Record Keeping and Actuarial Consulting Services - Technical ONLY

The Board of County Commissioners of Washington County, Maryland is requesting Qualifications and Experience/Technical Proposals and Price Proposals from Firms to provide Record-keeping and Actuarial Consulting Services for the Employees’ Retirement Plan, the Washington County Maryland Volunteer Length of Service Award Program, and Other Post-Employment Benefits under GASB-45. The selected firm will be responsible for maintaining independent service and salary histories, providing annual employee statements, and performing actuarial valuations. The firm will also be required to provide consulting services, including plan funding requirements, GASB disclosure requirements, and benefit calculations. • The Employees' Retirement Plan of Washington County has approximately 802 participating employees and 521 retirees and non-active members. • The Washington County Maryland Volunteer Length of Service Award Program has approximately 1,120 participants and 279 receiving benefits. • The Other Post-Employment Benefits plan provides post-retirement health care benefits to employees who retire from the County. • The County is seeking a firm with experience in providing record-keeping and actuarial consulting services to governmental employee groups. • The firm must have at least one enrolled actuary on staff and demonstrate a high understanding of contributory defined benefit plans. • The firm will be required to provide a comprehensive valuation report for each plan, including the Employee’s Retirement Plan, LOSAP, and OPEB. • The firm will also be required to provide an annual presentation to the County, including plan costs, actuarial assumptions, and investment returns.