| Date published: | September 2, 2025 |
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The Board, as trustees of Newton’s defined benefit pension plan, invite qualified actuaries to submit written proposals for actuarial valuation services.
- This page, Newton Retirement Board Request for Proposal, is offered by
- Public Employee Retirement Administration Commission
Newton Retirement Board Request for Proposal
NEWTON CONTRIBUTORY RETIREMENT BOARD
PUBLIC NOTICE
REQUEST FOR PROPOSALS (RFP) #26-13
The Newton Contributory Retirement Board (“Board”) invites sealed proposals pursuant to G.L. c.32, §23B for:
ACTUARIAL VALUATION SERVICES
The Board, as trustees of Newton’s defined benefit pension plan, invite qualified actuaries to submit written proposals for actuarial valuation services for the next five (5) fiscal years, with an extension option by NCRB of two (2) additional years. Responsive proposals shall provide for a fixed annual fee for completion and presentation of the annual plan valuation and funding schedule/appropriation report for each of the next five (5) fiscal years, and an hourly rate for any additional special studies that may be authorized by a majority vote of the NCRB. It is expected that the actuary will provide on-going actuarial advice and counsel to the NCRB, as necessary as part of the fixed annual fee and that hourly charges will only be applicable to formal special studies authorized by vote of the NCRB to determine the costs associated with plan design changes.
The NCRB reserves the right to cancel or reject in whole or in part any or all proposals that are not deemed to be in the best interests of the Newton Contributory Retirement System (NCRS). The selected vendor must have demonstrated familiarity with and agree to comply with Massachusetts General Laws Chapter 32 and all applicable regulations, policies, and guidelines promulgated by the Massachusetts Public Employee Retirement Administration Commission (PERAC), and accounting and financial reporting requirements for state and local retirement systems, promulgated by the Government Accounting Standards Board (GASB).
SCHEDULE
NCRB Issuance of RFP September 5, 2025
Vendor Questions about RFP to NCRB September 19, 2025
NCRB Written Responses to Vendor Questions September 25, 2025
Vendor Proposals Due Date October 14, 2025
NCRB Proposal Evaluation* October 28, 2025
NCRB Vendor Interviews* November 20, 2025
Contract Award Vote of NCRB* November 20, 2025 or December 18, 2025
*Anticipated
TO OBTAIN A COPY OF THE RFP:
Please obtain a copy of the RFP online at www.newtonma.gov/bids after 10:00 a.m., September 5, 2025 and not later than September 19, 2025. It is the sole responsibility of the contractor obtaining the RFP online to ensure they have received any and all addenda prior to the bid opening. If you would like to make it known that your company has obtained the RFP and addenda, if any, online, you may do so by emailing ssaintcyr@newtonma.gov with your name, address, and phone number.
Proposals will be received until: 10:00 a.m. EST, Tuesday, October 14, 2025
at the City of Newton Purchasing Department, Room 108, 1000 Commonwealth Ave., Newton, MA 02459. All proposals shall be deemd public records in accordance with public records law.
Award will be made to the responsible and responsive proposer submitting the most advantageous proposal, taking into consideration price and evaluation criteria set forth in the RFP.
NEWTON CONTRIBUTORY RETIREMENT BOARD
September 5, 2025