Description
The U.S. Railroad Retirement Board (RRB) is seeking a contractor to provide actuarial audit services to assist the RRB's Office of Inspector General (OIG) with its annual actuarial audit of the RRB's financial statements. The contractor will perform a limited scope actuarial audit of the RRB's statement of social insurance and statement of changes in social insurance amounts for a two-year period. The contractor will also provide an annual work plan, activity checklist, and progress reports. The contract will have a base period and four optional periods, each with a duration of 12 months. The contractor must have experience in performing actuarial audits of multi-employer plans with plan assets exceeding $1 billion.
Some key points to consider:
* The RRB's primary function is to administer comprehensive retirement, survivor, unemployment, and sickness insurance benefit programs for railroad workers and their families.
* The OIG conducts independent audits, management reviews, and investigations of the RRB's programs and operations.
* The contractor will provide all services, personnel, facilities, equipment, and materials necessary to perform the work described in the statement of work.
* The contractor must agree to let the OIG conduct an annual on-site quality review and prepare and provide documents based on an agreed-upon deliverable schedule.
* The contractor must have experience in performing actuarial audits of multi-employer plans with plan assets exceeding $1 billion.
* The contractor must demonstrate an understanding of the subject matter of the audit and adhere to Actuarial Standards of Practice.
* The contractor must provide a quality control plan, staffing plan, and organizational chart.
* The contractor must have a system for deficiency detection, implementation of corrective measures, and escalation procedures.
* The contractor must demonstrate experience in performing actuarial audits of multi-employer plans with plan assets exceeding $1 billion.