Specifications include, but are not limited to: 1. Assist each university, to the extent possible, in evaluating their pension liability data/report as provided by KERS. Institutions seek to have a high level of comfort with data integrity and actuarial conclusions. 2. Advise on the financial and related impacts of The Act through analyses of impacts that employees and the individual Universities may face regarding the pension options presented through the passage of HB1. 3. Financial advisory services to determine the financial impact of each of the five (5) exit options provided in HB1: a. Remain in KERS unchanged; pay full ARC going forward; b. Hard freeze exit with lump-sum payment (4.5% discount rate); c. Hard freeze exit with installment payment (3.5% discount rate); d. Soft freeze exit with lump-sum payment (3.5% discount rate); e. Soft freeze exit with installment payment (3.0% discount rate).