"The Role of the Actuary"

Slide 2

The Role of the Actuary

Perform Actuarial Valuation - Purpose

Perform Actuarial Valuation - Process

Perform Actuarial Valuation - Outcome

Participant Services

Actuarial Consulting

Financial Reporting

Forecasting - Asset/Liability Studies

Other Actuarial Services

Slide 12

The Role of an
Investment Management Consultant

Responsibilities

Asset Allocation

Analyzing Risk vs Return

Investment Policy Development

Manager Selection:                    a Dual Focus Process

Investment Manager Due Diligence - Quantitative

Investment Manager Due Diligence - Qualitative

Investment Manager Due Diligence - Qualitative (cont’d)

The Researched List

Manager Search

Performance Measurement

Review
Total Plan Performance
vs.
Customized Index Peer Group

Slide 26

The Role of the
Investment Manager

Equities

Fixed Income

Custodian

Slide 31

The Role of an Accountant

Opinion on the Financial Statements of the Entity

Opinion on the Financial Statements of the Entity (cont’d)

Testing of pension funds

GASB 25: Note Disclosures

GASB 25: Supplementary Information

GASB 27: Note Disclosures

GASB 27: Supplementary Information

Defined Contribution Plan

Municipal Employees Retirement Fund (MERF)

Slide 42

What to look for in a Consultant

Slide 44