Signed Contract.pdf

This is a contract for actuarial audit services between the State of Wisconsin Legislative Audit Bureau and Lewis & Ellis, Inc., dated May 2018. The contract is effective upon signing and remains in effect until January 31, 2019. The purpose is to provide actuarial audit services related to the Bureau's audit of the State Retiree Life Insurance Program, Local Retiree Life Insurance Program, State Retiree Health Insurance Program, and Group Health Insurance Program.

The contract covers three main components of actuarial audit services with a maximum reimbursement of $25,667 for staff and other necessary costs. Payment is structured in four installments: $8,113.50 each for acceptance of the Retiree Life Insurance Program Report and State Retiree Health Insurance Program Report, $4,720.00 for acceptance of the Group Health Insurance Program Report, and the remaining approved expenses for completion of report briefings. The contractor will conduct independent assessments of consulting actuary valuations, review compliance with GASB Statements 74 and 75, and provide written reports in PDF format. Travel costs are not anticipated but are limited to $1,200.00 per report if needed. The contract includes provisions for potential extension of up to four years for the Retiree Life Insurance and State Retiree Health Insurance Program components to provide ongoing evidence regarding actuarial calculation accuracy.