2-1. RFQ 27-02 - Actuarial Services.pdf

Request for Quotations

#27-02

For Actuarial Services

For

The Monterey-Salinas Transit District

RFQ #27-02 Schedule

Issue Date: Wednesday, November 4, 2026

Question Submission Deadline: Wednesday, November 18, 2026 at 12:00 P.M.

Deadline to Submit Quotations: Wednesday, December 2, 2026 at 5:00 P.M.

Monterey-Salinas Transit

19 Upper Ragsdale Drive, Suite 200

Monterey, CA 93940

Request for Quotations for

Actuarial Services

For The Monterey-Salinas Transit District

Notice Inviting Quotations

Monterey-Salinas Transit District (MST) is soliciting quotations from qualified consultants to provide actuarial services. The consultant selected will perform actuarial services of MST’s self-insured workers’ compensation and liability programs. Quotes must be uploaded to MST's

Bonfire eProcurement Portal at https://mst.bonfirehub.com/portal/?tab=openOpportunities by

Wednesday, December 2, 2026 at 5:00 p.m. PST. Hard copy submissions of quotations will not be accepted.

The consultant selected will enter into a contract with MST effective January 1, 2027, and shall remain in effect for a period of two (2) years through December 31, 2028. MST shall have the option to extend the contract for two (2) additional two (2) year terms.

It is the responsibility of the proposing firms to check MST's eProcurement Portal for any addenda that may be issued relative to this solicitation. Proposers that accessed any of the solicitation documents for this solicitation will be notified of the issuance of any addenda.

In order to allow for an adequate evaluation, MST requires an offer in response to this solicitation to be valid and irrevocable for ninety (90) days after the quote due date and time. All proposers will be notified of contract award, if an award is made.

If you have any questions related to the procurement process, please contact:

Monterey-Salinas Transit

19 Upper Ragsdale Drive, Suite 200

Monterey, CA 93940

Attention: Steven Bruno, Purchasing Agent

Phone: 831-264-5884

Email: sbruno@mst.org

History and Overview of MST

Monterey-Salinas Transit District (MST) was created by state law AB644 and formed July 1, 2010. MST succeeds Monterey-Salinas Transit Joint Powers Agency formed in 1981 when the City of Salinas joined the Monterey Peninsula Transit Joint Powers Agency which was formed in 1972.

Current members of MST are the Cities of Carmel, Del Rey Oaks, Gonzales, Greenfield, https://mst.bonfirehub.com/portal/?tab=openOpportunities mailto:sbruno@mst.org

King City, Marina, Monterey, Pacific Grove, Salinas, Sand City, Seaside, Soledad, and the

County of Monterey. A board of directors with a representative from each member jurisdiction governs the agency and appoints the General Manager.

MST serves a 159 square-mile area of Monterey County, Northern San Luis Obispo County, and Southern Santa Cruz County. MST’s 36 routes serve an estimated 437,325 population within the County of Monterey.

For more information about MST, log onto http://www.mst.org/.

SOLICITATION TIMELINE

All submissions must be received by MST NO LATER THAN 5:00 P.M. on Friday, October

30, 2026. MST will deem a submission as non-responsive and will not accept a submission past this time. Quotes must be submitted through Monterey-Salinas Transit’s Bonfire eProcurement portal. If you are not already registered, please do so at www.mst.org/procurement and select

“Become a Vendor.”

If you have any questions regarding this solicitation, please submit them via MST’s Bonfire Portal no later than 12:00 P.M. on Wednesday, November 18, 2026. An addendum to this RFQ will be issued answering any questions received by the deadline.

SCOPE OF SERVICES

MST is seeking quotations from qualified Actuaries to provide actuarial services for its self-insured workers’ compensation and liability programs. The goal of the study will be to estimate the outstanding liabilities for the workers' compensation and liability programs and project ultimate losses for the upcoming year. MST requires an actuarial study once every two years.

The scope shown below is for work as of June 30, 2027. The work will provide:

• Estimate Outstanding Losses. Estimate outstanding losses (including allocated loss adjustment expenses [ALAE]) for each fiscal year as of June 30, 2027. The estimated outstanding losses are the cost of unpaid claims. The estimated outstanding losses include case reserves, the development of known claims and IBNR claims. ALAE are the direct expenses for settling specific claims.

Estimated outstanding losses shall be shown on a full-value basis and a discounted basis.

The present value shall reflect future investment income earned on funds held to pay losses.

• Project Ultimate Limited Losses for 2027/28 and 2028/29. The projected ultimate limited losses are the accrual value of losses with accident dates in 2027/28 and 2028/29, regardless of report or payment date. The amounts are limited to the self-insured retention.

The projected future losses will be shown on a full-value basis and a present-value basis.

http://www.mst.org/ http://www.mst.org/procurement

• Project Losses Paid during 2027/28 and 2028/29. The projected losses paid are the claims disbursements during 2027/28 and 2028/29, regardless of accident or report date. The amounts are limited to the self-insured retention.

• Affirm GASB Statement No. 10. Provide a statement affirming the conclusions of this report are consistent with GASB Statement No. 10.

These actuarial services will result in the production of the following deliverable:

The conclusions of the work will be in a written report for MST. The report will be designed to be easily understood by non-actuaries. It will contain a technical section with sufficient information to support all conclusions and facilitate future analysis

ATTACHMENTS

The following attachments are hereby made part of this Invitation for Bids:

Appendix A – Sample Contract

Appendix B – Required Forms

Appendix B.01 – Certification of Responsibility Matters

Appendix B.02 – Federal Tax Delinquency and Conviction Certification

Appendix B.03 – Non-Collusion Affidavit

Appendix B.04 – Proposer’s Statement Regarding Insurance Coverage

Appendix B.05 – RFQ Compliance or Exception

Appendix B.06 – Cost Proposal

SUBMITTAL REQUIREMENTS AND CONSULTANT QUALIFICATIONS

Interested firms shall include the following items in their proposal:

1. Cover letter of interest and transmittal not to exceed two pages in length.

2. Legal name of the consultant firm, address, phone, fax, and email address, year the firm was established, and type of business.

3. A clear articulation of the firm’s approach to be used in this project including a proposed schedule of deliverables.

4. A summary of qualifications, related experience, and references.

5. Proposed project approach and plan to accomplish the work. Describe in detail your firm’s project approach and methodology in managing and implementing a project of this size and scope and experience of developing and supporting the implementation of an actuarial study. Key elements include:

a. Project Understanding

b. Project Methodology and Deliverables

c. Roles and Responsibilities including team bios/resumes

d. Project Management

6. A minimum of three (3) examples of relevant written work, with no less than one example prepared on behalf of a local government organization or comparable entity.

Experience with other public transit agencies is highly desirable.

7. Cost proposal using the Cost Proposal form provided in Appendix B.

EVALUATION AND SELECTION PROCEDURES

A contract may be awarded to the company that can complete the work in a manner that is of best value to MST, taking into account both quality and cost. As this procurement is being conducted as a Request for Quotations, it is anticipated that the contract shall be award to the lowest responsible proposer responsive to the RFQ. Proposers must meet the minimum requirements outlined in this Request for Quotations.

RESPONSIBILITY FOR PROPOSAL PREPARATION

Except as otherwise specifically agreed to in writing by MST, each consulting individual or team submitting proposals shall provide and pay for all materials, labor, transportation, charges, levies, taxes, fees or expenses incurred, including all costs to prepare a response to this RFQ, travel and presentation costs, and all other services and facilities of every nature whatsoever necessary for the preparation of the RFQ.

It is neither MST’s responsibility nor practice to acknowledge receipt of any proposal as a result of the RFQ process. It is the proposer’s responsibility to assure that a proposal is delivered and received in a timely manner.

RIGHTS OF MST

This RFQ does not commit MST to enter into a Contract, nor does it obligate MST to pay for any costs incurred in preparation and submission of proposals or in anticipation of a contract.

MST may investigate the qualifications of any Proposer under consideration, require confirmation of information furnished by the Proposer, and require additional evidence or qualifications to perform the Services described in this RFQ.

MST reserves the right to:

1. Accept or reject any or all proposals at its sole discretion.

2. Cancel this solicitation at any time, for any reason, at its sole discretion.

3. Issue subsequent Request for Quotations.

4. Postpone opening for its own convenience.

5. Remedy technical errors in the Request for Quotations process.

6. Approve or disapprove the use of particular sub contractors.

7. Waive informalities and irregularities in bids to the extent permissible under applicable law.

The proposals received become the exclusive property of MONTEREY-SALINAS TRANSIT

DISTRICT. At such time as a contract award is made by MST, all proposals submitted in response to this RFQ shall become a matter of public record and shall be regarded as public records, with the exception of those elements of each proposal which are trade secrets as the term is defined in California Government Code 6254.7 and which are so marked as “TRADE

SECRET,” “CONFIDENTIAL,” OR “PROPRIETARY.” MONTEREY-SALINAS TRANSIT

DISTRICT shall not in any way be liable or responsible for the disclosure of any such records or portions thereof, including, without limitation, those so marked if disclosure is deemed required by law or by an order of a court. Proposals that indiscriminately identify all or most of the proposal as exempt from disclosure without justification may be found technically unacceptable.