Workers Compensation Fund, Long Term Disability Fund and Post-Employment Liabilities Review Actuarial Services

The Regional Municipality of Waterloo is seeking a qualified actuary to review its workers compensation fund, long term disability fund, and post-employment liabilities. The agency needs to calculate the actuarial liability for each program as of December 31, 2026, 2027, and 2028, while assessing the adequacy of the existing accumulated reserve funds. This review must address claims incurred in both programs and analyze the fluctuation in the experience of the existing funds. The selected actuary must provide a comprehensive report containing an appendix for senior management that explains the quality of source data, the actuarial application, and changes from the prior update. This appendix must include a comparative analysis to the previous actuarial review and detail any changes in assumptions. The agency requires recommendations on reserve balances and an internal funding rate premium amount based on full-time equivalents to cover current and future claim and administration costs. The scope also demands an assessment of the current and post-employment benefits program reserves and funding levels to outline recommended changes for reserves and internal funding plans for unfunded liabilities. Eligible bidders must be located onshore within Canada, and the performance of the work must take place onsite. Bidders must register on the issuing authority website to download the unwatermarked request for proposals and may submit their responses digitally via email or online.