Wisconsin Vendornet Platform #LAB-2026-01

Independent actuarial audit of Milwaukee County Employees’ Retirement System

The State of Wisconsin’s Legislative Audit Bureau is seeking an independent actuarial audit of Milwaukee County’s Employees’ Retirement System (County ERS). - Government buyer: State of Wisconsin, Legislative Audit Bureau, a nonpartisan legislative service agency. Sheri Conway is named in the solicitation; Milwaukee County ERS is the system being audited. - Requested service: One qualified actuarial firm to independently audit the County ERS actuarial valuation and five-year experience study. No products, part numbers, or product quantities are requested. - Audit work: Replicate and analyze the valuation; review data, procedures, methods, and assumptions; and assess applicable actuarial standards and requirements, including 2023 Wisconsin Act 12. - Key requirements: The lead actuary must be an SOA Fellow with five years of public pension consulting experience. The firm must be independent in fact and appearance and disclose conflicts of interest. - Deliverables: A written report with an overall opinion, audit scope and procedures, findings and estimated effects, and detailed recommendations written for lay readers. The firm must also provide progress updates, present draft reports, brief the Pension Board in person if requested, and retain workpapers for Audit Bureau review. - Named commercial vendors or OEMs: None.

Description

The Wisconsin Legislative Audit Bureau seeks one qualified actuarial firm to audit the Employees’ Retirement System of the County of Milwaukee. The work includes independently verifying and analyzing the assumptions, procedures, and methods used in the actuarial valuation as of January 1, 2028, and fully replicating its calculation. The contractor will also independently review the five-year experience study covering January 1, 2022, through December 31, 2026. The final written report is due September 8, 2028.

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