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DEPARTMENTPublic Works Engineering ServicesREQUEST FOR PROPOSAL (RFP) NUMBER 148737 FOR PROFESSIONAL SERVICES Lucie Stern Buildings Mechanical/Electrical Upgrades (PF09000)Proposal Meeting: (Mandatory)10:00

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How to fill out actuarial valuation - city

01

Gather all relevant financial and actuarial data such as employee payroll information, benefit plans, and historical performance.

02

Determine the valuation date and the assumptions to be used in the actuarial valuation. This includes factors such as interest rates, mortality rates, and salary growth rates.

03

Calculate the present value of the future benefits and liabilities using the chosen assumptions.

04

Prepare a detailed report summarizing the actuarial valuation results and explaining the methodology used.

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Review and validate the results with relevant stakeholders such as pension plan trustees or management.

06

Make any necessary adjustments or revisions based on feedback and finalize the actuarial valuation report.

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Communicate the results to the intended audience, such as government agencies, auditors, or plan participants.

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Ensure compliance with applicable regulations and accounting standards.

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Periodically review and update the actuarial valuation as needed to reflect changes in demographics, economic conditions, or plan design.

Who needs actuarial valuation - city?

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Employers who offer pension plans or other retirement benefit plans to their employees often require actuarial valuations.

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Government agencies and regulatory bodies may need actuarial valuations to assess the financial health and sustainability of public pension plans.

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Actuaries themselves need actuarial valuations to analyze and predict future cash flows and risks associated with insurance and pension plans.

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What is actuarial valuation - city?

Actuarial valuation - city is a financial assessment conducted by an actuary to determine the financial health of a pension plan in a specific city.

Who is required to file actuarial valuation - city?

Employers who sponsor pension plans in the city are required to file actuarial valuations with the appropriate regulatory authorities.

How to fill out actuarial valuation - city?

Actuarial valuations for the city must be completed by a qualified actuary using specific financial and demographic data related to the pension plan.

What is the purpose of actuarial valuation - city?

The purpose of actuarial valuation - city is to assess the funding status of a pension plan, determine contribution requirements, and ensure compliance with regulatory guidelines.

What information must be reported on actuarial valuation - city?

Actuarial valuations for the city must include details about plan liabilities, assets, discount rates, mortality rates, and other relevant financial information.

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