Kansas Public Employees Retirement System

Buyer is seeking actuarial consulting services for its death and disability program. Buyer needs a firm to conduct annual actuarial valuations, prepare GASB 75 reports for employers, provide guidance on technical issues, and assist with legislative analysis. The consultant will serve as a technical advisor to the Board of Trustees and must have expertise in public pension and death and disability programs. Buyer administers benefits for three pension groups serving Kansas public servants with over $28 billion in assets.

• 4/17/2025 - Distribution of RFP
• 5/6/2025 - Deadline for questions
• 6/10/2025 - Proposal Due Date
• 6/23/2025 - Finalist presentations
• 7/25/2025 - Award business
• 8/1/2025 - Contract effective date

• Professional actuarial consulting firm in business for at least 5 years
• Primary actuary must be Society of Actuaries Fellow and Enrolled Actuary
• Primary actuary must have 10 years public retirement system experience
• Have at least 3 current clients with 50,000+ members each
• Secondary actuaries must be Fellows or Enrolled Actuaries with 3+ years experience
• All actuaries must meet American Academy of Actuaries qualification standards
• Knowledge of Governmental Accounting Standards Board requirements

• Perform annual actuarial valuation of KPERS Death and Disability Program
• Prepare GASB valuation reports for approximately 400 participating employers
• Review performance of insured life insurance program annually
• Attend Board of Trustee meetings to present annual valuations
• Provide analysis of proposed legislation and benefit changes
• Calculate annual cash flows necessary to pay benefits
• Keep trustees informed of current actuarial trends and developments
• Provide technical advice on GASB Statement No. 75 implementation
• Discuss actuarial principles in layperson's terms for trustees
• Produce detailed reports with projected cashflows and recommendations