RFI-010-2700000010-2 | Actuarial Audit - KY State-Administered Retirement System

The Kentucky Legislative Research Commission, on behalf of the Public Pension Oversight Board, is seeking proposals from professional actuarial consulting firms to conduct a Level 1 full-scope independent actuarial audit of the state-administered retirement systems. This audit covers the fiscal year 2026 annual valuation and recent experience studies for pensions, health insurance, and life insurance across the KPPA, TRS, and JFRS systems. The scope of work requires the replication and analysis of calculations, assumptions, and methods used by plan actuaries to ensure mathematical accuracy and reasonable valuation of assets and liabilities in accordance with KRS 7A.250. Key deliverables include a draft report due by April 30, 2027, a final report by May 31, 2027, and a formal presentation of results to the PPOB by July 31, 2027. Qualified firms must provide a primary and secondary actuary, maintain full liability insurance, and adhere to strict confidentiality standards regarding member information and protected health information under Kentucky Revised Statutes. The selection process requires disclosure of any potential conflicts of interest, specifically any services provided to Kentucky state-administered retirement systems within the last ten years. Payment is processed through the Legislative Research Commission, with a provision that no more than 50 percent of negotiated fees be paid prior to the completion of specified work products. While some provided documentation references a separate request for wood and lumber supplies, the primary objective of this solicitation is the procurement of specialized actuarial audit services.