Actuarial Audit of the June 30, 2024 TCRS Actuarial Valuation

The State of Tennessee, Treasury Department, is seeking a contractor to perform a Level One actuarial audit of the Tennessee Consolidated Retirement System (TCRS) limited to the State/higher education employees’ and K-12 teachers’ legacy and hybrid pension plans. The audit will validate the June 30, 2024, actuarial results, including the contribution rate, system assets and liabilities, and the system’s funding status for the Teacher and General State Employee classifications in both the hybrid and legacy plans. The audit will also review major economic assumptions for reasonableness and consistency. • The contractor will be required to provide a detailed report of the audit findings and recommendations. • The contractor will be required to have experience in performing actuarial audits of public pension plans. • The contractor will be required to have a strong understanding of the TCRS system and its components. • The contractor will be required to have excellent communication and project management skills. • The contractor will be required to provide a cost proposal that includes all costs associated with the audit.