3-RFP B26RFP0008 NCERP Actuarial Services.pdf

REQUEST FOR PROPOSAL NUMBER: B26RFP0008

Actuarial Services For Non-Certificated Employees Retirement Plan (NCERP)

St Louis Community College Department of Purchasing

3221 McKelvey Road Bridgeton, MO 63044

FOR ADDITIONAL INFORMATION, CONTACT:

Purchasing Manager: Brian Kirsch

STLCC.Bonfirehub.com

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TABLE OF CONTENTS

SECTION 1 – OVERVIEW

Instructions to All Bidders ………………………………………………………………………….Page 3

Delivery and Invoicing Information ……………………………………………………………… Page 4

Institutional Background …………………………………………………………………………..Page 4

Mission Statement …………………………………………………………………………………Page 5

RFP Overview ……………………………………………………………………………………...Page 5

SECTION 2 – ADMINISTRATIVE INFORMATION

Schedule of Events …...……………………………………………………………………………Page 6

Evaluation and Award …………..……………………………………………………….….……..Page 7

Evaluation Scale ………..…………………………………………………………….…………….Page 7

SECTION 3 – SCOPE OF WORK

Scope of Work ………...……………………………………………………………………………Page 8

Technical Requirements and Information Requested … …………………………………….. Page 8

Proposal Format ………………..…………………………………………………………………. Page 9

SECTION 4 – REQUIRED DOCUMENTATION ………………….………………….….... Page 10

SECTION 5 – GENERAL TERMS AND CONDITIONS ….………………….…....….…. Page 11

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Actuarial Services For Non-Certificated Employees Retirement Plan (NCERP)

INSTRUCTIONS TO ALL BIDDERS

St. Louis Community College, (“The College”) welcomes all interested parties to participate in its competitive bid process. Bidders will be expected to submit proposals that are in compliance with the requirements as outlined below:

1. All awards are subject to final approval by St. Louis Community College’s Board of Trustees, or their designated representative(s).

2. Proposals must be submitted at https://stlcc.bonfirehub.com. All late bids will be rejected.

3. The successful bidder(s) must comply with the State of Missouri’s Revised Statute RSMO

285.530 which states: No business entity or employer shall knowingly employ, hire for employment, or continue to employ an unauthorized alien to perform work within the state of Missouri. The affidavit included in Attachment A must be completed and notarized to meet this provision. (This may be submitted after the notice of award is given.)

4. All proposals must be signed by a duly authorized representative of the person, partnership or corporation offering the bid. Failure to sign the College Invitation for Bid document will result in automatic disqualification of that bid. The College reserves the right to request written confirmation of persons authorized to sign all bids on behalf of a company.

5. Bidders may submit more than one bid proposal. No penalty or credit will be given for submitting multiple proposals.

6. The General Terms and Conditions (Section 5 of this RFP) should be reflected in the terms proposed by the Bidder and the College intends the General Terms and Conditions to be incorporated by reference into the final contract.

7. Bidders are responsible for reviewing their proposals prior to submission to be certain they can honor all prices and terms offered in the bid. Bidders may submit written amendments or withdraw their bid proposals up until the date and time of the scheduled bid opening. Once bids have been opened, all Bidders will be expected to honor all prices and terms offered in total. Unit prices will prevail in cases of extension errors. Bid defaults will result in either temporary or permanent removal from the College’s list of vendors in good standing.

8. Bidders are expected to respond with responsive information as to each component identified in Section 3 – Scope of Work of this RFP. Responsive information will be relied on by the College in making a bid award and Bidders agree that this information and representations become binding upon acceptance and will be incorporated by reference into a final contract.

9. Requests for clarification on RFP specifications should be addressed to the Purchasing Manager identified in the bid document. Any changes in specifications will be sent to all bidders in the form of a written addendum. All addenda become a part of the Request for Proposal. Bidders are to sign and include all addendums with each bid being submitted.

10. Bidders are to check bonfire at www.stlcc.bonfirehub.com to ensure all addendums are included with the submission of bid responses.

11. Bidders may obtain Bid results from Bonfire or by appointment with the assigned Purchasing Manager.

https://stlcc.bonfirehub.com/ https://mystlcc-my.sharepoint.com/personal/lfurby_stlcc_edu/Documents/Documents/www.stlcc.bonfirehub.com

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DELIVERY AND INVOICING INFORMATION

12. Invoices are preferred to be electronically submitted to: apayable@stlcc.edu

13. If you are unable to submit invoices electronically, please submit invoice by mail to:

Accounts Payable St. Louis Community College 3221 McKelvey Road Bridgeton, MO 63044

Invoices must reference the purchase order number.

14. The College renders payment only after the delivery of services. All payments are issued electronically by Paymode-X net 30 from receipt of invoice.

15. St. Louis Community College is a tax-exempt public institution. The College’s tax-exempt Missouri I.D. is 11166584.

16. Any complaints or grievances concerning or arising out of this RFP shall be submitted in writing to the Procurement Department, St Louis Community College, 3221 McKelvey Rd., Bridgeton, MO, 63044, with a copy to Office of the General Counsel – Legal Services, Corporate Headquarters, 3221 McKelvey Rd., Bridgeton, MO, 63044

17. No Boycott Israel - As required by Mo. Rev. Stat § 34.600, Bidder certifies it is not currently engaged in a boycott of Israel and will not engage in a boycott of Israel during the contract Term.

INSTITUTIONAL BACKGROUND

St. Louis Community College (STLCC) is a premier provider of education and workforce training in the St.

Louis metropolitan area. Since its founding in 1962, more than 1.3 million students have benefited from courses and services offered by the College.

STLCC is the largest community college system in Missouri and the second-largest institution of higher education in Missouri. The college serves an area of more than 700 square miles that includes St. Louis City, St. Louis County, and portions of Franklin and Jefferson counties.

Nearly 50,000 individuals annually enroll in traditional college programs as well as continuing education and performance-enhancing programs sponsored by employers. STLCC’s four campuses – Florissant Valley, Forest Park, Meramec, and Wildwood – are shaped by their urban and suburban communities, and many programs are planned for the needs and special interests of their surrounding areas. STLCC also has education centers in south St. Louis County and north St. Louis City. The STLCC Corporate College in Bridgeton and the Center for Workforce Innovation at Florissant Valley offer programs and services focused on workforce needs. STLCC also offers courses and training in area businesses, industries, and neighborhood and educational sites.

STLCC offers associate degree programs in areas including art, fine arts, science, applied science, and teaching, as well as certificates of proficiency and specialization. In the past seven years, the college has awarded students with more than 14,700 degrees and certificates in programs such as allied health, business administration, general transfer studies, information systems, life sciences, engineering, and technology-related areas. Approximately 1,800 STLCC students annually transfer to Missouri four-year colleges and universities. Nearly 90 percent of all STLCC graduates remain in the region.

mailto:apayable@stlcc.edu

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Through innovative partnerships and state-of-the-art programs, STLCC is a vital element of the local, regional, and state economy. The College has approximately 1,147 full-time and 1,928 part-time employees.

MISSION STATEMENT

Empowering students. Expanding minds. Changing lives.

RFP OVERVIEW

St. Louis Community College (hereinafter referred to as “College”) invites all interested and qualified parties to submit proposals for actuarial services for the Non-Certificated Employees Retirement Plan (hereinafter referred to as “Plan”).

The Board of Trustees of St. Louis Community College established the Non-Certificated Employees Retirement Plan (NCERP) of the Junior College District in 1969. The Plan is a defined benefit retirement plan covering eligible non-certificated employees of the College and is not subject to ERISA.

Certain administrative elements of managing this Plan are currently performed by a third-party administrator in coordination with College staff. The purpose of this Request for Proposal is to obtain proposals from qualified actuarial firms to provide independent actuarial services to support the Plan’s financial reporting, valuation, compliance, and governance requirements.

The selected firm will serve as the Plan’s independent consulting actuary and will provide professional actuarial services relied upon for financial reporting, fiduciary oversight, and institutional decision-making.

The selected firm will work collaboratively with the College, its third-party administrator, auditor, trustee/custodian, investment managers, and other Plan service providers as necessary.

NCERP currently holds approximately $76 million in invested assets. There are approximately 700 active contributing participants and approximately 280 retirees currently receiving monthly benefits. Participant contributions are fixed at 4% of compensation and are matched 100% by the College. Annual contributions total approximately $1.2 million, and annual benefit payments total approximately $3.4 million.

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SECTION 2 – ADMINISTRATIVE INFORMATION

RFP AGENDA/SCHEDULE

RFP Issued by STLCC (03/02/2026 at 5:00pm)

Last Date for Vendor to Submit Questions (03/06/2026 at 5:00pm)

Vendor RFP Submission Due Date (03/13/2026 at 5:00pm)

RFP Evaluation by STLCC Due By (03/20/2026 at 5:00PM)

Finalist Selected (TBD)

Board of Trustees Review (TBD)

Bid Award (TBD)

Contract/Implementation Start Date (TBD)

These dates are provided to help potential respondents understand the bid and implementation process;

however, dates are subject to change.

Contract Duration Period

3 Years

Inquiries

(Submit all inquiries to the “Bonfire Website” Subject Heading Should be addressed “RFP# B26RFO0008 Question”)

Please do not contact any college administrator or Board member during the RFP timeline stated above.

If there is a significant change to this schedule, an addendum will be issued via bonfire to announce the change.

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Evaluation and Award

The proposals received will be reviewed by an evaluation team, using the following criteria. Proposals that do not meet the minimum requirements specified may be rejected. After evaluating the proposals submitted, STLCC may request additional information. STLCC will evaluate the proposals and will select the respondents which meets the best interests of the college. STLCC shall be the sole judge of its own best interests, the proposals, and the resulting negotiated agreement.

Proposals will be evaluated against several criteria:

Evaluation Scale

Criteria

Type of

Rating

• Expertise of firm and team members 30%

• Cost/Finance/Pricing Model 30%

• Meet Desired Qualifications 40%

Total 100%

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Actuarial Services For Non-Certificated Employees Retirement Plan (NCERP)

SECTION 3

SCOPE OF WORK

The College seeks a qualified actuarial partner capable of providing independent actuarial expertise while operating efficiently within an established administrative structure. Required actuarial services are expected to include, at minimum, the following professional functions:

Annual Valuation and Financial Reporting

• Actuarial valuation of liabilities and contribution requirements

• Preparation of formal actuarial valuation reports

• Compliance with applicable actuarial standards and governmental accounting requirements

• Preparation of GASB-compliant financial disclosures and reporting information

• Support of external auditors, including responses to actuarial questions and documentation requests

Assumption Review and Experience Monitoring

• Annual experience review sufficient to evaluate actuarial assumption reasonableness

• Professional advice regarding selection, adjustment, and appropriateness of actuarial assumptions

Governance and Advisory Support (as requested)

• Attendance at Retirement Committee meetings when requested

• Presentation of actuarial results or analysis to governing bodies when requested

• Consultation regarding potential plan design changes or policy considerations Data Validation and Integrity

• Reasonableness testing of valuation data

• Reconciliation of participant data used for valuation purposes against prior valuation data and administrator reports

ACTUARIAL SERVICE & SUPPORT QUESTIONS

1. Describe your firm’s process for delivering annual actuarial valuations, including timelines, review procedures, and quality control measures.

2. Describe how your firm ensures accuracy and independence when performing valuations for plans where you may also provide administrative or related services.

3. Identify the credentials, experience, and roles of the actuaries who would be assigned to this engagement.

4. Describe your firm’s process for communicating actuarial results to non-technical audiences such as governing boards or executive leadership.

5. Describe typical turnaround times for:

o valuation questions o audit requests o assumption analysis requests o ad-hoc consulting

6. Describe your firm’s internal peer review process for actuarial work products.

7. Provide examples of how your firm has identified risks, errors, or opportunities for improvement in plans similar to NCERP.

8. Describe your firm’s data validation methodology and how discrepancies are handled.

9. Describe your firm’s approach to assumption review and recommendation.

10. Describe your firm’s escalation process if material concerns are identified during valuation work.

These services are required because financial reporting and audit reliance necessitate independent actuarial analysis performed by credentialed professionals. The College intends for actuarial services to remain functionally independent from administrative services, even if provided by the same firm.

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Proposals should therefore clearly describe internal controls, professional standards, and separation of duties used to ensure independence of actuarial opinions and work products.

The College seeks a partner that demonstrates strong technical expertise, adherence to professional standards, responsiveness, and the ability to communicate complex actuarial concepts clearly to institutional leadership.

PRIVACY AND COMPLIANCE DOCUMENTATION

1. Please provide your most recent Attestation of Compliance (AOC) completed by a Qualified Security Assessor (QSA). – if applicable.

2. Please attach a copy or reference to your privacy policy with respect to customer data.

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SECTION 4 Required Documentation Submittals

A). Certificate of Insurance

B). Affidavit

C). Proposal

D). No Israel Boycott Form

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SECTION 5 – GENERAL TERMS AND CONDITIONS

1. CONTRACT PERIOD

The contract shall not bind, nor purport to bind, the College for any contractual commitment in excess of the original contract period, which shall be determined and set forth in a final contract.

2. REVISIONS TO THE SCOPE OF WORK

In the event the Scope of Work is revised, additional compensation shall be considered and negotiated at that time. The College may request other professional services not included in the proposal and may negotiate the related fees for such services.

3. COORDINATION OF ACTIVITIES

The Contractor shall fully coordinate its activities in the performance of the contract with those of the College. As the work of the Contractor progresses, advice and information on matters covered by the contract shall be made available by the Contractor throughout the effective period of the contract.

4. CONFIDENTIALITY

Inasmuch as under the contract, the Contractor may acquire confidential information, and the Contractor agrees to keep such information confidential. It is further understood and agreed that this obligation to keep such information confidential shall continue at all times beyond the completion of the contracted work.

Notwithstanding any other provision to the contrary, the College is a public entity and may be required to produce a copy of the contract in response to a request under Missouri’s open records law without prior notice (Mo. Rev. Stat. Chapter 610).

5. INDEPENDENT CONTRACTOR STATUS

The Contractor represents itself to be an independent contractor offering such services to the general public and shall not represent itself or its employees to be employed by the College. The sole relationship with the Contractor is as established by this contract. The Contractor is responsible for filing all returns and paying all taxes, FICA, employee fringe benefits, worker's compensation, employee insurance, minimum wage requirements, overtime, etc., associated with the performance of the contractual requirements herein, and agrees to indemnify, save and hold the College, its officers, agents, and employees, harmless from and against, any and all losses, costs, attorney fees, and damage of any kind related to such matters. Upon request, the Contractor will provide evidence of compliance with these requirements.

6. FURNISHING MATERIALS

Unless otherwise specified herein, the Contractor shall be responsible for furnishing all material, labor, facilities, equipment, and supplies necessary to perform the services required herein.

7. DEVELOPMENT OF MATERIAL

The Contractor shall agree and understand that all reports and material developed or acquired by the Contractor as a direct requirement specified in the contract shall become the property of the College. No reports or materials prepared, as required by the contract, shall be released to the public without the prior written consent of the College.

8. REPLACEMENT AND/OR SUBSTITUTION OF PERSONNEL

The College reserves the right to have the Contractor immediately remove or replace personnel whose performance the College determines to be unsatisfactory. There shall be no charge to the College for the

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Contractor’s replacement of such personnel while under contract with the College. The Contractor agrees and understands that the College’s agreement to the contract is predicated, in part and among other considerations, on the utilization of the specific individual(s) and/or personnel qualification(s) as identified and/or described in the Contractor’s proposal. Therefore, the Contractor agrees that no substitution of such specific individuals shall be made without the prior written notification to the College. The Contractor further agrees that any substitution made pursuant to this paragraph must be equal to or better than originally proposed and that the notification of a substitution shall not be construed as an acceptance by the College.

9. NON-EXCLUSIVE CONTRACT

The Contractor agrees and understands that the contract shall not be construed as an exclusive arrangement and further agrees that the College may secure identical and/or similar services from other sources at any time in conjunction with or in replacement of the Contractor’s services.

10. CLARIFICATION OF CONTRACT

The College reserves the right to clarify any contractual relationship in writing with the concurrence of the Contractor, and such written clarification shall govern in case of conflict with the applicable requirements stated in the Request for Proposal or the Contractor’s proposal. In all other matters not affected by the written clarification, if any, the executed Services Contract/Agreement shall govern.

11. FORCE MAJEURE

Neither party shall be liable for delays or defaults in the performance of this Contract due to Acts of God or the public enemy, riots, strikes, fires, explosions, accidents, Governmental action, or any other causes of a similar character beyond its control and without its fault or negligence.

12. GOVERNING LAW

This contract shall be construed according to Missouri law, which is interpreted without regard to its conflicts of laws principles.

13. BANKRUPTCY OR INSOLVENCY

In the event of proceedings by or against either party, voluntary or involuntary, in bankruptcy or insolvency, or for the appointment of a receiver or trustee or an assignee for the benefit of creditors of the property of the Contractor, the College may cancel this Contract or affirm the Contract and hold the Contractor responsible in damages.

14. CONTRACTOR INSURANCE/INDEMNIFICATION

I. The Contractor shall pay for and maintain until all work is completed, such insurance as will protect it and the College from claims under Workers’ Compensation Acts, Workers’ Occupational Disease Acts, and from any other claims for damages to property or for bodily injury, including death, which may arise from operations under this agreement whether such operation be by himself or any sub-contractor or anyone directly or indirectly employed by either of them. Such insurance shall cover all contractual obligations, which the Contractor has assumed including the “Hold Harmless Agreement”. This provision shall state the Contractor agrees to indemnify and save harmless the College and its agents and employees from and against all claims for injury to person or damage to property arising from his work or work performed by any of his sub-contractors or their employees.

II. The following insurance shall be taken out and maintained at the Contractor’s expense:

A. Workers’ Compensation and Occupational Diseases shall have statutory limits.

B. Employers’ Liability shall be in an amount not less than $500,000.

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C. Comprehensive General Liability: $1,000,000 per occurrence/$3,000,000 annual aggregate including bodily injury and property damage liability, independent contractors’ liability, contractual liability, product liability, and completed operations liability. Contractual Liability coverage including the “Hold Harmless Agreement” must be fully insured under this policy for the liability limits set forth above.

Contractor’s Protective Liability coverage must be included for the liability limits set forth above.

The Contractor’s Comprehensive General Liability Insurance shall include and provide:

1. Coverage for bodily injury and/or property damage on an occurrence” basis with an approved definition.

2. A broad form of property damage endorsement.

3. Completed operations liability.

4. If applicable to work under this agreement, the Contractor shall provide proper endorsements to cover property damage liability normally excluded under insurance code numbers bearing the symbols “X”, and/or “C” and/or “U”.

5. St. Louis Community College (and the College's officers, agents, and employees) shall be named as additional insured as it pertains to work done/service provided/product delivered to the College.

6. provide 30-day notice of cancellation/non-renewal of coverage to the College; Insurance must be primary as to any other valid and collectible insurance

D. Comprehensive Automobile Liability Insurance: $1,000,000 per accident for bodily injury and property damage. This insurance must include non-owned, hired, or rented vehicles as well as owned vehicles.

E. Professional Liability (if Contractor has a professional designation or license and/or is providing professional services) $1,000,000 per occurrence/$3,000,000 annual aggregate.

F. Cyber Risk/Data Loss (if Contractor or a third party using, storing or accessing private confidential or protected information: $1,000,000 per occurrence/$3,000,000 annual aggregate.

III. The Contractor shall maintain at its expense all insurance required to protecting his employees and his operations fully while on the College’s property including Workers’ Compensation, Employees’ Liability, Comprehensive General Liability, and Comprehensive Vehicle Liability Insurance. Vendor shall provide copies of the Certificate of Insurance to the College naming the College as co-insured after the award of the agreement.

15. TAXES

The Contractor shall take into account that the College, a government subdivision, is exempt from most state and federal taxes. (Tax Exemption No. 11166584)

16. PAYMENTS

The Contractor shall submit invoice(s) upon completion of the work each month. The College shall make payment within (30) days of receipt of the invoice.

17. PAYMENTS WITHHELD

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The College shall have the right to hold or delay payments if the Contractor fails to complete work for the month within the scheduled time limits and/or the Contractor’s work is unsatisfactory or incomplete for a particular period.

18. CANCELLATION

Either party may terminate this agreement if agreed to by giving the other party fourteen (14) day’s prior written notice.

19. COLLEGE LIABILITY

The College shall not be liable for any injury to any employee of the Contractor while said employee shall be performing work pursuant to the agreement, and the Contractor hereby indemnifies the College and agrees to hold it harmless from any and all claims made by any employee who may be injured on the College’s property by any cause to the extent attributable to the Contractor’s negligence and from all costs arising from such claim or claims including court costs and reasonable attorney’s fees.

The College is a political subdivision of the State of Missouri and Missouri law on sovereign immunity applies to the College. Nothing in the Services Contract/Agreement is intended to or will be interpreted to abrogate the College’s rights to sovereign immunity under applicable law.

20. SAFETY

It will be the responsibility of this Contractor to initiate, maintain, and supervise all safety precautions and programs in connection with the work. This includes compliance with all applicable laws, ordinances, rules, regulations, and lawful orders of any public authority for the safety of persons or property.

21. COMPLIANCE WITH APPLICABLE LAWS

The Contractor warrants it has complied with all applicable laws, rules, and ordinances of the United States, or any state, municipal governmental authority, or agency in providing the services covered by this Contract, including, but not limited to, the Fair Labor Standards Act of 1938 as amended.

22. NON-DISCRIMINATION IN EMPLOYMENT

In connection with the furnishing of supplies or performance of work under this Contract, the Contractor agrees to comply with the Fair Labor Standard Act, Fair Employment Practices Act, Equal Opportunity Employment Act, Americans With Disabilities Act Amendment Act, and all other applicable Federal and State laws and further agrees to insert the foregoing provision in all subcontracts awarded hereunder.

23. ASSIGNMENT OF AGREEMENT

The agreement shall not be assignable by the Contractor in whole or in part without the written consent of the College.

24. NOTICE AND SERVICE THEREOF

Any notice to the Contractor from the College relative to any part of this Contract will be in writing and considered delivered and the service thereof completed when said notice is posted, by certified, or regular mail, to the Contractor at his last given address, or delivered in person to the Contractor or his authorized representative.

25. COMPLETE AGREEMENT

The Contract expresses the complete agreement of the parties. Any changes, additions or modifications hereto must be in writing and signed by both parties.