CalPERS is preparing to launch a request for proposal on March 19 for an outside actuarial valuation and certification firm.
The board of the $533.4 billion California Public Employees’ Retirement System, Sacramento, approved the RFP at its Feb. 19 for an independent outside auditing firm to provide the board with parallel valuations on a quadrennial schedule. The selected actuarial firm would review the work of the CalPERS' actuarial staff and certify its work satisfies actuarial professional standards.
The contract of its former outside actuary Buck Global expired in August. Buck was acquired by Arthur J. Gallagher & Co. in April 2023.
The RFP will be posted on CalPERS' website. The board expects to finalize its new auditor’s contract as early as August this year, a CalPERS spokesman said.
