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Request for Proposal (RFP) Actuarial Consulting Services
SamCERA is soliciting proposals from qualified and experienced actuarial firms to serve as an independent actuary to perform services described in detail in the RFP document.

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Overview

SamCERA is soliciting proposals from qualified and experienced actuarial firms to serve as an independent actuary to perform services described in detail in the RFP document. Services will include (but are not limited to):

  • An annual Actuarial Valuation and review of the Retirement Fund (commencing with the actuarial valuation for the year ending June 30, 2019);
     
  • An annual Disclosure Report pursuant to Governmental Accounting Standards Board (GASB) Statement No. 67 and GASB Statement No. 68 (commencing with the actuarial valuation for the year ending June 30, 2019);
     
  • A Triennial Experience Study (for the year ending June 30, 2020).

Firms wishing to submit a proposal must meet the following minimum experience requirements:

  • The firm must be a professional actuarial services firm whose primary line of business includes providing actuarial valuation, experience investigations and analysis, actuarial audits, and pension consulting services to public pension plans, or similar entities of substantial size.  At a minimum, the firm must have performed actuarial services for defined benefit pension plans with assets that exceeded two billion dollars ($2,000,000,000.)
  • All of the firm’s actuaries performing the work must meet the professional qualification standards of the American Academy of Actuaries.
  • The Primary Actuary (lead) and any supporting actuary performing the work must be an Enrolled Actuary, a member of the American Academy of Actuaries Qualification Standards, and an Associate of the Society of Actuaries.
  • The Primary Actuary performing the services must have a minimum of ten years of experience as an actuary providing pension and consulting services experience analysis, valuation assignments and actuarial audit assignments for multi-employer retirement plans, GASB 67/68 disclosures, and other actuarial consulting services for public-sector defined benefit retirement plans.  In addition, the Primary Actuary must have experience with defined benefit pension plans falling under the County Employees Retirement Law of 1937 (CERL) and the California Public Employees’ Pension Reform Act (PEPRA).
  • The firm must have all necessary permits and licenses.
  • The firm must provide its own work facilities, equipment, supplies and support staff to perform the required services.

Schedule of Events

Schedule of Proposal Submission Events is set forth in the chart below and may be subject to change:

EVENT

DATE

Release of RFP

August 30, 2018

Deadline for Written Questions

September 21, 2018

Release Responses to Written Questions

September 27, 2018

Proposal Due Date and Time

October 22, 2018 by 12:00 p.m.

For a copy of the RFP document, which contains details regarding the requested services, instructions for submitting questions, and proposal submission requirements, send your request to gsmith@samcera.org.

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