Specifications include, but are not limited to: The Successful Respondent shall prepare, on behalf of the Comptroller and the Board, annual valuations and reports analyzing the actuarial soundness of the TGTP and the TTPF for each fiscal year ending August 31 during the term of the Contract, or at other times as the Board may deem appropriate based on events that might have a material impact on the valuation between fiscal year ends, including such things as significant changes in projected income or tuition rates, legislative changes or transfers. The actuary shall determine any surplus or unfunded liability on at least an annual basis. The annual reports must be submitted no later than November 1, to meet State of Texas annual financial reporting deadlines. This submission date is subject to change if State of Texas reporting deadlines change.
