When is the submission deadline?

This RFP closed on April 8, 2026 and is no longer accepting submissions.

What is the budget for this RFP?

Settle estimates the budget at $75,000 – $250,000. The issuer has not published an official figure.

It was issued by Livingston County Procurement. The work is located in Howell, Michigan, United States.

Who is a good fit for this opportunity?

Experienced actuarial consulting firm with expertise in pension audits. Proven track record of working with government authorities. Solid familiarity with applicable actuarial standards and financial reporting requirements. Ability to provide transparent evaluations for public sector clients.

Pension Actuarial Audit and Actuarial Report Service (Closed)

Seeking a firm to provide pension actuarial audit and reporting services, with responsibilities including valuation validation and compliance assessment.

Submit a complete proposal electronically by April 8th, 2026, 2:00 PM EST
Submit pricing proposal (Attachment A) in a separate file
Firm must be independent and have no conflicts of interest with the County's current Retirement Plan actuary
Key personnel must be credentialed actuaries (ASA, FSA, MAAA)
Demonstrate experience performing actuarial audits for public-sector pension plans, preferably Michigan counties or similar governmental entities
Familiarity with Michigan public pension requirements and GASB standards
Certify compliance with Public Act 517 of 2012 regarding Iran Linked Businesses
Provide a current W-9
Provide evidence of insurance coverage as outlined in Section 4.3
Agree to a one-year contract term
Be in good standing in Michigan with all necessary licenses, permits, certifications, approvals, and authorizations
Hold Livingston County harmless from patent infringement liability
Meet minimum insurance requirements prior to award
All communications must be in writing via email to the designated Procurement Coordinator
Proposals must be signed by an authorized official and remain valid for at least 90 days
The firm must be a Prime Contractor, not a subcontractor
Acknowledge receipt and acceptance of all addenda
Perform a pension actuarial audit of the County's defined benefit pension plan(s)
Prepare an actuarial report of findings and results
Evaluate actuarial assumptions, methods, calculations, and compliance with GASB requirements
Review the most recent actuarial valuation(s) prepared for the County's pension plan(s)
Verify the completeness and accuracy of census data used in the valuation
Evaluate data integrity, including participant demographics, service history, compensation, and benefit provisions
Assess the reasonableness and appropriateness of actuarial assumptions, including discount rate, investment rate of return, inflation assumptions, salary increase assumptions, mortality tables, termination/retirement/disability rates, and cost-of-living adjustment (COLA) assumptions
Provide commentary on consistency with plan experience studies, industry best practices, and applicable GASB guidance
Evaluate actuarial cost methods used (e.g., Entry Age Normal)
Review asset valuation methods and smoothing techniques
Assess amortization methods and periods for unfunded liabilities
Evaluate consistency of methods across valuation periods
Review compliance with applicable GASB standards, including Statement No. 67, 68, 73, 75 (if applicable), and any subsequent pronouncements
Verify calculation of Total Pension Liability (TPL), Fiduciary Net Position (FNP), and Net Pension Liability (NPL)
Review sensitivity analyses for changes in discount rate
Validate deferred inflows and outflows of resources
Confirm accuracy of required GASB schedules and note disclosures
Assess consistency between actuarial valuations and audited financial statements
Participate in an entrance meeting with County staff
Provide periodic status updates, as requested
Present findings to County administration and/or the County Board or County committees, if requested
Respond to questions from the County's external auditors related to the actuarial audit

$75,000 – $250,000

Release of RFP: March 11th, 2026

Due Date for Receipt of Questions: March 18th, 2026

Questions and Answers Posted: March 20th, 2026

Proposals Due: April 8th, 2026 by 2:00 p.m. local time

Primary procurement contact — name, title, email, and phone

Additional decision-makers and their departments

The government authority in Howell, Michigan is seeking a qualified vendor to provide pension actuarial audit and actuarial report services. The scope of work includes conducting actuarial valuations, ensuring compliance with financial reporting requirements, and reporting to County administration, elected officials, and external auditors.

The selected firm will be responsible for validating the accuracy and reasonableness of all actuarial valuations and assessing compliance with relevant actuarial standards. Additionally, the firm must evaluate current actuarial assumptions and methodologies and offer transparency and confidence to stakeholders throughout the process.

Pension Actuarial Audit and Actuarial Report Service

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