Actuarial Shared Services is a coalition of Texas governments that have agreed to develop a standard approach for acquiring the actuarial services necessary to meet the requirements of Governmental Accounting Standards Board statements 74 (Financial Reporting for Post Employment Benefit Plans Other Than Pension Plans) and 75 (Accounting and Financial Reporting by Employers for Post Employment Benefits Other Than Pensions).
- GRS is a national firm focused on providing actuarial services to the public sector
- GRS’ clients include some of the largest pension plans in the Country
- Over 100 Texas employers participate in the NCTCOG actuarial shared services program
- GRS performs the pension valuations for the Texas Municipal Retirement System (TMRS) and is also very familiar with the Texas County and District Retirement System (TCDRS)
- The assumptions and data used in the OPEB valuation are consistent with those used to determine the pension liabilities
- Two to three credentialed actuaries are involved in each valuation
- Each OPEB valuation is subject to a stringent check and review process
- An annual benchmarking report is provided to each participating employer which allows them to compare liabilities and benefit strategies with other employers
Through a procurement process, NCTCOG selected Gabriel, Roeder, Smith & Co. (GRS) to deliver actuarial and consulting expertise on a shared services basis.