Addendum 1 - OPEB Actuarial Services

CERTIFICATE OF ACKNOWLEDGMENT OF RECEIPT OF ADDENDUM

 

THE CITY OF READING

 

ADDENDUM NO. 1RFP:                  RFP – Actuarial Services - OPEB
 
DUE DATE:     June 5, 2018
                          3:00 P.M. Prevailing Time

 

NOTICE

 

This addendum must be signed, attached to, and returned with your proposal to the City of Reading by the time and date indicated ABOVE:

 

Q1. What are the main reasons you are going out to bid at this time?

A1. The City goes out for RFP on all contracts every 3-5 years.

Q2. Are you having any issues with your current provider?

A2. Not at this time

Q3. What were the fees charged by the current provider?

A3. $50,000.00

Q4. Could you please provide a copy of the most recent actuarial valuation?

A4. See attached

Q5. Will you be providing a consolidated list of all questions asked about this RFP?

A5. Yes

Q6. Please confirm the valuation date of the most recent full actuarial valuation.

A6. December 31, 2016

Q7. Please confirm the valuation dates of all full actuarial valuations to be provided during the term of this contract.

 

A7. 12/31/18 and 12/31/20 with a possible 12/31/22

 

Q8. Please confirm the measurement dates of all of GASB 45/75 financial reporting disclosures to be provided during the term of this contract.

A8. As stated in the RFP.

 

Q9. For the 12/31/2020 GASB 75 disclosure, which actuarial valuation is the City considering to use as the basis for developing the 12/31/2020 Net OPEB Liability? It is our understanding that the valuation date cannot be more than 30 months prior to the GASB 75 measurement date.

 

A9. It is expected that the valuation with occur within an appropriate timeframe.

 

I, HEREBY CERTIFY THAT THE CHANGES COVERED BY THIS ADDENDUM HAVE BEEN TAKEN INTO ACCOUNT.

 

Firm Name (Type or Print)__________________________________________

 

Authorized Signature_______________________________________________

 

Title____________________________________________________________

 

Name (Type or Print)_______________________________________________

 

Date_____________________________________________________________