Key Takeaways
- • The Natick Retirement System, a Massachusetts public employee pension fund with $301 million in assets as of December 31, 2025, is soliciting proposals for actuarial valuation and advisory services.
- • The Board is seeking qualified actuaries to conduct a comprehensive actuarial valuation, assess funding adequacy relative to prescribed benefits under Massachusetts General Laws Chapter 32, and develop bi-annual funding schedules.
- • Successful bidders must demonstrate expertise in GASB Statements Nos. 67 and 68 accounting valuation reporting and advise on actuarial funding implications under state law.
- • The proposal deadline is May 28, 2026, at 4:00 PM EST, with the RFP available through Executive Director Beth A. Matson at the Natick Retirement Board office in Natick, Massachusetts.
Summary
The Natick Retirement System is conducting a formal procurement process to secure actuarial and administrative services for its defined benefit pension plan. The system, which manages $301 million in assets as of year-end 2025, issued a Request for Proposal on April 29, 2026, seeking qualified actuaries and actuarial service providers to perform a full actuarial valuation and comprehensive system review.
The scope of work centers on determining whether the system's current asset levels and contribution structures are sufficient to meet prescribed benefits obligations under Massachusetts General Laws Chapter 32 and Chapter 34B, Section 19. Additionally, the selected firm will be responsible for developing and recommending bi-annual funding schedules in compliance with state statutory requirements. The Board has explicitly reserved the right to reject proposals or cancel the procurement if deemed not in the system's best interest.
Prospective bidders must demonstrate substantive experience preparing GASB Statements Nos. 67 and 68 accounting valuation reports, which are critical for public pension financial reporting and transparency. The successful proposer will also serve as an ongoing advisor to the Retirement Board on matters affecting the actuarial funding schedule and regulatory compliance. Interested parties should contact Executive Director Beth A. Matson at the Natick Retirement Board office, located at 117 West Central Street, Suite 210, Natick, MA 01760, by telephone at (508) 647-6440 or email at [email protected]. The proposal submission deadline is Thursday, May 28, 2026, at 4:00 PM EST, with late submissions not accepted.
The scope of work centers on determining whether the system's current asset levels and contribution structures are sufficient to meet prescribed benefits obligations under Massachusetts General Laws Chapter 32 and Chapter 34B, Section 19. Additionally, the selected firm will be responsible for developing and recommending bi-annual funding schedules in compliance with state statutory requirements. The Board has explicitly reserved the right to reject proposals or cancel the procurement if deemed not in the system's best interest.
Prospective bidders must demonstrate substantive experience preparing GASB Statements Nos. 67 and 68 accounting valuation reports, which are critical for public pension financial reporting and transparency. The successful proposer will also serve as an ongoing advisor to the Retirement Board on matters affecting the actuarial funding schedule and regulatory compliance. Interested parties should contact Executive Director Beth A. Matson at the Natick Retirement Board office, located at 117 West Central Street, Suite 210, Natick, MA 01760, by telephone at (508) 647-6440 or email at [email protected]. The proposal submission deadline is Thursday, May 28, 2026, at 4:00 PM EST, with late submissions not accepted.
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