The legislative audit division of the state of Montana, Helena, is seeking an actuary for the $3.2 billion Teachers' Retirement System and $4.3 billion Public Employees' Retirement System, said an RFP posted on the state's procurement website.
The search is being conducted because of the implementation of new pension accounting and reporting standards for the audit period ended June 30, 2014, and ending June 30, 2015.
The selected firm will “determine if the procedures used by both TRS and PERS and their consulting actuaries are appropriate and reliable to properly determine the systems' net pension liability” and “evaluate the adequacy of procedures and assumptions used to estimate key amounts required by the new GASB standards,” the RFP said.
The RFP is available on the state procurement website. Proposals are due by 2 p.m. MDT on July 25. A hiring decision is expected Aug. 31.
Tia Snyder, procurement officer, did not return a telephone call by press time.
