Specifications include, but are not limited to: • Fund Management: o Budget forecasting and alignment; o Reporting of key performance indicators; o Recommendations related to fiscal sustainability; o Collaboration and reconciliation with internal stakeholders; o Transparency in brokerage, third party administrator (TPA) and vendor expense; • TPA and Vendor Management: o TPA and vendor RFP management; o Negotiation of competitive rates, fees and incentives; o Direct partnership in escalated issues regarding external partners; o Periodic reporting on utilization, return on investment and other key indicators for member programs and partnerships; • Program Promotion & Marketing: o Development of marketing, informational and other resources to provide education to new and existing members; o Partnership in member events including, but not limited to annual Health Fairs, Open Enrollment, etc.; o Collaboration with TPA and related vendors to ensure effective outcomes; • Actuarial Services: o Provide annual calculation of Governmental Accounting Standards Board (GASB) statement 74 and 75 liabilities and preparation of report used for Financial Disclosures. Assist the City with updating its OPEB prefunding policy through the development of Actuarial Determined Contributions (ADC).; o Periodically study the differences between assumed experience and actual experience.; o Providing other functions and specialized calculations needed to administer a plan such as asset/liability studies, asset allocation modeling, and cash-flow projections to measure the risks a plan is taking on and its likely long-term fiscal sustainability; • Best Practices o On-going advisement of related industry and regulatory best practices; o Direct partnership with internal teams to promote compliance, quality assurance, reporting and other administrative requirements
