(1) Vendor needs to provide actuarial consulting services for Other Post–Employment Benefits to the government authority located in East Greenwich, RI. – The Town of East Greenwich, Rhode Island requires an actuarial valuation of its other post–employment benefits by a qualified consultant for the annual valuation dates of July 1, 2023 through July 1, 2025.– The study should prepare actuarial valuations following GASB 74/75 standards for the 2024 year–end financial statements. Include the following information:• Actuarial value of benefits, separately identifying amounts for active employees and retirees, including:– Present Value of Future Benefits.– Actuarial Accrued Liability.• Net OPEB Liability; and Normal Cost GASB 75 accounting information required for financial report footnote, including:– Actuarially Determined Contribution as a dollar amount and percentage of payroll.– Annual Financial Statement Expense.• GASB Requirements:– The actuarial valuation needs to comply with any technical bulletins or guidance issued by GASB to ensure this actuarial valuation provides the data needed to meet GASB 74/75 financial reporting requirements.– Determine the implicit rate subsidy, if any, and the impact it would have on the OPEB liability.– The consultant shall provide a breakdown of liability for active employees and retirees.(2) All the questions must be submitted no later than April 23, 2024. (3) The contract period will be for three years.
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