North Dakota Teachers’ Fund For Retirement (TFFR) Board of Trustees has selected Gabriel, Roeder, Smith & Company (GRS) as its new pension fund actuary.
“Gabriel, Roeder, Smith & Company will provide consultant services to the Teachers’ Fund For Retirement program, helping the board and our staff assess and make informed decisions regarding the health of the fund,” said Jan Murtha, Retirement & Investment Office’s (RIO) executive director.
Pension actuaries analyze data to identify patterns and trends which aid in the assessment of risks and facilitate prudent financial planning for retirement systems.
“We are honored to have been selected by the Teachers’ Fund For Retirement Board of Trustees to serve as their actuary. Gabriel, Roeder, Smith & Company will serve North Dakota’s teachers using one of the best client service teams in the industry,” said Judith Kermans, GRS’s CEO and president.
A nationally recognized leader in the actuarial and benefits consulting industry, GRS was awarded a contract for actuarial and consulting services including annual pension valuations, financial reports (i.e., GASB 67 and 68 statements), annual plan management policy score updates, and an actuarial experience study. GRS’s start date is July 1, 2023.
The TFFR board oversees the retirement program for North Dakota public school educators. TFFR’s pension benefit administration and investment services are administered by RIO. The agency does not expect the transition to the new actuarial service provider to interrupt any services.
More than 24,000 educators participate in TFFR’s retirement program. The majority are active members employed by public schools and state institutions.
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