120961 O5 FinalEvaluationDocument.pdf

This is a Final Evaluation Document for RFP Number 120961 O5 for Actuarial Services issued by the Nebraska Department of Administrative Services, State Purchasing Bureau. The RFP seeks comprehensive actuarial consulting services for the Nebraska Public Employees Retirement Systems (NPERS), covering six retirement systems and one deferred compensation plan serving approximately 180,000 plan members with assets of around $21 billion. The solicitation requires annual valuations, GASB compliance services, projection services, actuarial experience studies, and benefit adequacy studies, with specific deliverables including five-year and thirty-year contribution projections and interactive modeling software. The response deadline is March 21, 2025 at 2:00 PM Central Time, with an initial contract term of three years and two optional three-year renewal periods. The awarded vendor must begin services by July 1, 2025, and attend approximately 15 in-person business days of meetings annually in Lincoln.

The evaluation document reveals four bidders were evaluated: Cavanaugh MacDonald Consulting, Gabriel, Roeder, Smith & Company, Milliman, Inc., and The Segal Company. The evaluation criteria included Corporate Overview (25 possible points), Technical Approach (65 possible points), and Cost Proposal (10 possible points), with a total possible score of 100 points. Cavanaugh MacDonald Consulting ranked first with 96.87 total points, followed by Milliman (95.16 points), Gabriel, Roeder, Smith & Company (94.85 points), and The Segal Company (93.93 points). The document indicates a comprehensive scoring process that considered multiple aspects of each vendor's proposal, with significant weight placed on technical capabilities and approach.