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EXHIBIT B <br /> II. Scope of Services <br /> The Actuary will provide the County with an actuarial determined valuation of <br /> the County's OPEB for compliance with GASB 45 . At a minimum , this <br /> valuation should : <br /> • Determine health care and life insurance cost of benefits <br /> • Recognize OPEB expense on the accrual basis of accounting <br /> • Project future benefit payments <br /> • Determine actuarial present value of projected benefit (ARC) <br /> • Determine accrued liability <br /> • Determine value of assets <br /> • Determine unfunded actuarial accrued liability <br /> • Determine normal cost <br /> • Determine required contribution of the employer —as a level dollar amount <br /> and as a level percentage of covered payroll <br /> • Determine Net OPEB obligation (for employer disclosure under GASB <br /> statement 45 if necessary) <br /> • Provide the actuarial accrued liability for OPEB associated with past <br /> service costs <br /> • Determine the implicit rate subsidy , if any, and the impact it would have <br /> on the OPEB liability <br /> • Use an acceptable actuarial cost allocation method to assign costs to <br /> specific accounting periods <br /> • Review the data to assess any inconsistencies and furnish the results to <br /> County. . <br /> • Prepare a summarized annual gain/loss analysis to determine reasons <br /> for changes in the unfunded actuarial accrued liability, whenever a prior <br /> actuarial valuation is available to support this <br /> • Provide information useful in assessing future funding requirements on the <br /> County's cash flows <br /> • Recommend alternatives for reducing the cost of benefits and/or <br /> recommendations on managing the OPEB liability (this may include <br /> changes in plan design) <br /> • Assist the Finance Department in the information required for their <br /> Comprehensive Annual Financial Report (CAFR) <br /> • Prepare an analysis to determine how establishing a trust or equivalent <br /> arrangement would affect the interest rate assumption . Timing <br /> considerations of establishing the trust should also be considered <br /> • Prepare an allocation plan for funding liabilities and assigning cost to <br /> appropriate cost centers [stratification performed only for an additional <br /> fee] <br /> 1 <br />