Description
The City of Minot is seeking a qualified vendor to provide actuary services for its pension and other post-employment benefits (OPEB) plans. The selected vendor will be responsible for providing annual actuarial valuations, experience studies, and other related services. The contract is expected to be for a two-year term with three one-year renewal options. The vendor will need to provide all information necessary for the City to maintain compliance with Governmental Accounting Standards Board (GASB) Statement Numbers 67, 68, 74, and 75.
Some key responsibilities of the vendor include:
• Annual GASB 67/68 pension reporting and disclosures
• Annual GASB 74/75 OPEB reporting
• Experience study completed every five years
• Engagement with contracted auditor and completing auditor requests
• Attendance at one client meeting annually to present valuation results and updates on pension legislation and industry developments
• Benefit calculations upon request