Wisconsin Vendornet Platform #GASB752024-2025

Fitchburg seeks GASB 75 OPEB actuarial valuation services

The City of Fitchburg, Wisconsin, is seeking an actuarial firm to complete a GASB 75 OPEB valuation and reporting support. - Government buyer: City of Fitchburg, Wisconsin; no sub-agency or specific office is identified. - Requested service: One actuarial valuation of the City’s Other Postemployment Benefits (OPEB), covering the applicable 2024–2025 measurement period. - Review plan, participant, benefit, financial, and historical data; identify data gaps; document actuarial assumptions and methods; and calculate required benefit and liability measurements. - Analyze liability changes, trends, and scenario or sensitivity impacts; prepare financial reporting schedules and a written valuation report; coordinate with independent auditors; and discuss or present results if requested. - Vendors and OEMs: No specific vendors or OEMs are named. This is a professional-services procurement, not a request for manufactured products. - Notable requirements: The selected firm should have appropriate actuarial credentials and governmental OPEB/GASB 75 experience, provide professional liability insurance, protect confidential data, and supply at least three comparable-project references. Work must support the City’s audit, and auditor assistance may be needed after the report is complete. - Budget: Maximum stated budget is $5,000. - Line items: One OPEB actuarial valuation service; no product part numbers or product quantities are specified.

Description

The City of Fitchburg, Wisconsin, is seeking proposals from qualified actuarial firms to perform a GASB Statement No. 75 valuation of the City's Other Postemployment Benefits for the 2024–2025 measurement period. Work includes reviewing plan and participant information, calculating and analyzing OPEB liabilities, documenting assumptions and methods, and providing financial reporting schedules and a written valuation report. The selected firm must support the City's independent auditors and complete the final report before the auditors arrive in mid-March 2027. The RFP states a maximum budget of $5,000.

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