Ontario Ministry of Finance issued an RFP for an actuarial consulting firm to assist in creating the province’s proposed supplemental defined benefit plan.
The selected firm will help in finalizing structure and design elements of the Ontario Retirement Pension Plan, Toronto; aid in developing future proposed legislation and regulations related to the plan; and assist in creating administrative, enforcement and compliance requirements, according to the RFP.
The RFP is on the province’s governmental procurement page, Ontario Tenders Portal. Proposals are due at 11 a.m. EST Jan. 22; a hiring date has not been set.
Legislation was introduced Dec. 10 in the Ontario parliament to create the ORPP, which would be a mandatory supplement to the C$234.4 billion (US$201.5 billion) Canada Pension Plan, Ottawa. If the bill is passed, the plan would be introduced by 2017. The plan could have an estimated C$80 billion in assets once funded.