City of Phoenix Employees Retirement System issued an RFP for an auditor to conduct a second actuarial valuation and provide reasonable alternatives to actuarial assumptions and improve the quality and understanding of valuation reports. Greg Fitchet, investment manager, said the $1.9 billion system will conduct the audits regularly and the system has no problem with performance of main actuary Rodwan Consulting. Rodwan signed a three-year contract July 1. The plan was 83.9% funded as of June 30, up from 81.3% the previous year.
The RFP is available at www.ci.phoenix.az.us/phxcopers.html. Responses are due by 4 p.m. PDT March 24. A selection is expected to be made April 24.