newMerced Co.ACTUARIAL AUDIT rev JULY 2009 4

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Informations

• Publié par: Nofog
• Nombre de lectures: 8
• Langue: English

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MERCED COUNTY EMPLOYEES RETIREMENT ASSOCIATION


REQUEST FOR PROPOSAL


ACTUARIAL AUDIT SERVICES




July 1, 2009





























MERCED COUNTY EMPLOYEES RETIREMENT ASSOCIATION
REQUEST FOR PROPOSAL
ACTUARIAL AUDIT SERVICES


TABLE OF CONTENTS

SECTION ONE - GENERAL INFORMATION Page


1.1 INTRODUCTION 4
1.2 CALENDAR OF EVENTS 4
1.3 PROPOSAL SUBMISSION 4
1.4 CONTRACT PRICING 5
1.5 MODIFICATION OR WITHDRAWAL OF OFFERS 5
1.6 CONFIDENTIALITY 5
1.7 RFP RESPONSE COSTS 6
1.8 TAXES 6
1.9 DISCUSSION FORMAT 6
1.10 DISCLOSURE 7

SECTION TWO - PROPOSAL PROCEDURES 7
2.1 CONTACTS 7
2.2 RFP INQUIRES 7
2.3 ADDITIONAL INFORMATION REQUESTS 8
2.4 RESPONDENT SITE VISITS 8
2.5 AWARDING OF CONTRACT 8

SECTION THREE – ENTITY DESCRIPTION 8
3.1 BACKGROUND INFORMATION 8
3.2 PLAN INFORMATION AND BENEFIT PROVISIONS 9
3.3 RESERVES 11
3.4 ACTURIAL INFORMATION 12

SECTION FOUR - LENGTH OF CONTRACT 13

SECTION FIVE - MINIMUM REQUIREMENTS 14

SECTION SIX- PROPOSAL PREPARATION INSTRUCTIONS 14
6.1 GENERAL 14
6.2 PROPOSAL COVER LETTER 15
6.3 PROPOSAL 15

SECTION SEVEN- EVALUATION PROCEDURES 17




2 MERCED COUNTY EMPLOYEES RETIREMENT ASSOCIATION
REQUEST FOR PROPOSAL
ACTUARIAL AUDIT SERVICES

EXHIBIT A: SCOPE OF SERVICES 19
EXHIBIT B: QUESTIONNAIRE 21

ATTACHMENT 1: ANNUAL REPORTS 26
ATTACHMENT 2: RESPONDENT GUARANTEES 27
ATTACHMENT 3: RESPONDENT WARRANTIES 28
ATTACHMENT 4: DOLLAR COST BID 29
ATTACHMENT 5: SAMPLE AGREEMENT 30




































3 MERCED COUNTY EMPLOYEES RETIREMENT ASSOCIATION
REQUEST FOR PROPOSAL
ACTUARIAL AUDIT SERVICES


SECTION ONE

GENERAL INFORMATION

1.1 INTRODUCTION
This Request for Proposal (RFP) is issued by the Merced County Employees’ Retirement
Association (MCERA) for the purpose of soliciting proposals from qualified actuarial
firms (actuary) to provide:

1) annual valuations of the MCERA, an experience study every three years, and
other actuarial services on an “as needed” basis for a three-year term beginning
on or before November 2, 2009 and,
2) for actuarial auditing services for a one year term to audit the Annual Valuation
as of June 30, 2007 and 2008 and the Experience Study for the Period July 1,
2004 through June 30, 2007 beginning on November 2, 2009.

It is MCERA’s intent to obtain the services of one firm for actuarial audit services and
one different firm, for actuarial consulting services as described in Exhibit A Scope of
Services. A firm may submit bids for either or both types of services but will only be
selected for one.

MCERA is a cost-sharing, multiple-employer, defined benefit pension plan covering the
employees of the County of Merced, the Merced County Superior Court and the Merced
Cemetery District pursuant to the County Employees Retirement Law of 1937, California
Government Code Section 31450, et seq. MCERA operates as an independent
governmental entity separate and distinct from the County of Merced and MCERA’s
basic financial statements are included in Merced County’s basic financial reports as a
pension trust fund.

1.2 CALENDAR OF EVENTS
Request for Proposal (RFP) issued: July 1, 2009
Submission of Interpretation and/or
Written Questions on the RFP: July 15, 2009
Proposal Submission Due Date August 15, 2009
Proposal Evaluation August/ September, 2009
Finalist Presentations Week of September 21, 2009
Approval by Board of Retirement October 8, 2009
Estimated Contract Commencement November 2, 2009


1.3 PROPOSAL SUBMISSION
Respondents must submit an original, two (2) copies and CD ROM of their proposal, no
later than August 15, 2009, and prior to 1 p.m. PST, to:
4
MERCED COUNTY EMPLOYEES RETIREMENT ASSOCIATION
REQUEST FOR PROPOSAL
ACTUARIAL AUDIT SERVICES

Maria L. Arevalo
Plan Administrator
MCERA
3119 M Street
Merced, CA 95348

No telegraphic, fax, email or telephone responses will be accepted. Any proposal
received after the due date will not be considered. Any late proposals will be returned,
unopened, to the Respondent, upon request, within thirty (30) days of filing.

1.4 CONTRACT PRICING
The respondent shall provide a “not to exceed” price for the actuarial audit and/ or for the
consulting actuarial valuation in Attachment 4. If incidental costs are included in the “not
to exceed” bid, such costs shall be clearly identified and segregated from actual
engagement related costs.

1.5 MODIFICATIONS OR WITHDRAWALS OF OFFERS/ ERRORS
Responses to this RFP may be modified or withdrawn in writing or by fax notice if
received prior to the date specified for submission of proposals. Modifications to or
withdrawal of a proposal received after the date specified for submission of proposals
will not be considered except as provided in 6.1.

If a Respondent discovers any ambiguity, conflict, discrepancy, omission or other error in
this RFP, please immediately notify MCERA of such error by e-mail at
[e-mail] and request clarification or modification of the document. If
it becomes necessary to revise any part of this RFP or if a more exact interpretation of
provisions of this RFP are required prior to the due date for proposals, a supplement will
be posted by MCERA on its website. If such addenda issuance is necessary, MCERA
reserves the right to extend the due date of proposals to accommodate such
interpretations or additional data requirements.

If the Respondent fails to notify MCERA of a known error or an error that reasonably
should have been known prior to the final filing date for submission, the Respondent
shall assume the risk. If awarded the contract, the Respondent shall not be entitled to
additional compensation.


1.6 CONFIDENTIALITY
All responses to this RFP become the property of MCERA and will be kept confidential
until such time as recommendation for award of a contract has been announced.
Thereafter, submittals are subject to public inspection and disclosure


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MERCED COUNTY EMPLOYEES RETIREMENT ASSOCIATION
REQUEST FOR PROPOSAL
ACTUARIAL AUDIT SERVICES

under the California Public Records Act. If a Respondent believes that any portion of its
submittal is exempt from public disclosure, such portion may be marked “confidential.”
MCERA will use reasonable means to ensure that such confidential information is
safeguarded but will not be held liable for inadvertent disclosure of such materials, data
and information.

Submissions marked “confidential” in their entirety will not be honored as such and
MCERA will not deny public disclosure of all or any portion of submittals so marked.
By submitting information with portions marked “confidential,” the Respondent
represents it has a good faith belief that such material is exempt from disclosure under the
California Public Records Act and agrees to reimburse MCERA for, and to indemnify,
defend and hold harmless MCERA, its officers, fiduciaries, employees and agents from
and against: (a) any and all claims, damages, losses, liabilities, suits, judgments, fines,
penalties, costs and expenses including, without limitation, attorneys’ fees, expenses and
court costs of any nature whatsoever (collectively, “Claims”) arising from or relating to
MCERA’s non-disclosure of any such designated portions of a proposal if disclosure is
deemed required by law or court order.

1.7 RFP RESPONSE COSTS
MCERA accepts no obligations for costs incurred by Respondents in preparing
responses to this request.

1.8 TAXES
MCERA is exempt from federal, state and local taxes. MCERA will not be responsible
for any taxes levied on the Respondent as a result of any contract resulting from this RFP.

1.9 DISCUSSION FORMAT
MCERA reserves the right to conduct discussions or obtain clarifications, either oral or
written, with those Respondents determined by MCERA to be potential finalists. Such
communications may be permitted after submission of proposals and prior to award for
the purpose of obtaining best and final offers. In such communications, there shall be no
disclosure of any information derived from proposals submitted by competing Bidders to
anyone outside the Evaluation Committee. The purpose of such discussions shall be to
examine Bidders’:
- Qualifications.
- Proposed method of performance.
- Proposed personnel and facilities.