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REQUEST FOR PROPOSAL for ACTUARIAL VALUATION AND PENSION CONSULTING SERVICES RFP # 323040717BBRelease Date: April 7, 2017Proposal Submittal Deadline: May 8, 2017, 3:00 PM Central Impeacher Retirement
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How to fill out actuarial valuation and pension

01
Gather all relevant financial documents, such as balance sheets, income statements, and cash flow statements.
02
Calculate the present value of the pension liabilities using actuarial tables and methods.
03
Determine the discount rate to be used based on the risk-free rate and the company's risk profile.
04
Calculate the projected benefit obligation (PBO) by estimating the future benefit payments to the participants.
05
Adjust the PBO for any changes in the plan, such as new hires, terminations, or amendments.
06
Determine the fair value of plan assets, taking into account any investments or contributions made.
07
Compare the fair value of plan assets to the PBO to determine the funded status of the pension plan.
08
Prepare the actuarial valuation report, including all the calculations and assumptions made.
09
Review and validate the actuarial valuation report with the appropriate stakeholders, such as management or the board of directors.
10
Submit the actuarial valuation report to the relevant regulatory bodies or authorities, if required.

Who needs actuarial valuation and pension?

01
Companies that offer defined benefit pension plans
02
Companies that want to understand the financial impact of their pension obligations
03
Employers who want to ensure compliance with regulatory requirements
04
Employees who are enrolled in a pension plan and want to understand the financial health of the plan
05
Investors and stakeholders who want to evaluate the financial stability of a company
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Actuarial valuation is a systematic process to evaluate the financial condition of a pension plan by analyzing its liabilities and assets. A pension is a retirement plan that provides a monthly income to employees upon retirement, based on their earnings and years of service.
Typically, employers that sponsor defined benefit pension plans are required to file actuarial valuations. This includes public and private sector employers who have pension fund obligations.
To fill out an actuarial valuation, one must gather detailed data on plan participants, contributions, benefits, and investment returns. This information is then used by an actuary to calculate the present value of future benefits and determine the required contributions.
The purpose of actuarial valuation is to assess the plan's financial health, ensure that it has sufficient assets to meet future obligations, and aid in determining required contributions.
Information that must be reported includes the number of participants, the accrued liabilities, assets of the plan, funding ratios, and any assumptions used in the calculation such as discount rates and mortality rates.
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