Washoe County Comptroller 3404

OPEB

The government buyer is Washoe County, a political subdivision of the State of Nevada, specifically involving the Washoe County Department of Human Resources and the Washoe County Finance Department located in Reno, NV. The awarded vendor is Foster & Foster Consulting Actuaries, Inc., based in Naperville, Illinois. The contract is for professional consulting services to support Washoe County's Other Postemployment Benefits (OPEB) plans and Retiree Drug Subsidy (RDS) plan. The services include annual full GASB 74 actuarial valuations for postemployment benefits for employees and retirees, rollforward valuations in interim years, and annual online RDS attestation to the Centers for Medicare Services (CMS) for three post-65 retiree prescription drug programs. The contract also allows for discretionary actuarial services such as experience studies, long-term projections of actuarially determined contributions and total OPEB liability, and projections of impacts of benefit changes. The fee schedule specifies costs for full and rollforward valuations for Washoe County RHBP, Washoe County PEBP Plan, Truckee Meadows Fire Protection District, and RDS attestation, with fees increasing by 3% for subsequent two-year cycles. Hourly rates for additional services are provided for various staff levels. The contract term is six years starting July 1, 2024, ending June 30, 2030, with performance deadlines for deliverables such as valuation reports by November 1 each year. Unique contract requirements include compliance with GASB 74 and 75 standards, RDS attestation responsibilities including CMS login credentials, indemnification and insurance provisions requiring specific coverage limits, and detailed termination clauses. The place of performance and delivery is Washoe County offices in Reno, Nevada.

Description

FY27 Purchase Order for Annual Retiree Drug Subsidy Attestation for CY2026. See fee increase for subsequent reporting cycle on attached Fee Schedule. Invoice(s) due upon receipt. (PR3000050227 was created for FY26). Contact: Jelena Williams

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