Contract for Actuarial Audit Services

The Wisconsin Contract for Actuarial Audit Services, managed by the Legislative Audit Bureau, provides specialized professional services focused on comprehensive actuarial auditing and review. The contract covers critical government financial assessment activities, specifically targeting state retirement and health insurance programs including the State Retiree Life Insurance Program, Local Retiree Life Insurance Program, State Retiree Health Insurance Program, and Group Health Insurance Program. Services encompass independent assessments of consulting actuary valuations, compliance reviews with GASB Statements 74 and 75, and detailed written reporting, with a primary focus on ensuring accuracy of actuarial calculations and financial representations.

The contract was awarded to Lewis & Ellis, Inc. in May 2018, with an initial performance period from the signing date until January 31, 2019, and potential extensions up to four additional years for specific program components. The total contract value is capped at $25,667, with payment structured across four installment milestones based on report acceptance. Geographically limited to Wisconsin, this state-wide contract is a professional services agreement that enables precise financial auditing for government retirement and health insurance programs, utilizing specific UNSPSC codes related to expense management, retirement plans, auditing services, and pension fund management.