Legislative Audit Bureau Actuarial Audit Services 2024-02

This Request for Proposal (RFP) includes actuarial audit services for the following components related to the financial audit responsibilities of the Audit Bureau:

1. State Retiree Health Insurance Program - an independent assessment of the consulting actuary’s (Segal Consulting’s) actuarial valuation as of January 1, 2023 (valuation date), and the roll-forward of these calculations to June 30, 2024 (measurement date), to meet employer reporting and disclosure requirements under GASB Statement 75;
   

2. Retiree Life Insurance Program - an independent assessment of the consulting actuary’s (Milliman’s) actuarial valuation as of January 1, 2024 (valuation date), and the roll-forward of these calculations to December 31, 2024 (measurement date), for both the State Retiree Life Insurance and Local Retiree Life Insurance, to meet plan and employer reporting and disclosure requirements under GASB Statements 74 and 75; and
   

3. Supplemental Health Insurance Conversion Credit Program - an independent assessment of the consulting actuary's (GRS’s) actuarial valuation as of December 31, 2024 (valuation date and measurement date), to meet plan and employer reporting and disclosure requirements under GASB Statements 74 and 75.