Actuarial Audit - KY State-Administered Retirement System

The Kentucky Legislative Research Commission, on behalf of the Public Pension Oversight Board, is seeking qualified actuarial consulting firms to perform a Level 1 full‑scope actuarial audit of the Commonwealth’s state‑administered retirement systems (KERS, SPRS, CERS, TRS, JFRS). The audit will replicate and analyze the FY 2026 valuations, experience studies, assumptions, and contribution recommendations for pension, retiree health, and life‑insurance components across five systems. Deliverables include a draft report by 30 April 2027, a final report by 31 May 2027, and a presentation to the board no later than 31 July 2027. Proposals must be submitted electronically by 2 PM EST on 31 Oct 2026, with questions due 12 Oct 2026. The contract will be a fixed‑fee arrangement, prorated among the three administrative entities, and will require at least one on‑site presentation in Frankfort. • Scope: Full‑scope actuarial audit of FY 2026 valuations for five state‑administered retirement systems. • Required expertise: Primary actuary ≥10 years experience (public pension audits of >$10 B assets preferred); secondary actuary ≥5 years. • Deliverables: Data collection, analysis, draft report (30 Apr 2027), final report (31 May 2027), presentation (by 31 Jul 2027). • Submission deadline: 31 Oct 2026, 2 PM EST (electronic). • Contact: Regina Long, LRC (502‑564‑8100, [email protected]). • Contract type: Fixed‑fee, includes travel for one presentation in Frankfort.