Reading (Mass.) Retirement System on Tuesday hired KMS Actuaries as actuary for the $92 million defined benefit plan, said Colleen Loughlin, the pension fund's retirement administrator.
KMS will create an actuarial report and funding schedule for the pension fund.
The contract of the previous actuary, Segal Co., expired June 30. Segal was among the firms that bid, along with Hooker & Holcombe, Stone Consulting Group, Sherman Actuarial Services and Buck Consultants.
KMS was the highest-rated bidder with the lowest price, Ms. Loughlin said.
An RFP was issued May 30.
