Specifications include, but are not limited to: The ND Teachers' Fund for Retirement - ND Retirement and Investment Office - is soliciting proposals for Actuarial and Consulting Services for the ND Teachers' Fund for Retirement pension plan. The North Dakota Teachers’ Fund for Retirement (TFFR) is a qualified governmental defined benefit pension plan covering North Dakota public school teachers and administrators and certain other teachers who meet statutory membership requirements. TFFR provides retirement, disability, and survivor benefits under North Dakota Century Code (NDCC) Chapter 15-39.1. RIO, on behalf of TFFR, is soliciting proposals for an actuarial consulting firm with experience in public pension plans to provide actuarial and consulting services for the TFFR pension plan. The actuary will be required to prepare an annual pension valuation report for TFFR each fiscal year on a fixed fee basis. TFFR operates on a July 1 through June 30 fiscal year basis. At minimum, the actuarial valuation report must address or include, but is not limited to, the following items: Applicable provisions of North Dakota Century Code (NDCC) and North Dakota Administrative Code (NDAC). Effects of state legislation since the last valuation (if any). Characteristics of covered active members, inactive non-retired participants, pensioners, and beneficiaries. System assets. Economic and demographic actuarial assumptions regarding future investment earnings and employee salary increases, termination, retirement, disability, death, etc. as established by TFFR Board.
