Actuarial Service Contract for KRGF

The Kentucky Office of the Reclamation Guaranty Fund Commission, of the Energy and Environment Cabinet (EEC), is requesting actuarial services to determine the actuarial soundness, as defined in KRS 350.500(1), of the Kentucky Reclamation Guaranty Fund (KRGF). This request is in accordance with the mandate of KRS 350.509(4). This study will assist the Commission in determining the solvency and sustainability of the KRGF. The actuary will be tasked with making professional determinations and provide written recommendations to the KRGF Commission concerning the risk, viability, impact and maintenance of the KRGF. Specifically, the actuary will perform the following functions: perform statistical calculation of risk; evaluate the Fund structure, funding schemes and financial soundness of the Fund; evaluate and analyze data provided by the Kentucky, Department for Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF), Office of the Reclamation Guaranty Fund (ORGF) and/or data acquired by the actuary in order to summarize Fund activity and make recommendations on the best operation of the KRGF. The actuary also will provide analysis on mechanisms in place to provide adequate financial oversight to the Fund.