Washington County Ionwave #PUR-1817 Addendum 2

Washington County, MD Seeks Record-Keeping and Actuarial Consulting for Retirement and Benefit Plans

Washington County, Maryland is seeking a qualified firm to provide comprehensive record-keeping and actuarial consulting services for its employee retirement and benefit plans. - Government Buyer: - Board of County Commissioners of Washington County, Maryland - Offices include Department of Health and Human Resources, Chief Financial Officer, and Office of Procurement - Scope of Services: - Record-keeping and actuarial consulting for: - Employees Retirement Plan (including Deferred Retirement Option Program - DROP) - Volunteer Length of Service Award Program (LOSAP) for emergency services providers - Other Post-Employment Benefits (OPEB) under GASB-45/75 - Services include: - Maintaining service, salary, and contribution histories - Actuarial valuations and annual reports - GASB 74/75 compliance and financial disclosures - Benefit calculations (including DROP and service buy-back) - Investment performance reviews - Annual employee statements and secure online portal for benefit estimates - Annual presentations to County Commissioners - Ad hoc consulting services included in base pricing - Notable Requirements: - Experience with public sector retirement and benefit plans - Ability to support both technical and actuarial functions - Secure data exchange (Excel/PDF via secure portal) - Professional liability and other insurances required - Confidentiality and compliance with Maryland and federal regulations - Limited direct communication with plan participants - Vendors and OEMs: - No specific OEMs or hardware vendors are named in the solicitation - Bolton Partners, Inc. is referenced as a current or previous service provider - Pricing Structure: - Annual lump sum fees for core services (Retirement Plan: $48,605–$53,800/year; LOSAP: $4,500–$5,100/year) - Hourly rates for extra work (Senior Consultant, Actuary, Consultant, Actuarial Assistant: $150–$550/hour) - Period of Performance: - Initial contract term is one year, with up to four additional one-year renewal options - Place of Performance: - Washington County Administration Complex, 100 West Washington Street, Hagerstown, MD 21740 - Unique Aspects: - Secure online portal for employees and employers - Annual actuarial reports and compliance with GASB standards - Ad hoc services must be included in base pricing

Description

The Board of County Commissioners of Washington County, Maryland is soliciting proposals for record-keeping and actuarial consulting services. The services cover the Retirement Plan for county employees, including a Deferred Retirement Option Program (DROP), the Washington County Maryland Volunteer Length of Service Award Program (LOSAP) for emergency services providers, and Other Post-Employment Benefits under GASB-45 (OPEB). The solicitation includes technical and price proposals, with a pre-proposal conference scheduled and a question deadline. The contract term is one year with options to renew for up to four additional years.

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