Independent Auditor Services

The State Employees’ Retirement System (SERS) is seeking an independent auditor to provide auditing services for its financial records. The selected auditor will be responsible for conducting an annual independent audit of SERS' financial statements, including the Defined Benefit Plan, Defined Contribution Plan, and Deferred Compensation Plan. The audit will determine whether the financial statements are presented in conformity with US GAAP and that the system of internal controls is adequate to safeguard the assets of the fund. The selected auditor must have experience in auditing both public and private market investments and must have access to a qualified actuary to assist in evaluating the actuarial methods, assumptions, and results supporting pension liabilities reported under GASB Statement No. 68. • The contract term will be for five years with two optional one-year renewals. • The selected auditor must be a CPA firm licensed to do business in the Commonwealth of Pennsylvania and authorized to issue audit opinions. • The selected auditor must have experience in auditing governmental defined benefit pension plans and must have conducted audits and prepared statements for at least five governmental defined benefit pension plans. • The selected auditor must have a qualified actuary on staff or through a formal agreement with an actuarial consulting firm. • The selected auditor must demonstrate financial capability to assure good faith performance of the contract.