This is a service / maintenance or supply contract in Bismarck, North Dakota. Contact the soliciting agency for additional information.

The City has two pension plans - City Employees' Pension Plan and Police Employees' Pension Plan. The Governmental Accounting Standards Board requires a valuation be performed at least every two years for financial reporting. Annual disclosure reports are needed to reflect the discount rate, contributions, payroll, and funding levels as of the measurement period. These annual disclosure reports will be needed to comply with the requirements, under GASB 68, for fiscal year-end reporting in the City's notes to financial statements. Further, an experience study is required every five years to analyze the demographic and economic experience of the pension plans. The scope of services shall include but are not limited to: Annual GASB 68 pension reporting and disclosures for years ended December 31st Annual funding report for pension plans Participant Listings Engagement with auditor and completing auditor requestsfor both the plan and financial statements Attendance at one client meeting to present valuation results, analysis, and updates on pension legislation, trends, and current industry developments Benefit calculations upon request Experience study completed every five years(first one performed in year one of contract) The City currently does not have any OPEB obligations or any other obligations requiring disclosure. A copy of the City's 2022 Annual Comprehensive Financial Report and the 2022 auditor's reports are available on the City's website All responses, questions, and correspondence should be directed to Dmitriy Chernyak. In the interest of fairness to all respondents, do not contact other staff or elected or appointed officials. Written questions on the RFP will be accepted until Monday, November 20, 2023, at 5:00 PM to allow time for staff to respond in writing to all holders of this RFP. Written questions submitted after Monday, November 20, 2023, at 5:00 PM may go unanswered. The City of Bismarck (City) is requesting proposals from qualified vendors for pension actuarial services for the City's pension plans for the fiscal years ending December 31, 2023, and 2024, with three one-year renewal options upon mutual agreement. The vendor will need to provide all information necessary for the City to maintain compliance with Government Accounting Standard (GASB) No. 68 and complete an experience study every five years. A two-year contract is proposed with three one-year renewal options upon mutual agreement. This contract is subject to an annual review by the City. It is anticipated that the City will request proposals every five years. In the event of unsatisfactory performance, or when in the best interest of the City, proposals may be solicited before the end of the five-year period. Submission of a proposal indicates acceptance by the vendor of the conditions contained in this request for proposal unless clearly and specifically noted in the proposal submitted and confirmed in the contract between the City and the vendor selected. The City reserves the right, without prejudice, to reject any or all proposals. The method of Contractor Selection has not been Determined at this time.