Alabama Retirement Systems, Montgomery, is searching for actuarial auditing services for the $24 billion Teachers' Retirement System, the $12 billion Employees' Retirement System and $300 million Judicial Retirement Fund.
The boards for TRS and ERS adopted the recommendations of five-year experience studies conducted by the systems' actuary, which were to be implemented in the Sept. 30, 2016, valuations, according to the RFP. The scope of the audit will be to determine if the recommendations of changes from the experience study as of Sept. 30, 2015, were appropriately implemented in the actuarial valuations as of Sept. 30, 2016. The Identity of the retirement systems' current actuary was not immediately available.
The RFP is available on the retirement systems' website. Proposals are due by 11 a.m. CST on April 9. A selection is expected to be made no later than May 31.
Further information could not be learned; Edward Davis, director of office services for the retirement systems, could not be reached for comment.