HomeMy WebLinkAboutANW Actuaries NorthwestAW
Ac
May 9, 2017
Guy Wangsgard
Chief Financial & Operations Officer
Bonneville Joint School District No. 93
3497 N Ammon Road
Idaho Falls, ID 83401
Actuaries Northwest
16618 SE 45" Street
Bellevue, WA 98006
Phone: 425 -835 -3805
Mobile: 425- 220 -6966
Fax: 425 -341 -9104
E -mail: Michael @actuariesnw.com
Re: Bonneville Joint School. District 2016/2017 Fiscal Year GASB 45175 Valuation Follow
up
Dear Mr. Wangsgard:
We are contacting you regarding the required 2016/2017 Bonneville Joint School District GASB
45 valuation. Our records show when we provided you with the prior GASB 45 valuation for the
2014/2015 fiscal year the next valuation would be required in two years. We welcome the
opportunity to provide Bonneville Joint School District with our services again and have provided
a description of the project deliverable and proposed fee schedule below.
Project Deliverable
The project deliverable is similar to what we previously provided, a written valuation report
complying with the regulations of GASB 45. The valuation report will be based on assumptions,
methodologies and reporting requirements prescribed by GASB 45 and GASB 75 regulations
and all corresponding actuarial standards of practice.
The timing of the valuation reports will be based on the phase -in rules prescribed in the
regulations, along with receipt of the required data and information as outlined in Exhibit A. Our
goal is to complete the valuations within four weeks of receipt of all required data.
Proposed Fees
The proposed fee is as follows:
2016/2017 Fiscal Year Valuation: $9,500
The fees assume data collection by Bonneville Joint School District, with verification and review
performed by Actuaries Northwest. The fees do not include travel expenses or report
presentations to the district, which are reimbursable based on actual travel costs without mark-
up and standard hourly billing rates.
16618 SE 45" Street, Bellevue, WA 98006
^35.3805
Page 2 of 3
Actuaries Northwest
If you are in agreement with us providing the 2016/2017 valuation services for the proposed
fees, please sign the document below and return to my attention.
Signed and agreed to by:
CLIENT (si atur )
, ) � / ra[, Bea �d 6W t t-177
CLIENT (print name and title)
/D 7 _
TODAY'S DATE
Thank you again for your consideration. Please call me with any questions at (425) 835.3805.
Sincerely,
Michael Elliston
ASA, MAAA, FCA
GASB 45 Follow up — 05- 9- 17.doc
M LElkwg
CC: Kelly Grebinsky
16618 SE 45„' Ave SE, Bellevue, WA 26006
426.$35.3805
Page 3 of 3
Exhibit A: Data Requirements List
Actuaries Northwest
Written materials:
- Current employee booklets, bargaining agreements or other materials describing the
benefits
r' Year -end asset statements showing trust funds set aside to pay retiree benefits, if any
f Summary of changes in benefits over last 2 -3 years
Census information {spreadsheet format preferred }:
Census data needed for each benefit eligible employee and retiree (except as otherwise
indicated):
r SSN (or some other unique identifier)
Last Name
i First Name
Gender
Group ID (department, division, bargaining group, etc.)
Date of birth
Date of hire
Service (as may be applicable to various plans)
Payroll "earnings" as defined for any applicable benefit (may require multiple earnings
fields)
Date of retirement (retirees only)
r Spouse date of birth if married
Enrollment status in plans (single, two party, family)
Current monthly retiree contributions by individual
f! Employer contribution
¢_.. Custom fields related to your specific plans
Premiums /Claim Costs
d Claims and number covered by month for the medical, Rx, dental, and vision providers
for the current year and most recent prior years. If claims data is not available, premiums
by month can be substituted.
Premiums by month for life insurance providers for current year and most recent prior
years
Administrative charges by month for each coverage for current year and most recent
prior years
If there are any items on the data request that either don't seem applicable to your plan or
organization, or appear that they would require an inordinate amount of time to gather, let us
know and we can discuss if there are any alternate approaches to the request as written.
16618 5E 45" Ave SE, Bellevue, WA 98006
425.835.3805