Oklahoma Public Employees Retirement System, Oklahoma City, is searching for firms to provide actuarial consulting and auditing services, said Joseph A. Fox, executive director.
The searches are being conducted because of a requirement that services go out to bid every five years.
Cavanaugh Macdonald Consulting and Finley & Cook currently serve as the retirement system’s actuarial consultant and internal auditor, respectively. Their contracts expire June 30. Both firms are invited to rebid.
The RFPs are available on the retirement system’s website. Proposals are due by 4:30 p.m. CST on Dec. 12. Finalist presentations are tentatively scheduled for Jan. 15, with hiring decisions expected the same day.
The board of the Oklahoma PERS oversees an $8.6 billion defined benefit plan for public employees, a $301 million defined benefit plan for justices and judges, a 401(a) and 457(b) plan with $894.3 million in assets combined, and two new defined contribution plans for employees hired on or after Nov. 1, 2015.