Actuarial Review of the Supplemental Retirement Plan

Draft at 30 working days, committed

The Government confirmed in its published answers that the draft Survey Report is due within 90 days of award and may be extended. We commit to 30 working days, roughly half that, with our two dependencies stated in the open: complete data within 10 working days of award, and assumption-basis approval within 10 working days of our memo. Each day of dependency delay extends delivery day for day; the RFQ's 60-day requirement stays the outer bound. The float from day 30 to day 60 belongs to the Government's calendar, not to our analysis.

Priced under the Government's own record

The Embassy has purchased this identical review before, and those awards are public record. Our quotation is priced beneath the Government's most recent purchase, firm fixed price, in euros. The method that makes the price possible is this site: the analytical plant was built before award, runs in your browser, and can be inspected before a dollar is committed.

Serge Tubeeckx signs the certification

The certifying actuary is Serge Tubeeckx, resident and practising in Belgium and a member of the Institute of Actuaries in Belgium, as the Government requires in answer to Question 11. He has held the actuarial key function for five of the largest Belgian pension funds, together carrying roughly EUR 3 billion, three of them predominantly defined benefit, and performed the actuarial control of the pension plan of the Belgian federal parliament. He brings Belgian pension-law judgment on the financing and minimum-return rules and the Law of 18 December 2015, and in-person availability at post for kickoff, data sessions and briefings. Local authority, not a fly-in signature.

Assumptions & IAS 19 Valuation

Recommend assumptions to the CORs and the CGFS Comptroller, then measure the defined benefit obligation and funded position under IAS 19.

Financial & Investment Audit

Verify contributions, credited interest, benefit payments, and fees against the plan terms; assess asset growth against market experience.

Sensitivity & Sustainability

Stress the valuation on the assumptions that matter, conclude on surplus or deficit, and identify the threats to solvency together with the measures that address them.

Belgian Law Compliance

Test the plan against Belgian defined benefit legislation, including every change introduced by the Law of 18 December 2015.

Assumption baseline: LIVE

Euro IAS 19 discount rates (4.28% to 4.63% by duration, as of 7/31/2026), Belgian health-index forecast (+2.9%), IA|BE 2020 mortality basis, statutory retirement ages, and the 2.50% guaranteed-return regime, each with its public source.

Valuation engine: RUNNING

A projected-unit-credit engine values a 167-member synthetic demonstration plan in your browser: obligation, service cost, duration, funded position, liability cash flows, and a full sensitivity tornado. Swap in the real census at award and the machine is already built.

Conformity audit: RUNNING

A demonstration ledger with generation-tracked guaranteed interest (1.75% pre-2025, 2.50% after) and automated checks that catch two seeded discrepancies, exactly the Task (c) test the Embassy is buying.

The test that governs this plan is minimum financing

For a Belgian defined benefit plan, solvency is tested on each member’s vested rights at the calculation date, discounted at 6 per cent using the MR/FR mortality tables. That is a different test from the minimum return credited to contributions, which reaches the personal contributions in a plan of this kind. They answer different questions, and we answer both.

Where a plan is financed by level annual premiums the requirement is usually met, because insurers price below the legal 6 per cent. Deficits cluster above age 55, and Belgian law requires those to be financed collectively through the financing fund. Whether that has been done here is our first question to the insurer.

The report, specified before award

The RFQ lists twelve elements the Survey Report must contain. We have laid out the document that delivers them, built on the architecture published government actuarial valuations actually use, with every RFQ element mapped to a section so acceptance review is a checklist rather than a search.

Maurice W. House

Co-Founder and CEO of House Strategies Group and a retired U.S. Senior Foreign Service Officer whose 38-year career reached Minister Counselor, the senior career rank of the Foreign Service. Maurice served four years in Brussels as Minister Counselor at the U.S. Mission to the European Union (2010-2014), with earlier tours in Algiers, Lagos, Islamabad, Bangkok, and Beijing. In Washington he served as Deputy Administrator of USDA's Office of Global Analysis, leading 75 economists and analysts responsible for the U.S. Government's international agricultural economic analysis. He knows the management platform this plan serves from the inside: post administration, ICASS, and the locally employed staff who make a Mission run.

Gilda T. Weech-House

HSG's classification and compensation lead, a former HR director, and a career federal human resources professional specializing in Foreign Service position classification. Gilda served at the U.S. Embassy Paris during the same period as Maurice's Brussels posting, and today directs HSG's classification and compensation practice, including senior classification advisory for USDA overseas workforce engagements prepared to Department of State standards. Local compensation plans, LE-staff benefits structures, and post HR mechanics are her home ground, which is exactly the context in which this retirement plan lives.

Jelani House

Founder and Managing Director. Twenty years of federal financial services consulting, including sixteen continuous years supporting HUD's Office of Asset Sales and portfolio, securitization, and capital markets analytics for Ginnie Mae, where he authored the agency's Global Market Analysis Report. Jelani directs the financial audit, investment performance review, and valuation modeling on this engagement, and serves as the Embassy's English-fluent project manager and single point of contact.

Serge Tubeeckx

The Actuarial Certification is signed by Serge Tubeeckx, an IA|BE credentialed actuary resident and practising in Belgium, named with his consent in our quotation, who presents the work in person at post. Thirty-five years in Belgian employee benefits, author of the actuarial function library used in the Belgian market for these calculations, and twenty years teaching actuarial science at the Vrije Universiteit Brussel. His practice is the review, control and certification of actuarial calculations prepared by others. House Strategies Group took and completed independent professional references on him before engaging him, not after. Production valuations use the official IA|BE 2020 prospective mortality tables and a documented, CGFS-approved assumption set; this portal’s engine is the demonstration of that machinery.