Pennsylvania Intergovernmental Cooperation Authority, Philadelphia, is searching for a firm or individual to conduct an actuarial study for the $4.3 billion Philadelphia Board of Pensions and Retirement, confirmed executive director Fran Burns.
The chosen firm or individual will conduct “stress tests of the actuarial model and evaluate scenarios of change in the actuarial model,” according to an RFP posted on the authority's website.
The short-term project is being undertaken by the authority, an oversight agency for the city of Philadelphia, to better understand the pension fund's assumptions. Cheiron is the pension fund's actuarial consultant.
Proposals are due at 5 p.m. EDT April 15. A decision is expected shortly thereafter.