Orange County Employees Retirement System, Santa Ana, Calif., issued an RFP for an actuarial firm to perform a one-time audit of the $8.8 billion retirement system's current consulting actuary, The Segal Co.
The audit will determine the reasonableness and accuracy of the Dec. 31, 2010, valuation performed by Segal, including actuarial cost methods, valuation results and contribution rates.
The system audits its consulting actuary every five years. Segal Co. will continue to serve as consulting actuary, David James, director of internal audit, said in a telephone interview.
The RFP is available on the fund's website.
Proposals are due March 30. The system's audit committee will have to approve a hire before it goes before the entire board, Mr. James said.