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Actuary and Co-Sourced Pension Administration Service


Location
Pennsylvania
Publication Date
08/22/2019 08:13 AM EDT
Closing Date
09/16/2019 01:00 PM EDT
Issuing Organization
County of Berks
Solicitation Number
Description

Specifications include, but are not limited to: 4.4.1 Actuary Services 4.4.1.1 Prepare actuarial valuation of the Berks County Employees’ Retirement Fund as required by the County Pension Law [16P.S. §11651 et. Seq.] with separate valuation for disclosure of information in accordance with the Governmental Accounting Standards Board (GASB) on an annual basis. 4.4.1.1.1 The RP2013 mortality tables shall be utilized for the actuarial evaluation. 4.4.1.2 Provide a 5 year forecast annually with and without prefunding as of each years actuarial valuation date. 4.4.1.3 Provide annually the funding requirements for cost-of-living increases for pensioners. 4.4.1.4 Appear before the County Retirement Board as requested, to discuss issues and policies. The Vendor is required to appear at minimum once per year. 4.4.1.5 Issue periodic bulletins regarding changes in the County Pension Law and any applicable State and Federal legislation, as the changes are enacted. 4.4.1.6 Issue quarterly bulletins for information and administrative guidance related to actuary services and benefits which shall include but not be limited to implications of mortality changes and retirement trends. 4.4.1.12 Actuary Reports 4.4.1.12.1 Provide a copy of the Actuarial Valuation Report and the GASB disclosure report to each member of the Retirement Board 4.4.1.12.2 Calculate and issue a separate actuarial valuation report of the annual required pension cost “as if” the County had not prefunded the pension plan, pursuant to the requirements of Federal Super Circular inclusive of Circular A-87 for cost reimbursement on or before the last Friday in April 4.4.1.12.3 Calculate and issue a separate report of the annual accounting information required by GASB statements 67 and 68.

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