Specifications include, but are not limited to: Actuarial services
related to the City of Seaford, Delaware Pension Plan for General Employees and
Postretirement Welfare Plan. A. Pension Plan for General Employees
1. An annual actuarial valuation report for purposes of determining required
contributions from the City.
2. An annual actuarial valuation report for accounting purposes in compliance with
Governmental Accounting Standards Board Statement No. 67 and 68.
3. Calculation of annual benefit statements to be distributed to participants.
4. Calculation of benefits payable from the Plan for individual participants.
5. Meeting with City staff to review valuation report results and present to City
6. Responding to auditor questions.
7. Keeping City apprised of any changes in local or federal regulations applicable to
B. Postretirement Welfare Plan
1. An annual actuarial valuation report for accounting purposes in compliance with
Governmental Accounting Standards Board Statement No. 75.
2. Responding to auditor questions.
C. Valuation Reports
1. Valuation reports should be prepared annually using data supplied as of July 1st
and delivered to the City by October 1st.
2. The annual benefit statements should be provided to the City by September
1st each year.