Actuarial_Services_(Addendum_#2_Revision).pdf

Mayor Chief Procurement Officer Buddy Dyer David Billingsley, CPSM, C.P.M.

REQUEST FOR PROPOSAL (RFP)

RFP25-0426

ACTUARIAL SERVICES

The City of Orlando Procurement and Contracts Division has implemented an electronic bidding system to streamline solicitation responses.

CITY OF ORLANDO PROCUREMENT AND CONTRACTS SITE

https://www.orlando.gov/Our-Government/Departments-Offices/OBFS/Procurement

City of Orlando

REQUEST FOR PROPOSAL (RFP)

ACTUARIAL SERVICES

TABLE OF CONTENTS

1. INTRODUCTION

2. REQUEST FOR PROPOSALS INFORMATION

3. TERM OF CONTRACT

4. SCOPE OF WORK AND TECHNICAL REQUIREMENTS

5. PRE-PROPOSAL CONFERENCE

6. PROPOSAL DUE DATE AND TIME

7. PROPOSAL PREPARATION AND FORMAT

8. REQUIRED PROPOSAL SUBMITTALS

9. DELIVERY OF PROPOSALS

10. CONFORMANCE TO SOLICITATION

11. EVALUATION CRITERIA

12. PROPOSAL ADVISORY COMMITTEE AND EVALUATION PROCESS

13. GENERAL TERMS AND CONDITIONS

14. ADDITIONAL INFORMATION

15. ADDENDUM TO REQUEST FOR PROPOSALS

16. APPLICABLE LAW AND APPEALS

17. CONTRACT

18. EXECUTION OF CONTRACT

19. AFFILIATED AGENCIES

20. EMPLOYMENT ELIGIBILITY; E-VERIFY SYSTEM

21. RIGHT TO AUDIT RECORDS

22. FISCAL YEAR FUNDING APPROPRIATION

23. PUBLIC ENTITY CRIMES

24. PROMPT PAYMENT ACT

25. INVOICES

26. DISPUTE RESOLUTION

27. PROPOSER'S GUARANTEE

28. INSURANCE / PERFORMANCE BONDS

29. FLORIDA SALES TAX

30. DRUG-FREE WORKPLACE CERTIFICATION

31. AMERICANS WITH DISABILITIES ACT

32. RECIPROCAL LOCAL PREFERENCE

33. PURCHASING CONTRACTS W/ OTHER GOVERNMENT AGENCIES

34. FOREIGN CORPORATION

35. SUBCONTRACTORS

36. PURCHASING CARD PROGRAM

Actuarial Services

37. LIVING WAGE POLICY

38. PROHIBITION - CONTRACTING WITH SCRUTINIZED COMPANIES

39. SOFTWARE LICENSES

40. NON-DISCRIMINATION

41. GOVERNING LAW / VENUE

42. RECOVERED MATERIALS

43. PROHIBITION AGAINST CONSIDERING SOCIAL, POLITICAL, OR

IDELOGICAL INTEREST IN GOVERNMENT CONTRACTING

44. VENDOR QUESTIONNAIRE

45. PRICING PROPOSAL

Attachments:

A - EXHIBIT 1 -CONTRACT

B - EXHIBIT 2 - Orlando General Valuation

C - EXHIBIT 3 - OPEB Valuation

1. INTRODUCTION

1.1. Summary

The City of Orlando’s Procurement and Contracts Division, is soliciting proposals for professional actuarial services for the City of Orlando General Employees’ Pension Plan by the General Employees’ Pension Board (hereinafter referred to as the "Board") and the City of Orlando (hereinafter referred to as the “City”) for valuation services related to accrued employee benefits. This Request for Proposal is NOT being conducted for the

City’s Police Officers or Firefighters’ Pension Plans. The valuation services contemplated for the City involve determining costs and alternative funding strategies for post-retirement health care benefits. The services for the Orlando General Employees’

Pension Plan, as well as the City, should each be considered a separate engagement. The preference is that the Board and the City be served by one (1) actuarial consultant or firm, but the right is reserved to hire two consultants. Therefore, we request that separate quotes be provided for each engagement. Additional information regarding the City’s Annual Comprehensive Financial Report (ACFR) can be found via the website https://www.orlando.gov/Our-Government/Records-and-Documents/Financial/Annual-

Comprehensive-Financial-Report and pages referenced in Exhibit “2,” Orlando General

Valuation and Exhibit "3", OPEB Valuation, for ACFR REFERENCES.

1.2. Background

The City of Orlando is located in the approximate center of the State of Florida and is a

138 square mile area that covers a total of 76,160 acres. With its central location in the region and the State, Orlando is easily accessible from Interstate 4, Florida Turnpike, East/West Expressway and the Beachline Expressway.

The Mission of the City of Orlando is to "Enhance the quality of life in the City by delivering public services in a knowledgeable, responsive and financially responsible manner."

1.3. Contact Information

Direct inquiries to the following:

Tara Urdininea

CPP, Purchasing Agent II

400 South Orange Avenue

Orlando, FL 32801

Email: tara.urdininea@orlando.gov

Phone: (407) 246-2368

Department:

Treasury

1.4. Timeline

The following is the scheduled calendar of events with important dates and times. Dates are subject to change by the Chief Procurement Officer (“CPO”) of the Procurement and https://www.orlando.gov/Our-Government/Records-and-Documents/Financial/Annual-Comprehensive-Financial-Report https://www.orlando.gov/Our-Government/Records-and-Documents/Financial/Annual-Comprehensive-Financial-Report mailto:tara.urdininea@orlando.gov tel:(407)246-2368

Contracts Division or designee, at their sole discretion. If the Procurement and Contracts

Division determines that it is necessary to change these dates or times prior to the

Proposal due date, the change will be announced via an addendum.

Release Project Date July 16, 2025

Question Submission Deadline August 8, 2025, 5:00pm

Proposal Submission Deadline August 22, 2025, 2:00pm

JOIN THE VIRTUAL PROPOSAL

OPENING.

Online:https:https://teams.microsoft.com/l/ meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcy

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Or, call into the virtual meeting by dialing this phone number: +1 321-247-7568

Once dialed-in and prompted, enter the

Conference ID: 217 434 056 277

Passcode: mE7Sn9oE

2. REQUEST FOR PROPOSALS INFORMATION

The Procurement and Contracts Division is the official source to obtain information relating to City of Orlando solicitations. It is incumbent on the Proposer to obtain solicitation and current award information prior to and after the scheduled opening date of a Request for Proposals. Information is updated daily as it becomes available. An award, or recommendation of award, may be made at any time after the scheduled opening date of a Request for Proposals. You may obtain award and other solicitation information in a variety of ways:

A. There are currently two Internet sites available to obtain RFP Selection

Committee rankings, Notice of Intended Action for award and other information:

1. The City of Orlando Procurement and Contracts Division’s Website:

http://www.orlando.gov/procurement/solicitations/ If you are interested in obtaining solicitation information, copy and paste the above link into your web https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDE4YTA1ZTYtMjcyMi00ZGI5LWFkYmEtNmNhZmVmYjFjZTA1%40thread.v2/0?context=%7b%22Tid%22%3a%227594da9b-294b-4acf-913b-d159ae921564%22%2c%22Oid%22%3a%2267b536ad-34cb-46e2-afe9-a0f9f437bd65%22%7d http://www.orlando.gov/procurement/solicitations/ browser and click on View Current Bids. Please remember that you must keep your registration information up to date in order to continue to receive notifications of bidding opportunities that meet your commodity code selections.

2. Direct link to the City's e-Procurement Portal:

https://procurement.opengov.com/portal/orlando.

B. You may visit the Procurement and Contracts Division, during normal business hours, to obtain award information, solicitation packages, addendums, and other documents. Our office is located at:

City of Orlando

Procurement and Contracts Division

400 South Orange Avenue, Fourth Floor

Orlando, Florida 32801

You may also call the Procurement and Contracts Division at (407) 246-2291, during normal business hours, to request award and other solicitation related information.

We appreciate your interest in doing business with the City Beautiful and wish you much success with your business ventures.

3. TERM OF CONTRACT

It is the intent of the City is to award a Contract for a five (5) year term to begin upon approval and execution by the City. The Contract may, by mutual assent of the parties, be extended for four (4) additional twelve (12) month periods or portions thereof, up to a cumulative total of one hundred eight (108) months.

4. SCOPE OF WORK AND TECHNICAL REQUIREMENTS

4.1. PENSION BOARD

As set forth in this RFP, the Contractor shall conform to the scope of services and technical requirements as set forth herein. Services to be provided by the Contractor shall include, but not be limited to, the following:

A. Preparation of three (3) annual actuarial reports as of the end of the City's fiscal year (September 30) for the City’s General Employees’ Pension Plan (DB

Plan). These reports shall provide sufficient information and comply with both the existing accounting and actuarial guidelines as they relate to the DB

Plan. Required reports include:

https://procurement.opengov.com/portal/orlando

1. Actuarial Valuation Report. This report shall describe the current actuarial condition of the DB Plan, determine the Actuarially Determined Contribution, report the Unfunded Actuarial Accrued Liability, and include and report on other pertinent information regarding the DB Plan and participant data.

2. Governmental Accounting Standards Board (GASB) Statement No. 67

Financial Reporting for Pension Plans – an Amendment of GASB Statement

No. 25 (GASB 67) information necessary for the City to complete its Annual

Comprehensive Financial Report (ACFR).

3. GASB Statement No. 68 Accounting and Financial Reporting for Pensions – an Amendment of GASB Statement No. 27 (GASB 68) information necessary for the City to complete its ACFR.

4. Deadlines for these reports are as follows and shall follow the same timing for each subsequent fiscal year under the Contract period:

a. GASB 67 Report: February 1st after fiscal year end

b. GASB 68 Report: June 1st after fiscal year end

c. Valuation Report: April 1st after fiscal year end

B. Complete the Chapter 112.664 Florida Statutes Compliance Report and upload required actuarial information to the Florida Department of Management Services website, or any additional requirements necessary to comply with Florida law.

C. The Contractor shall provide consulting and feedback regarding appropriate actuarial valuation methods and assumptions.

D. In addition to the basic services of providing annual actuarial reports, the base fee for each year shall include provisions for:

1. Teleconferencing for various issues, which allow interaction with the

Contractor on pending, or anticipated issues which may affect the actuarial report (limited to brief telecommunications which shall not include the running of any extensive computer generated analyses).

2. Responding to any inquiries by the State of Florida regarding any issues derived from their review of the Actuarial Valuation Reports.

3. Two (2) to three (3) trips annually to Orlando to attend Board meetings and/or staff briefings, which includes an annual actuarial report review with the

Board. If the Board requires an actuarial analysis and development of projections and reports, it may be necessary for the Contractor to conduct a workshop.

4. The Contractor shall furnish periodic newsletters, memos and telephone calls to apprise the pension board of current developments, which may affect the future operation of the pension plan.

5. The Contractor shall provide technical advice regarding the operation of the pension system on an actuarially funded basis. Further, the Contractor agrees to perform said services with the personnel and at the rates specified in its proposal in Section 45 - PRICING PROPOSAL. The Contractor shall perform requested additional services in accordance with Section 4.3 of the RFP.

4.2. CITY

As set forth in this RFP, the Contractor shall conform to the scope of services and technical requirements as set forth herein. Services to be provided by the Contractor shall include, but not be limited to, the following:

A. Preparation of three (3) annual actuarial reports as of the end of the City's fiscal year (September 30) for the City’s Retiree Health Care Program (OPEB Plan).

These reports shall provide sufficient information and comply with both the existing accounting and actuarial guidelines as they relate to the OPEB Plan.

Required reports include:

1. Actuarial Valuation report. This report shall describe the current actuarial condition of the OPEB Plan, determine the Actuarially Determined

Contribution, report the Unfunded Actuarial Accrued Liability, and include and report on other pertinent information regarding the OPEB Plan and participant data.

2. GASB Statement No. 74 Financial Reporting for Postemployment Benefit

Plans Other Than Pension Plans (GASB 74) information necessary for the

City to complete its ACFR.

3. GASB Statement No. 75 Accounting and Financial Reporting for

Postemployment Benefits Other Than Pensions (GASB 75) information necessary for the City to complete its ACFR.

4. Deadlines for these reports are as follows and shall follow the same timing for each subsequent fiscal year under the Contract period:

a. GASB 67 Report: February 1st after fiscal year end

b. GASB 68 Report: June 1st after fiscal year end

c. Valuation Report: April 1 after fiscal year end

4.3. ADDITIONAL SERVICES

The Pension Board and City may, from time to time, determine the need for additional actuarial services. Under Florida law, an actuarial report is required to be obtained for any pending or contemplated change to the pension program prior to submission of that proposal to the City Council and/or State for review. The Contractor will be requested to submit, and the Board will approve and/or negotiate with the Contractor, a fee which will be applicable in determining the cost of these additional services. The proposed fee shall include rates by major category of employee (i.e. Actuary Associate, etc.), and shall be fixed for the five (5) year term (see Section 45 - PRICING PROPOSAL). Prior to accepting an assignment (or receiving authority to proceed) for additional work, the Contractor will be required to provide a proposed fee for the task on a "not to exceed" basis.

5. PRE-PROPOSAL CONFERENCE

5.1. Date

There is no pre-proposal meeting for this project.

5.2. Oral Interpretations and Addenda

All interpretations and clarifications related to the Request for Proposals, or supplemental instructions will be in the form of a written addendum from the Procurement and Contracts

Division. No oral interpretations or clarifications from City staff or by other means will be considered binding unless issued in writing.

6. PROPOSAL DUE DATE AND TIME

6.1. Proposal Due Date

Sealed Proposals must be submitted electronically and received by Procurement and

Contracts Division, no later than 2:00 pm, Local Time, Orlando, FL, on Friday, August 22, 2025. Proposals received after this date and time, will not be considered.

6.2. Public Opening

Proposals will be publicly opened and announced by the Procurement and Contracts

Division on the due date and time as specified herein. The Proposer’s name and verification of bond submittal, if applicable, will be publicly announced aloud at the

Proposal opening.

Instructions to join the solicitation opening virtual meeting:

A. Select a method to join

1. Join a Microsoft Teams Meeting from your calendar, via dial-in number and conference ID, or sign in as a guest on the web. For information on joining a

Microsoft Teams Meeting from the app or on the web, visit:

https://support.office.com/en-us/article/join-a-teams-meeting-078e9868-f1aa-

4414-8bb9-ee88e9236ee4 https://support.office.com/en-us/article/join-a-teams-meeting-078e9868-f1aa-4414-8bb9-ee88e9236ee4 https://support.office.com/en-us/article/join-a-teams-meeting-078e9868-f1aa-4414-8bb9-ee88e9236ee4

B. Choose your device and download Teams

1. Go to https://www.microsoft.com/en-us/microsoft-365/microsoft-teams/download-app and download Microsoft Teams. You can use a smart phone, tablet, laptop, or desktop computer to download at no cost. Make sure to allow some extra time for the install before joining your first meeting. If you do not have one of the devices just mentioned, you can also call in to the meeting. If you cannot download the desktop or mobile application, follow the instructions to join a Microsoft Teams Meeting on the web.

C. Join the virtual meeting

1. See Introduction Section for the Location and/or link to the virtual Proposal

Opening.

a. Note: Sessions may be recorded. Please turn your camera off and mute your microphone before joining the meeting.

D. Provide live public comment

1. An opportunity to speak will be provided to all in attendance during the meeting. You will be called by the name, email or phone number listed. When called, unmute your device and state your name and address for the record.

6.3. Public Record

Proposals received in response to this Request for Proposals are exempt from disclosure under the provisions of the Public Records Law until such time as an award decision has been made known or until thirty (30) days after the Proposal opening, whichever is earlier.

7. PROPOSAL PREPARATION AND FORMAT

7.1. Preparation

Prepare your Proposal in a clear and concise manner. Ensure that the content of your

Proposal submittal is complete. Special attention should be given to the specific information, instructions and requirements of the Request for Proposals document to ensure responsiveness. Proposals that are incomplete or lack key information may be rejected. To help facilitate the review process, properly label each section or tab to correspond with your submittal information.

7.2. Incurred Expenses

The City is not responsible for any expenses which Proposers may incur in preparing and submitting Proposals including presentations and any other expenses called for in this

Request for Proposals.

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7.3. Proprietary Information

A. In accordance with Chapter 119 of the Florida Statutes (Public Records Law), and except as may be provided by other applicable State and Federal Law, all

Proposers should be aware the Request for Proposals and the responses thereto are in the public domain. Proposers are requested to identify specifically any information contained in their Proposals which they consider confidential and/or proprietary and which they believe to be exempt from disclosure to the public under applicable law, citing specifically the applicable exempting law; provided, however, that nothing herein shall be deemed to preclude the full disclosure without redaction of any and all information submitted by Proposers to

Committee members, advisors to the Committee, and City staff and officials administering this solicitation and evaluating the proposals. A generic notation that information is “confidential” is not sufficient. Failure to provide the

Procurement and Contracts Division Office with a detailed explanation and justification including statutory cites and specific reference to your Proposal detailing what provisions, if any, you believe are exempt from disclosure, may result in your entire Proposal being subject to disclosure in accordance with

Chapter 119 of the Florida Statutes.

B. Each Proposer shall complete the “Confidential and/or Proprietary Information

Exemption Form”, included with this Request for Proposals as Attachment “C”, and submit the form with their Proposal.

C. In addition to the Proposal submitted pursuant to Section 9.13, a Proposer asserting any exemptions from public disclosure regarding any portions of its

Proposal shall also provide a redacted copy of its Proposal in electronic format suitable for public disclosure, redacting only such portions of its proposal identified on Attachment “C” as exempt from disclosure under an applicable law.

D. By submitting a proposal, a Proposer acknowledges and agrees that should it designate any materials submitted to the City as confidential or exempt from public disclosure, the Proposer will upon the request of City (at the City’s discretion) defend the City (and its employees, Committee members and advisors, agents, and elected and appointed officials) against all claims and actions (whether or not a lawsuit is commenced) related to the Proposer's designation of material as confidential or exempt from public disclosure. A

Proposer shall indemnify and hold harmless the City (and its employees, Committee members and advisors, agents and elected and appointed officials) from any and all claims, actions, suits, judgements, fines, costs, fees (including attorneys' fees), related to the Proposer’s designation of material as confidential or exempt from public disclosure.

E. Nothing herein shall be deemed to preclude the City from exercising its own judgment regarding the disclosure of records and the City may take any action that the City in good faith believes is necessary for City to comply with federal and/or Florida public records laws, including but not limited to filing a declaratory action.

F. All Proposals received from Proposers in response to this Request for Proposals will become the property of the City of Orlando and will not be returned to the

Proposers.

8. REQUIRED PROPOSAL SUBMITTALS

Outline Format for Response

Responses to this request shall include the following information and be presented in the order shown, separated into sections as noted, including a Table of Contents that identifies each section and its page number:

8.1. Title Page

Provide the name of Proposer's firm, address, e-mail address, telephone number, name of contact person, date, and the subject: RFP25-0426, Actuarial Services

8.2. Table of Contents

Include a clear identification of the material by section and by page number.

8.3. Letter of Transmittal

A. Limit to two (2) pages.

B. Briefly state the Proposer's understanding of the services to be provided and make a positive commitment to perform the work.

C. Give the names of the persons who will be authorized to make representations for the Proposer, their titles, addresses and telephone numbers.

8.4. Respondent's Certification

By submitting a Proposal, the Proposer certifies that the Proposer has fully read and understands the Proposal method and has full knowledge of the scope, nature, and quality of work to be performed.

Each Proposer shall complete the “Respondent's Certification Form,” included with this

Request for Proposals as Attachment “A,” and submit the form with their Proposal. The failure of a Proposer to submit this document will be cause for rejection of the Proposal.

8.5. Conflict of Interest Disclosure

Proposer shall provide the required “Conflict of Interest Disclosure Form” as attached to this RFP as Attachment “B.”

8.6. General Business Information

Proposals shall provide:

A. Legal Name of Proposer, the address of Proposer’s principal place of business, phone number, fax number, name of principal in charge and email address.

B. Name(s) of person(s) to be contacted for information or services if different from name of principal in charge.

C. Business Form - State if Proposer’s business is local, national, or international and indicate the business’s legal status (corporation, partnership, etc.) Provide the date the Proposer was organized or incorporated and state of incorporation.

If the Proposer is a joint venture, please list the partners and the date such joint venture was formed.

D. Indicate whether the Proposer’s business is a parent or subsidiary in a group of contractors/agencies.

E. Provide the location of the office from which the work is to be performed and the number of professional staff employed at the office.

F. State if the Proposer’s business is licensed, permitted and/or certified to do business in the State of Florida and attach copies of all such licenses issued to the business entity.

8.7. Confidential and/or Proprietary Information Exemption Form

Proposer shall provide the required Confidential and/or Proprietary Information

Exemption form as attached to this RFP as Attachment “C.” If Proposer asserts confidentiality to any portion of its proposal, Proposer is reminded to submit a redacted copy of its proposal pursuit to section titled "Proposal Preparation and Format;

Proprietary Information."

8.8. Scope of Services

Proposer shall briefly describe your understanding of the scope of services to be provided.

8.9. Technical Competency

A. Proposer shall briefly compare the respective advantages and disadvantages of the entry age normal, attained age normal, unit credit and aggregate methods.

B. Understanding the cost versus market issue of asset valuation in the actuarial process, Proposer shall explain the market and smoothing methods recommended by your firm, where the method is applicable. If your firm do not use market smoothing, Proposer explain the rationale for using either cost or market for actuarial purposes.

C. Please indicate your firm's ability to comply with the reporting deadlines outlined in Section 5.0, SCOPE OF SERVICES AND TECHNICAL REQUIREMENTS.

D. Proposer shall provide a list of the normal demographic data fields your firm request from your clients.

E. The General Employees’ Plan implemented a Defined Contribution (DC)

Program for new employees hired after October 1, 1998. In addition, the DC

Plan allows for certain qualified participants in the Defined Benefit Plan (DB) to transfer the value of their accrued benefit to the DC Plan. Proposer shall indicate experience with similar situations and describe some of the considerations and decisions the City may need to make in the next three (3) to five (5) years regarding the decline in participation in the DB Plan.

F. Proposer shall address your firm’s experience and ideas to propose around addressing post-retirement healthcare cost

8.10. Proposer's Experience

Proposers must provide the following information:

A. Proposers shall submit a verifiable statement of the Proposer's experience providing: The City of Orlando (City) requests Proposals from interested and qualified Proposers to provide professional actuarial services for the City of

Orlando General Employees’ Pension Plan by the General Employees’ Pension

Board (hereinafter referred to as the "Board") and the City of Orlando (hereinafter referred to as the “City”) for valuation services related to accrued employee benefits. This Request for Proposal is NOT being conducted for the City’s Police

Officers or Firefighters’ Pension Plans. The valuation services contemplated for the City involve determining costs and alternative funding strategies for long-term disability fund calculations and post-retirement health care benefits. The services for the Orlando General Employees’ Pension Plan, as well as the City, should each be considered a separate engagement. The services for the Orlando

General Employees' Pension Plan, as well as the City, should each be considered a separate engagement. The preference is that the Board and the

City be services by one (1) actuarial consultant or firm, but the right is reserved to hire multiple consultants. therefore, we request that separate quotes be provided for each engagement. Additional information regarding the City's Annual

Comprehensive Financial Report (ACFR) can be found via the website and pages referenced in Exhibit "2" ACFR REFERENCES.

1. The statement of experience should be supported by the references listed as

Attachment “D,” which shall be completed and submitted by the Proposer with its Proposal.

2. The Board is particularly interested in your experience in larger statewide or local governmental pension client relationships. Proposers shall include an illustrative list of client relationships including contact names and telephone numbers indicating unit populations (active, retired, vested), years of relationship and to the extent applicable where the actuarial experience has caused your firm's actuarial assumption recommendations to change. Also, if currently providing actuarial services to Florida plans, please provide the approximate number of Florida plans.

B. Background and Procedures: Proposers shall generally describe the background and procedures your firm would undertake. (Do you meet with Pension Boards and/or other City staff prior to developing your service plan? How are the actuarial assumptions determined, etc. in establishing the client relationship?)

C. Lost Business: Provide a list of all contracts in which your firm was terminated for cause by a governmental agency.

D. Financial Stability - Proposers must provide the following information.

1. Provide a narrative description and such other information, if any, as

Proposer deems necessary to demonstrate Proposer’s financial strength and capacity to provide, implement, and maintain the proposed system for the term of the Contract.

2. The City reserves the right to request such additional financial information regarding Proposers as it deems necessary or appropriate from Proposers or from any other party having relevant information, including but not limited to utilizing Dun and Bradstreet or other financial reporting companies’ financial reports for evaluation purposes or to request credit references in its review process.

3. The Proposer shall state if there are any known financial issues that will prevent the Proposer from providing, implementing and maintaining the proposed system for the term of the Contract.

4. Bankruptcies – The Proposer shall state if they are involved in an ongoing bankruptcy as a debtor, or in a reorganization, liquidation, or dissolution proceeding, or if a trustee or receiver has been appointed over all or a substantial portion of the property of the Proposer under federal bankruptcy law or any state insolvency law.

E. Litigation History - The Proposer shall describe whether Proposer is involved in any litigation, currently or within the last five (5) years where the amount in dispute exceeded $50,000. Proposer shall also describe whether Proposer has any outstanding judgments pending against Proposer.

8.11. Staff Experience

The Proposer shall submit a statement of experience and resumes of the management and professional staff who will be assigned to the project, to include each supervisor and professional person to be assigned to the job should be included.

8.12. Veteran Business Enterprise Participation in Subcontracts

Proposer shall provide the required Veteran Business Enterprise Participation form as attached to this RFP as Attachment “E.”

8.13. Human Trafficking Affidavit

The Vendor hereby represents, warrants, and certifies that Vendor does not use coercion for labor or services as defined in Section 787.06, Florida Statutes and that Vendor has provided the Human Trafficking Affidavit attached hereto as Attachment "F."

A completed Human Trafficking Affidavit should be included with your Submittal. A contract shall not be awarded to a Respondent who does not submit the form at the time of submittal or within seven (7) days of the date the City requests the form be submitted, if a Respondent fails to return the form with its response.

8.14. Price Proposal Schedule

Complete and submit the following forms:

A. Schedule

1. Proposer’s price shall be submitted on Section 45 - Pricing Proposal in the format provided.

B. Proposed Total Price

1. Proposal should provide a fixed-fee price breakdown for meeting all service requirements and implementing each phase of the Scope of Services as outlined. Additionally, Proposal should provide hourly staff rates if additional work is required under the Contract.

2. The chargeable services shall be included in the proposed total price including all labor customarily associated with delivery of the services contemplated by this RFP. Similarly, all expenses such as but not be limited to travel, lodging, meals and telephone/faxes/copiers associated with delivery of the services contemplated by this RFP shall also be included in the total price.

3. There will be no separate reimbursement for such expenses under this total fee price arrangement.

9. DELIVERY OF PROPOSALS

Except as provided in Section titled "Americans with Disabilities Act," for people needing special accommodations, to be responsive proposals for this solicitation must be submitted electronically. Paper responses will be deemed non-responsive.

9.1. Instructions for submitting a proposal

A. Once you have logged into your OpenGov account, go to the solicitation in which you want to bid/participate on. Then click on “Draft Response,” complete the information requested, upload your bid/quote/submittal, along with all required attachments, and submit.

Respondents are solely responsible for ensuring that their submittals are complete, uploaded and submitted in the e-Procurement Portal by the due date and time. The City shall not be responsible for any submission delays or failures caused by any occurrence.

9.2. Proposal Binding

All Proposals submitted shall be binding for one hundred eighty (180) calendar days following opening.

9.3. Late Proposals

Proposals received by the City after the time specified for receipt will not be considered.

Proposers shall assume full responsibility for timely delivery of the Proposals to the location designated for receipt of Proposals.

10. CONFORMANCE TO SOLICITATION

All Proposals submitted shall meet and conform to all material, mandatory requirements set forth in this RFP, provided that nothing herein shall be deemed to limit the City’s ability to waive minor irregularities without notice or the need to issue a written addendum.

If a Proposer desires to submit a Proposal which, if selected by the City, would require the City to waive, alter or omit a material, mandatory requirement set forth in this RFP, the Proposer must first submit a request to the City asking the City to amend the requirements of this RFP in the same manner provided for the submission of written questions by Proposers provided in the section of this RFP entitled “Questions Regarding

Solicitation or Proposal Process.” If the City, in its discretion, agrees to amend, alter, or waive the requirement, the City shall issue notice to all prospective Proposers of the change in the form of a written addendum.

Any request to waive, alter, or amend a mandatory requirement of the RFP should be in the form of a written question that can be answered in an Addendum issued to all prospective Proposers. Please note, the City is not asking the Proposer to send in their

Proposals prior to the submission date, but merely to request a waiver or amendment to a mandatory requirement necessary to allow submission of the intended Proposal.

11. EVALUATION CRITERIA

An Advisory Committee will be established to review all responsive Proposals. Proposals will be evaluated for short listing (if applicable) and final ranking using the evaluation criteria set forth herein. The information that will be considered for each criteria is as follows:

No. Evaluation Criteria Scoring Method Weight (Points)

1. Responsiveness to Scope of Services and Technical Competency

This criteria will include, but will not be limited to, evaluation of Proposer’s response to the scope of services and technical competency.

Points Based 38 (38% of Total)

2. Experience of Proposer and Staff

This criteria will include, but will not be limited to, Proposer’s general statement of experience, operational capabilities, evaluation of the staff experience, proposed staff, financial stability, references, bankruptcies, and lost business.

Points Based 35 (35% of Total)

3. Veteran Business Enterprise participation in subcontracts

This criteria will include, but will not be limited to, evaluation of the information submitted in response to Attachment “E.”

Points Based 2 (2% of Total)

4. Price Proposal

This criteria will include, but will not be limited to, evaluation of the pricing information submitted in Section 45 - Pricing

Proposal.

Points Based 25 (25% of Total)

12. PROPOSAL ADVISORY COMMITTEE AND EVALUATION PROCESS

12.1. Initial Review of Responses

The Procurement and Contracts Division will perform an initial review of all Proposal submittals for preliminary qualification and documentation compliance. This review process may include, but is not limited to, forms verification, professional licensing, references, past performance, and other relevant criteria.

12.2. Advisory Committee

An Advisory Committee (hereinafter referred to as “the Committee”) consisting of at least five (5) members will be established to review, discuss, and evaluate all responsive

Proposals submitted in response to this Request for Proposals (RFP). The Committee may utilize City staff and/or consultants who are not members to advise and assist the

Committee in its review of the Proposals. The subsequent inability of one or more committee member to serve or complete service on a committee shall not require the appointment of a new committee or a replacement committee member even if the loss of such member(s) causes the number of remaining committee members to fall below five

(5).

12.3. Preliminary Evaluation; Short Listing

The Committee may conduct a preliminary evaluation of all Proposals on the basis of the information provided and, if the Committee deems desirable in its discretion, it may elect to short list two or more Proposers using the evaluation criteria set forth in this solicitation.

Upon short listing by the Committee, only those Proposers short listed shall remain eligible for further evaluation and consideration by the Committee.

12.4. Presentations

The Committee reserves the right to require oral presentations from and conduct pre-award discussion and/or pre-Contract negotiations with any or all responsive and responsible Proposers who submit Proposals determined to be reasonably acceptable of being selected for award. Presentations and pre-award discussions and negotiations may be limited at the discretion of the Committee to short listed Proposers. Discussions may be conducted for the purpose of clarification and to assure full understanding of, and responsiveness to, the solicitation requirements. The City will not be liable for any costs incurred by the Proposer in connection with such interviews, presentations, or negotiations (i.e., travel, accommodations, etc.).

12.5. Optional Discussion

At the discretion and in the best interest of the City, the City or Committee may conduct discussions with Proposers (or the short listed Proposers, as applicable) or seek revision of Proposals from Proposers (or the short listed Proposers, as applicable) deemed to be responsible and reasonably acceptable to be selected. Such Proposers (or short listed

Proposers) will be accorded fair and equal treatment with respect to discussion and revision of the Proposals. Revisions may be permitted after submission of Proposals and prior to award of a Contract for the purpose of obtaining best and final offers.

12.6. Award Without Presentations

The City may evaluate and award a Contract based on responses to this Request for

Proposals without discussions or oral presentations. Therefore, each response to this

RFP should contain the Proposer's best terms and conditions for consideration.

12.7. Scoring and Final Ranking

Each Advisory Committee member will evaluate the proposals based on the factors set forth in the Evaluation Criteria of the RFP and assign a score for each criteria ranging from zero (0) points to the maximum points allowed for each rating criteria. The individual criteria scores will then be added to determine the total score. The maximum possible total score is one hundred (100). After scoring, each Advisory Committee member will rank the Proposers based upon the member’s total scores for each proposal. The ranking established by each member will be accumulated to determine the final ranking. Each member’s top-ranked firm will be assigned one (1) point, second ranked firm two (2) points and so on. After accumulating the members’ points, the Proposer with the lowest points shall be ranked first, the next lowest points shall be ranked second, and so on.

In the event of a tie, the tied Respondents’ total scores from each member will be added and compared. The Respondent with the highest total scores will be ranked highest of the tied Respondents. If the total scores of two or more of the tied Respondents also results in a tie, the City’s Chief Procurement Officer, or designee, may instruct the

Advisory Committee to conduct further deliberations, evaluations and rescoring of the

Respondents until a ranking, or total score, without a tie is achieved.

The Committee will evaluate and rank the responsive Proposers deemed reasonably acceptable to be selected (or the short listed Proposers, as applicable) as set forth in the preceding section entitled “Evaluation Criteria”. In the event that the Committee previously elected to short list Proposers, any rankings or scores assigned as part of the short listing process shall not be binding on the Committee or its members as part of final evaluation and Committee members may modify their scores for any and all Proposers and scoring categories as they deem appropriate in their sole discretion. The Committee shall submit the proposed rank order to the Chief Procurement Officer after the conclusion of scheduled presentations, if any. Upon approval of the ranking by the Chief Procurement

Officer, the Chief Procurement Officer shall post a notice of intended action. The notice of intended action may be obtained by the Proposers as set forth in the section of this

RFP titled “Request for Proposals Information.”

12.8. Authority to Award

Contracts shall be awarded in accordance with the provisions of the City’s Procurement

Code, Chapter 7 of the City of Orlando’s Code of Ordinances. Award of contracts in excess of One Hundred Thousand Dollars ($100,000) shall be subject to City Council approval.

12.9. Reserved Right

The City, at its sole and absolute discretion, reserves the right to reject any and all, or parts of any and all proposals, to re-advertise this solicitation, postpone or cancel, at any time, this solicitation process, or to waive minor irregularities and informalities in this RFP or in the proposals received as a result of this RFP. The City does not guarantee the award of any Contract as a result of this solicitation process.

13. GENERAL TERMS AND CONDITIONS

13.1. Communications with the City, Agency, or Board; Prohibited Contacts

To protect the integrity of the solicitation process and ensure fair consideration of all respondents, a prohibited communication period is hereby established commencing as of the time of the issuance of this solicitation and terminating upon execution of a contract

(or, if the solicitation is cancelled, upon cancellation of the solicitation). Except for communication with the City’s designated point of contact set forth in this solicitation or as otherwise authorized by the City’s Chief Procurement Officer, during the prohibited communication period, the City prohibits communication regarding the solicitation by a respondent or potential respondent (or on a respondent or potential respondent’s behalf) to or with any officer, elected official (including the Mayor and City Council), department, division, office, or employee of the City, and any Advisory Committee members or other people or entities providing advice to the City or the Advisory Committee related to this solicitation. During the prohibited communication period, all contacts and communications regarding the solicitation by a respondent, or potential respondent, including their agents, representatives or others on their behalf, shall be directed to the City’s Procurement and

Contract Services Division in the manner provided below in this solicitation, unless otherwise authorized by the City’s Chief Procurement Officer. Prohibited contact or communications during the prohibited communication period may result in disqualification from the solicitation process, rejection of the solicitation, or termination of any resulting contract as determined by the Chief Procurement Officer. In addition, prohibited contact or communications may also be grounds for suspension and debarment of a respondent or potential respondent under the City’s Procurement Code.

13.2. Questions

Any questions relative to interpretation of the solicitation or the solicitation process shall be addressed in writing as indicated below. In order to be answered prior to the submittal deadline, questions must be received by the Procurement and Contracts Division on or before the cut-off date for questions as specified in the Proposal Schedule. Any interpretation made to prospective Proposers with respect to questions submitted prior to the cut-off date for questions will be expressed in the form of an addendum to the solicitation which, if issued, will be conveyed in writing to all prospective Proposers no later than five (5) days prior to the date set for receipt of Proposals. Oral answers will not be authoritative.

13.3. Addenda

It will be the responsibility of the Proposer to contact the Procurement and Contracts

Division prior to submitting a Proposal to ascertain if any addenda have been issued, to obtain all such addenda, and to return executed addenda with the Proposal.

13.4. Point of Contact

All communication and contact regarding this solicitation shall be directed to:

Tara Urdininea, CPP, Purchasing Agent II

City of Orlando

Procurement and Contracts Division

City Hall at One City Commons

400 S. Orange Avenue, Fourth Floor

Orlando, Florida 32801

Telephone: (407) 246-2368

Fax: (407) 246-2869

Email: tara.urdininea@orlando.gov

Website: http://www.orlando.gov/procurement/

14. ADDITIONAL INFORMATION

The City reserves the right to request that the Proposer provide additional information it deems necessary to evaluate, clarify, or substantiate any area contained in each submitted Proposal and to more fully meet the needs of the City. This includes information which indicates financial resources as well as ability to provide and maintain the system and/or services. Moreover, the City reserves the right to make investigations of the qualifications of the Proposer as it deems appropriate, including but not be limited to, a background investigation conducted by the Orlando Police Department.

15. ADDENDUM TO REQUEST FOR PROPOSALS

If it becomes necessary to revise or amend any part of this Request for Proposals before the Proposal due date, the Chief Procurement Officer will furnish the revision by written

Addendum.

It is the Respondent's responsibility to contact the Procurement and Contracts Division prior to submitting a response to ascertain if any Addenda have been issued, to obtain all such Addenda, and return executed Addenda with the response, if applicable. All addenda information will be posted on the City's website

(https://procurement.opengov.com/portal/orlando). The failure of a Respondent to submit http://www.orlando.gov/procurement/ https://procurement.opengov.com/governments/portal/orlando acknowledgment of any Addenda that affects the price(s), is considered a major irregularity and will be cause for rejection of the response.

16. APPLICABLE LAW AND APPEALS

This Request for Proposals is issued in accordance with and shall be governed by the provisions and procedures of Chapter 7 of the City of Orlando’s Code which can be accessed online at:

https://www.municode.com/library/fl/orlando/codes/code_of_ordinances?nodeId=TITIICI

CO_CH7PRCO or by contacting the Procurement and Contracts Division. Any appeal of matters relating to this solicitation must be filed in accordance with the requirements of

Chapter 7 of the City Code.

17. CONTRACT

The Contract form that the City intends to use for the award is included with this RFP as

Exhibit “1” for reference. While this draft Contract contains standard legal language and is not routinely modified, any exceptions to this standard Contract should be clearly indicated and Proposer understands that such exceptions may affect the evaluation of the Proposal submittal. Modification or alteration of this Contract shall only be valid if mutually agreed to in writing by the parties.

18. EXECUTION OF CONTRACT

Unless such time is extended by the City, the successful Proposer shall, within fifteen

(15) calendar days after Notice of Award is issued by the City of Orlando, Procurement and Contracts Division, sign and enter into a Contract with the City, and simultaneously provide any required bonds, indemnities and insurance certificates.