120961 O5 SOLICITATION LIST OF RESPONDENTS.pdf

The document is an SPB Form 34 Solicitation List of Respondents for Request for Proposal (RFP) 120961 O5 issued by the Nebraska Department of Administrative Services, State Purchasing Bureau for Actuarial Services. The solicitation opening date is March 21, 2025, and four firms submitted responses: Cavanaugh MacDonald Consulting, LLC (CavMac), Gabriel, Roeder, Smith & Company, Milliman, Inc., and The Segal Company (Midwest), Inc. The RFP seeks comprehensive actuarial consulting services for six retirement systems and one deferred compensation plan, covering approximately 180,000 plan members with assets totaling around $21 billion. Required services include annual asset and liability valuations, GASB compliance, projection services, actuarial experience studies, and benefit adequacy studies.

The procurement requires vendors to have at least three public pension fund clients by December 31, 2024, five years of organizational experience, and a lead consultant with ten years of public pension fund actuarial consulting experience. The initial contract term is three years with two optional three-year renewal periods, with services to commence by July 1, 2025. Bidders must have professional staff with at least five years of actuarial science experience and appropriate credentials, such as Fellow or Associate of Society of Actuaries. The lead consultant must be a member of the American Academy of Actuaries with experience testifying before legislative and administrative bodies. While no specific budget range is disclosed, the comprehensive scope suggests a substantial contract value, and all proposed costs must be all-inclusive, covering travel, meetings, and other expenses.