GASB 75 OPEB Actuarial Valuation Services
City of Fitchburg
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Description
The City of Fitchburg is seeking professional actuarial services for a comprehensive valuation of its Other Postemployment Benefits (OPEB) under Governmental Accounting Standards Board Statement No. 75 for the 2024–2025 measurement period. The selected firm will review plan and participant information; establish and document actuarial assumptions and methods; calculate OPEB liabilities, present value of future benefits, and other required measurements; perform sensitivity and scenario analysis; and identify changes in assumptions, plan provisions, or participant data. The engagement also includes a written valuation report with financial reporting schedules and supporting information, coordination with the City's independent auditors, and presentation or discussion of results if requested. Proposals must demonstrate relevant GASB 75 experience, governmental-entity experience, qualified actuarial personnel, at least three comparable references, and the ability to complete the final report before March 15, 2027. The City's maximum budget is $5,000.
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Requirements
- Professional liability/errors and omissions
- Minimum 3 references
- Client point of contact required for each reference
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