4/21/2025 - Deadline for Vendor Questions
• 4/28/2025 - Responses Due from County
• 5/5/2025 - Proposal Due Date

• Conduct annual actuarial valuations for BCERS pension plan
• Conduct annual actuarial valuations for VEBA healthcare plan
• Prepare final calculations of retirement benefits upon request
• Perform EDRO review and certification
• Create annual employee benefit statements
• Develop and revise mortality tables and benefit factors
• Conduct five-year experience study to update actuarial assumptions
• Prepare GASB 68 and 75 reports for accounting purposes
• Provide software tools for benefit estimates and member databases
• Attend board meetings to present actuarial findings