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OPEB Actuarial Valuation & Advisory Svcs


Location
Wisconsin
Publication Date
07/31/2019 01:35 PM EDT
Closing Date
09/03/2019 10:00 AM EDT
Issuing Organization
Milwaukee County Transit System
Solicitation Number
Description

Specifications include, but are not limited to: Valuation will be conducted in accordance with generally accepted actuarial principles and practices, including the applicable Actuarial Standards of Practice as issued by the Actuarial Standards Board. Services shall include the following: c. Postretirement Benefits Valuation report under GASB 74/75, including: 1. Net OPEB Liability 2. OPEB Expense for year 3. Deferred Inflows and Outflows 4. Historical changes in Net OPEV Liability 5. Annual contributions 6. Sensitivity of Net OPEB Liability 7. OPEB Expense Projection 8. Asset Projection 9. Necessary reporting and disclosure information for financial statements, governmental agencies, and other interest parties as required by SGAS 74 and SGAS 75 10. Summary of actuarial methods, assumptions and data used in the valuation 11. Recommendations to management for improvements to plan or associated reporting 12. Annual report presentation (in person meeting) 13. Response to standard plan auditor questions 14. Budgetary estimates for future years 15. Description of pertinent new law changes to Plan which will become effective within one year 16. Eight (8) hard copies of final report and final electronic versions d. Special Project consulting as requested Special Project services will be outside the scope of the actuarial reviews described above. Special projects may include detailed cost analysis of proposed Plan changes and other advice deemed necessary from the Board. The compensation to be paid to the actuary for such special projects will be based on the Actuary’s agreed upon hourly rates unless otherwise specified at the time of service and agreed to by both parties. The actuary will advise the OPEB Board of the project services performed and the hours spent on each project monthly.

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