Description
The Commonwealth of Kentucky’s Legislative Research Commission (LRC) is issuing an RFI to obtain proposals from qualified actuarial consulting firms to conduct a Level 1 full‑scope actuarial audit of Kentucky’s state‑administered retirement systems (KPPA, TRS, JFRS). The audit must replicate and analyze the FY 2026 actuarial valuations, experience studies, assumptions, and contribution recommendations for pension, health, and life‑insurance components across multiple public pension plans. Deliverables include a draft report by 30 April 2027, a final report by 31 May 2027, and a presentation to the Public Pension Oversight Board by 31 July 2027. The contract will be a fixed‑fee, prorated among the three systems, and must include at least one on‑site presentation in Frankfort.
• Scope: Full‑scope audit of actuarial calculations, assumptions, methods, and data for five public pension systems.
• Required personnel: Primary actuary (≥10 years experience) and at least one secondary actuary (≥5 years).
• Minimum qualifications: Professional actuarial consulting firm, appropriate licenses, liability insurance, no conflict of interest, ability to testify before legislative bodies.
• Submission: Written response by 31 Oct 2026 2:00 PM EST via email to Regina Long.
• Evaluation criteria: Firm background, relevant experience, methodology, conflict‑of‑interest disclosures, and cost proposal.
• Timeline: RFI released 02 Oct 2026 → Questions due 12 Oct 2026 → Responses due 31 Oct 2026 → Draft report 30 Apr 2027 → Final report 31 May 2027 → Presentation ≤ 31 Jul 2027.