Chelsea Retirement System
90 Everett Ave, Suite 5, Chelsea, MA 02150
Telephone (857) 777-6544
Fax (617) 466-0032
Joseph M. Siewko, Chairman
David H. Bishop
Carolyn M. Russo
Cheryl Watson Fisher
Edward Dunn
Public Notice
Chelsea Retirement Board
Request for Proposals to Provide Actuarial Services
The Chelsea Retirement Board (hereinafter, "the Board") is seeking a vendor to provide Actuarial Services, including performing annual Valuations and completing GASB statements for years ending December 31, 2025 through December 31, 2029. Contract may be extended for no more than two additional years at the discretion of the Board. To be considered for selection, the Actuarial Services provider must have and maintain professional certifications (FSA, AAA, and/or EA), must possess knowledge of General Laws Chapter 32 and 840 Code of Massachusetts, demonstrate proficiency with PERAC-mandated and industry-standard criteria for Actuarial Valuations (cost methods, assumptions, funding methodologies, etc.).
The Board oversees the City of Chelsea’s Retirement System in accordance with General Laws Chapter 32 and 840 Code of Massachusetts Regulations, as well as ancillary areas of law pertinent to public agencies generally, including the Massachusetts Public Records Law, the State Ethics Law, and the Massachusetts Open Meeting Law. This request for proposals is subject to and will be conducted in compliance with General Laws Chapter 32, § 23B.
The City of Chelsea’s Retirement System is a Massachusetts governmental unit which administers the public pensions of approximately 1,500 active and retired employees and their beneficiaries. The Board manages approximately $350,000,000 in System assets and employs a staff of two in offices located at Ninety Everett Avenue, Suite Five, Chelsea, Massachusetts.
A copy of the RFP will be available on or may be obtained from Michael Nicolazzo, Executive Director, City of Cheslea Retirement System, at MNicolazzo@chelsearetirementsystem.org.
The Request for Proposals will be available until the submission deadline of January 8, 2026, at 3:00 PM. The Board reserves the right to reject any and all proposals at its discretion.
| Date published: | December 16, 2025 |
|---|