Minot Civicplus #654

City of Minot Solicits Actuarial Services for Pension and OPEB Plans

The City of Minot is seeking professional actuarial services to support its pension and other post-employment benefits (OPEB) plans. - Government Buyer: - City of Minot, City Treasurer's Office - Services Requested: - Annual actuarial valuations for pension and OPEB plans - Experience studies every five years (first required at contract inception) - Comprehensive reporting to ensure compliance with GASB Statements 67, 68, 74, and 75 - Preparation of annual disclosure and funding reports - Participant listings and benefit calculations upon request - Engagement with contracted auditors and presentations to the City Employee Pension Plan (CEPP) Board - Support for audit requests and ensuring reports meet GFOA requirements for inclusion in the Annual Comprehensive Financial Report (ACFR) - Notable Requirements: - Both bound and electronic proposal submissions required - Experience study must be completed at the start of the contract - Services must be tailored to meet GASB and GFOA standards - No specific OEMs or vendors are named in the solicitation - Contract Structure: - Initial two-year contract with three one-year renewal options, subject to annual review and performance

Description

The City of Minot is seeking proposals from qualified vendors to provide pension actuarial and other post-employment benefits (OPEB) reporting services for its pension and OPEB plans for fiscal years ending December 31, 2026 and 2027, with options for three one-year renewals. The services include compliance with GASB Statement Numbers 67, 68, 74 & 75, annual actuarial valuations, experience studies every five years, and engagement with auditors. Vendors must submit five bound copies and an emailed proposal by May 29, 2026. The contract is expected to be awarded by July 6, 2026, following City Council approval.

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