Minnesota Public Employees Retirement Association, St. Paul, is searching for an actuarial firm to provide actuarial consulting and advisory services, including plan valuation, reporting and other standard services.
Mercer Human Resources, the current actuarial consultant, is getting out of the public pension plan actuarial services market, said David DeJonge, PERA's assistant executive director, in an interview.
The actuarial services contract will start May 1 and expires June 30, 2015. Two one-year contract extensions are possible, according to RFP materials.
The RFP is available on the retirement association's website.
Responses are due by 2:30 p.m. CDT March 15. A candidate will be selected at PERA's April 12 board meeting, Mr. DeJonge said.
PERA administers seven plans totaling about $21.8 billion. The assets are invested in commingled investment pools managed by the Minnesota State Board of Investment, St. Paul.