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UNCT-14337 - USA (Bay City, Michigan) - Actuarial Services - Deadline October 25,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: UNCT-14337

Government Authority located in Bay City, Michigan; USA based organization looking for expert vendor for actuarial services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide actuarial services on an as needed basis to the government authority located in Bay City, MI.
- Conduct annual actuarial valuations and reviews of BCERS beginning with FY ending 12/31/2019 and provide written reports which comply with all legal requirements under Michigan law as well as federal and state accounting requirements,
- Conduct annual actuarial valuations and reviews of voluntary employee’s beneficiary association beginning with FY ending 12/31/2019 and provide written reports which comply with all legal requirements under state law as well as federal and state accounting requirements,
- Prepare an actuarial report containing a glossary of terms and sufficient explanatory text to permit a reasonable understanding by the boards, administration, and retirement system and VEBA members of the actuarial assumptions, cost methods and conclusion. this shall include, but is not limited to, a summary of the plan, description of actuarial assumptions and cost methods, display of age groups and service metrics for active members and display of retired lives by age groups and types of benefits,
- Determine position of the plans including the actuarial value of assets and rates of return on investments using both market and actuarial value basis,
- Calculate the normal annual cost and the annual required contribution for the plan year,
- Calculate the pension benefit obligation and compare to prior year amounts,
- Provide additional day-to-day services relating to plan administration. this shall include, but is not limited to, benefit estimates, benefit final calculations, eligible domestic relations order review and certification, annual employee benefit statements etc.,
- Provide additional consulting time arising from new legislation, current topics, or plan related issues steaming from the actuarial valuation of assets,
- Assist with actuarial or member record keeping services, including administrative and technical services and support.
(2) All question must be submitted no later than October 11,2019.

[C] Eligibility:

Onshore (USA Only)

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Friday, 25 October, 2019

Question Answer Deadline : Friday, 11 October, 2019

Category : Uncategorized

Country : USA

State : Michigan

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