Oregon Public Employees Retirement System

Buyer is seeking qualified actuarial consulting services for its public employee retirement system. The services include actuarial valuations, experience studies, and financial modeling for the Tier One/Tier Two pension programs, OPSRP pension program, and PERS Health Insurance Program. Buyer requires expertise in assessing system liabilities, recommending actuarial methods and assumptions, and determining appropriate employer contribution rates. The contract will be for an initial term of four years with options to renew for up to ten years total.

• 6/24/2025 - Questions Due
• 7/1/2025 - Answers Issued
• 7/24/2025 - Proposal Due Date
• 8/18/2025 - Presentations/Interviews
• 8/29/2025 - Best and Final Offer Due
• 9/5/2025 - Notice of Intent to Award
• 10/31/2025 - Contract Execution

• Four public pension clients with assets of at least $10 billion
• Ten years experience providing services for large public pension clients
• Extensive experience evaluating financial condition of public defined benefit plans
• Principal actuary must be Fellow of Society of Actuaries
• Principal actuary must have ten years experience with 50,000+ member systems

• Conduct actuarial valuations of pension systems annually
• Perform experience studies for economic and non-economic assumptions
• Analyze legislative initiatives and their financial impacts
• Develop actuarial equivalency factors for benefit calculations
• Provide financial modeling of future system benefits and costs
• Calculate variable annuity values and IRC §415 factors
• Prepare GASB 67/68 and 74/75 compliance reports
• Attend board meetings and provide ongoing actuarial consultation
• Evaluate employer unfunded actuarial liability for lump-sum payments
• Assess administrative operations against industry best practices