Actuarial Services Consultant
This tender is from the country of USA in Americas region. The tender was published by State Employees Retirement System on 27 Aug 2025 for THIS SOLICITATION MUST BE VIEWED IN JAGGAER PROPOSAL SUBMITTALS WILL ONLY BE ACCEPTED ELECTRONICALLY THROUGH JAGGAER All Offerors are required to create a user profile within the Commonwealth s JAGGAER portal SERS is required by the State Employees Retirement Code 71 Pa C S 5101 et seq to have an actuary make an annual valuation of the State Employees Retirement Fund Fund consisting of both the Defined Benefit Plan and the Defined Contribution Plan within six months of the end of each calendar year However SERS practice is to expedite this process to occur within four months of the end of each calendar year SERS is also responsible for administering the Benefits Completion Plan BCP established as a Qualified Governmental Excess Benefit Arrangement in accordance with Internal Revenue Code IRC Section 415 m to provide benefits that would have otherwise been limited by IRC 415 b Enabling legislation for the BCP was enacted in December 2002 an IRC Private Letter Ruling was received in December 2003 and the first payments were made in July 2004 Although the Fund and the BCP are separate and distinct trusts SERS employers are assessed one overall contribution rate which is the combination of two rates The contractor will be required to make an annual valuation for the BCP within four months of the end of the calendar year The SERS actuary also assists in providing annual stress testing reports on behalf of SERS to the Independent Fiscal Office and provides actuarial cost notes for specific legislation as requested by the Independent Fiscal Office and legislative sponsors Every five years SERS is required to conduct an actuarial investigation and experience study of the Fund based on data including the mortality service and compensation experience during the preceding five years concerning members annuitants and beneficiaries The next experience study covered by this contract will be for the time-period January 1 2025 through December 31 2029 In addition to the above requirements SERS expects the Contractor to accomplish all other desired services as described which includes actuarial services and pension plan consulting services in such areas as strategic planning benefit calculations communications plan design and human resource issues. The last date to submit your bid for this tender was 02 Oct 2025. This tender is for the companies specializing in consultancy services and similar sectors.
*The deadline for this tender has passed.
Tender Organisation:
State Employees Retirement System
Tender Sector:
Tender Service:
Worldwide
Tender Region:
Tender Country:
Tender CPV:
79416202 : consultancy services
Tender Document Type:
Tender Notice
Tender Description:
THIS SOLICITATION MUST BE VIEWED IN JAGGAER PROPOSAL SUBMITTALS WILL ONLY BE ACCEPTED ELECTRONICALLY THROUGH JAGGAER All Offerors are required to create a user profile within the Commonwealth s JAGGAER portal SERS is required by the State Employees Retirement Code 71 Pa C S 5101 et seq to have an actuary make an annual valuation of the State Employees Retirement Fund Fund consisting of both the Defined Benefit Plan and the Defined Contribution Plan within six months of the end of each calendar year However SERS practice is to expedite this process to occur within four months of the end of each calendar year SERS is also responsible for administering the Benefits Completion Plan BCP established as a Qualified Governmental Excess Benefit Arrangement in accordance with Internal Revenue Code IRC Section 415 m to provide benefits that would have otherwise been limited by IRC 415 b Enabling legislation for the BCP was enacted in December 2002 an IRC Private Letter Ruling was received in December 2003 and the first payments were made in July 2004 Although the Fund and the BCP are separate and distinct trusts SERS employers are assessed one overall contribution rate which is the combination of two rates The contractor will be required to make an annual valuation for the BCP within four months of the end of the calendar year The SERS actuary also assists in providing annual stress testing reports on behalf of SERS to the Independent Fiscal Office and provides actuarial cost notes for specific legislation as requested by the Independent Fiscal Office and legislative sponsors Every five years SERS is required to conduct an actuarial investigation and experience study of the Fund based on data including the mortality service and compensation experience during the preceding five years concerning members annuitants and beneficiaries The next experience study covered by this contract will be for the time-period January 1 2025 through December 31 2029 In addition to the above requirements SERS expects the Contractor to accomplish all other desired services as described which includes actuarial services and pension plan consulting services in such areas as strategic planning benefit calculations communications plan design and human resource issues
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