Alabama Retirement Systems, Montgomery, hired Segal Consulting to provide actuarial auditing services for the $24 billion Teachers' Retirement System, $12 billion Employees' Retirement System and $300 million Judicial Retirement Fund, said an announcement on the pension system's website.
An RFP was originally issued in March. The scope of the audit will be to determine whether recommended changes from an experience study as of Sept. 30, 2015, were appropriately implemented in the actuarial valuations as of Sept. 30, 2016. The identity of the pension system's incumbent actuary was not immediately available.
Edward Davis, director of office services for the pension system, could not be reached for additional information.