Actuarial Services

2026-11-03

6 . 1 Provide City with professional services and dedicated personnel to perform the following :  Prepare a fully comprehensive biennial actuarial valuation for the City ’ s OPEB plan as at June 30 , 2025 , in accordance with GASB 75 .  Determine Actuarially Determined Contribution ( ADCs ) levels for prefunding plan benefits .  Prepare the necessary information required by GASB 75 to be reported in the City ’ s Annual Comprehensive Financial Report for fiscal year 2025 - 26 .  Prepare a rollover report , based on initial valuation and updated data provided by City ( retiree benefit payments , trust contributions / reimbursements , covered payroll for the fiscal year ), containing necessary information required by GASB 75 to be reported in City ’ s Annual Comprehensive Financial Report for fiscal year 2026 - 27 .  Provide information to be submitted to the California Employers ’ Retiree Benefit Trust ( CERBT ) to satisfy filing requirements for the trust .  Provide a fully comprehensive actuarial valuation for the City ’ s Longevity plan as at June 30 , 2025 .  Develop Actuarially Determined Contributions ( ADCs ) for fiscal year 2026 - 27 and 2027 - 28 .  Provide accounting information required by GASB 68 to be reported in the City ’ s Annual Comprehensive Financial Report for fiscal year 2025 - 26 .  Prepare a rollover report , based on initial valuation and updated data provided by City ( retiree benefit payments , trust contributions / reimbursements , covered payroll for the fiscal year ), containing necessary information required by GASB 68 to be reported in City ’ s Annual Comprehensive Financial Report for fiscal year 2026 - 27 .  Discuss administrative draft of the report with city personnel if required .  Present final report at regularly scheduled City Council meeting if required . 6 . 2 Project Approach :  Conduct initial discussions with the city , as needed , to develop an in - depth understanding of its post - retirement health care plan in order to learn about data availability , management information system capabilities and to discuss specific issues the city would like addressed during the review .  Submit written data requests to the city by email .  Gather and compile data provided by the city and review for reasonableness . Anomalies ( if any ) would be identified and clarified as appropriate .  Perform a comprehensive actuarial study of the plans , compliant with GASB 68 , GASB 74 and GASB 75 and other applicable actuarial and accounting standards based upon the city ’ s own data .  For both plans , provide valuation report for year one and rollover report for year two .

California

2026-03-27