Actuarial Services For Non-Certificated Employees Retirement Plan (NCERP)

Project Description: St. Louis Community College (hereinafter referred to as “College”) invites all interested and qualified parties to submit proposals for actuarial services for the Non-Certificated Employees Retirement Plan (hereinafter referred to as “Plan”).
The Board of Trustees of St. Louis Community College established the Non-Certificated Employees Retirement Plan (NCERP) of the Junior College District in 1969. The Plan is a defined benefit retirement plan covering eligible non-certificated employees of the College and is not subject to ERISA.
Certain administrative elements of managing this Plan are currently performed by a third-party administrator in coordination with College staff. The purpose of this Request for Proposal is to obtain proposals from qualified actuarial firms to provide independent actuarial services to support the Plan’s financial reporting, valuation, compliance, and governance requirements.
The selected firm will serve as the Plan’s independent consulting actuary and will provide professional actuarial services relied upon for financial reporting, fiduciary oversight, and institutional decision-making. The selected firm will work collaboratively with the College, its third-party administrator, auditor, trustee/custodian, investment managers, and other Plan service providers as necessary.
NCERP currently holds approximately $76 million in invested assets. There are approximately 700 active contributing participants and approximately 280 retirees currently receiving monthly benefits. Participant contributions are fixed at 4% of compensation and are matched 100% by the College. Annual contributions total approximately $1.2 million, and annual benefit payments total approximately $3.4 million.