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Fund Actuary (Request For Proposal)

Description: Fund actuary: Certify loss reserves, reserves for “Incurred But Not Reported” (IBNR) losses and unearned assessments. Provide expected incurred losses by LOB and calendar month for the six months following an IBNR reserve report Certify the actuarial soundness of the FUND and report to the FUND's Executive Committee in a manner prescribed by them, no later than five (5) working days after receipt of the finalized June 30 and December 31 Auditor's Statements.

Buyer: The Garden State Municipal Joint Insurance Fund ("GSMJIF"), NIP Group, Inc.
SpecialDistrict · NJ, US
Released: Oct 8, 2026
Closes: Nov 6, 2026(27 days left)

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The Public Entity Joint Insurance Fund

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Oct 8, 2026

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Nov 6, 2026

Fund Actuary (Request For Proposal)

Fund Actuary: Certify loss reserves, reserves for “Incurred But Not Reported” (IBNR) losses and unearned assessments. Provide expected incurred losses by LOB and calendar month for the six months following an IBNR reserve report. Certify the actuarial soundness of the FUND and report to the FUND’s Executive Committee in a manner prescribed by them, no later than five (5) working days after receipt of the finalized June 30 and December 31 Auditor’s Statements. Promulgate the loss funding rates for the upcoming FUND year by line of coverage. Computations must be submitted to the FUND’s Executive Director/Administrator by September 1 of the current FUND Year.

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Fund administrator: 1. Prepare a coverage manual detailing all lines of insurance coverage provided by the Fund to Member municipalities (whether insured, self-insured or reinsured) as required by the Fund’s risk management plan. Upon adoption, copies of the coverage manual will be provided for distribution to Fund Members, their risk management consultant, and to each of the professionals and other service companies retained by the Fund. It is expressly understood and agreed to by the Administrator that the coverage manual is and shall remain the property of the Fund. 2. Prepare renewal underwriting surveys and/or questionnaires for distribution to Member municipalities; secure such surveys from the Member municipalities and compile the information and exposure data in a consolidated report by Member. Prepare a summary of updated exposure data for each member and verify the accuracy of the data with the risk management consultant. See attached file.

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Posted

Oct 8, 2026

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Fund Treasurer (Request For Proposal)

Fund Treasurer: A. Deposit all receipts in bank accounts within 48 hours of receiving same. B. Review all expense payment vouchers, checks and receipts prior to presentation of the bills’ list to the Executive Committee. C. Sign and distribute all expense payment checks. D. Fund claim impress accounts in amounts requested by claims administrators. E. Compare claims administrator and treasurer records of claim payments, recoveries, voids, and adjustments and report variances to the claims administrator and Executive Director/Administrator. F. Reconcile all checking and investment accounts prior to submittal of monthly reports to the Executive Committee and Executive Director/Administrator. Submit a monthly report of cash and investment activity to the Executive Committee in a format acceptable to it. See attached file.