Actuarial_Services.pdf

Sacramento Housing and Redevelopment Agency

Procurement Services

801 12th Street – 2nd Floor Sacramento, CA 95814

(916) 440-1378 ps@shra.org

Visit our website @ www.shra.org

A Joint Powers Agency

M E M B E R S

City of Sacramento

County of Sacramento

Housing Authority of the City of Sacramento

Housing Authority of the County of Sacramento

Sacramento Housing and

Redevelopment Agency

Request for Proposals

Actuarial Services

RFP # 2611-KP

Date RFP Issued September 30, 2026

First Pre-Proposal Meeting (Non- Mandatory)

October 15, 2026, 11:00am You are invited to a Zoom meeting.

When: Oct 15, 2026 11:00 AM Pacific Time (US and Canada)

Register in advance for this meeting:

https://shra-org.zoom.us/meeting/register/AzCT0GVsQaGri3u

4wP4p8w

After registering, you will receive a confirmation email containing information about joining the meeting.

Request for Information (RFI) Due October 20, 2026, 4:00pm

Addendum (if necessary) issued October 22, 2026, 4:00pm

Proposals Due October 29, 2026, 3:00pm

Notice of Award (anticipated) November 16, 2026 mailto:ps@shra.org http://www.shra.org/ https://shra-org.zoom.us/meeting/register/AzCT0GVsQaGri3u4wP4p8w https://shra-org.zoom.us/meeting/register/AzCT0GVsQaGri3u4wP4p8w

Request For Proposal (RFP) Solicitation #2611-KP Title: Actuarial Services

Contract start (anticipated) December 7, 2026

REQUEST FOR PROPOSAL (RFP) SOLICITATION

Actuarial Services

I. Introduction II. Subcontracting

III. Scope of Work IV. Insurance Requirement V. Contract VI. Agency Contact VII. Time and Place for Submission of Proposal VIII. Proposal Submittal Format and Requirements IX. Pricing Proposal X. Selection Process Overview XI. Award Notice and Acceptance Period XII. Award of Contract XIII. Mistake in Proposal XIV. Error in Submitted Proposals XV. Agency’s Rights, Options, and Policies

Attachments:

A - SAMPLE SHRA Standard Contract + Attachment 1 (Rev. 9.09.2025)

B - Bid & Contract Instructions - HUD-5369-B (8-93) - Instructions to Offers Non-Construction

C - Bid & Contract Instructions - Supplemental Instructions to Offerors Non-Construction HUD 5369-B

1. 1. ................................................................................ Introduction

Request for Proposals

Actuarial Services

2611-KP

Date:Wednesday, September 30, 2026

1.1. 1.1. .................................................................................................. Summary

Sacramento Housing & Redevelopment Agency (SHRA) seeks actuarial services to support the ongoing measurement, funding, and financial reporting of its Other Post-Employment Benefits (OPEB) program.

The project is centered on helping SHRA maintain a disciplined, sustainable approach to retiree healthcare obligations while producing clear, defensible actuarial information for both funding and accounting purposes. SHRA has historically prefunded its OPEB obligations through the California

Employers’ Retiree Benefit Trust (CERBT) and has consistently contributed at or above the actuarially determined contribution, reflecting a strong commitment to long-term sustainability and sound fiscal management.

The selected vendor will be expected to provide actuarial valuation and advisory services that support several interconnected objectives: development of actuarially determined contributions, preparation of

GASB 75 reporting, analysis of funded status and long-term liability trends, and evaluation of the

Agency’s prefunding strategy.

The work is expected to require technical rigor, responsiveness, and the ability to communicate complex actuarial concepts to management and stakeholders in a practical way. SHRA values a partner who can do more than deliver compliant reports: the Agency is looking for actuarial expertise that can help leadership understand emerging risks, evaluate funding options, explain key drivers of change, and support informed decision-making over time. This engagement should be attractive to high-quality vendors with public-sector OPEB experience, particularly those who can combine strong actuarial credentials with thoughtful strategic advice, reliable project execution, and clear presentation of results.

1.2. 1.2. ............................................................................................... Background

SHRA sponsors an Other Post-Employment Benefits (OPEB) program for eligible retirees that includes retiree medical and dental benefits. In connection with these benefits, SHRA requires ongoing actuarial services to measure liabilities, support funding decisions, and provide information necessary for financial reporting and long-term planning. The Agency’s OPEB program includes both explicit employer-paid subsidies and implicit subsidy liabilities associated with blended active and retiree healthcare premiums, requiring specialized actuarial analysis and periodic review.

SHRA has historically taken a proactive approach to OPEB funding and administration. The Agency participates in the California Employers’ Retiree Benefit Trust (CERBT) and has used actuarial valuations to establish contribution levels and evaluate the funded status of the plan. Recent actuarial reports have supported development of Actuarially Determined Contributions (ADCs), measurement of total OPEB liability, and preparation of GASB 75 financial reporting disclosures. These services have been an important part of SHRA’s broader effort to manage retiree benefit obligations in a fiscally responsible and sustainable manner.

SHRA’s OPEB program contains multiple plan design features that require careful actuarial evaluation.

The Agency maintains different contribution structures for employees based on hire date, including a medical allowance structure for certain retirees and a PEMHCA vesting-based subsidy structure for others. The actuarial work therefore requires not only technical valuation expertise, but also a clear understanding of public-sector retiree healthcare programs, applicable accounting standards, demographic and healthcare trend assumptions, and the funding implications of plan design and experience changes over time.

Through this solicitation, SHRA seeks to retain a qualified actuarial services firm with demonstrated experience in public-sector OPEB valuations, funding analysis, and GASB 75 reporting. The Agency is interested in obtaining professional services that are accurate, timely, and clearly communicated, and that will support SHRA in continuing its prudent management of retiree healthcare obligations.

1.3. 1.3. ..................................................................................... Contact Information

Keith Peloquin Compliance/Procurement Analyst 801 12th Street Procurement Services Sacramento, CA 95814 Email: kpeloquin@shra.org Phone: (916) 449-6296

Department:

Finance

1.4. 1.4. ................................................................................................... Timeline

Attendance is encourage at the Pre-Proposal meeting.

Date RFP Issued September 30, 2026

First Pre-Proposal Meeting (Non-

Mandatory)

October 15, 2026, 11:00am

You are invited to a Zoom meeting.

When: Oct 15, 2026 11:00 AM Pacific Time (US and Canada)

Register in advance for this meeting:

https://shra-org.zoom.us/meeting/register/AzCT0GVsQaGri3u4 wP4p8w

After registering, you will receive a confirmation email containing information about joining the meeting.

Request for Information (RFI) Due October 20, 2026, 4:00pm

Addendum (if necessary) issued October 22, 2026, 4:00pm

Proposals Due October 29, 2026, 3:00pm mailto:kpeloquin@shra.org tel:(916)449-6296 https://shra-org.zoom.us/meeting/register/AzCT0GVsQaGri3u4wP4p8w

Notice of Award (anticipated) November 16, 2026

Contract start (anticipated) December 7, 2026

2. 2. ............................................................................ Subcontracting

No subcontracting will be allowed under this contract. However, at the Agency’s discretion, the Agency may allow a sub-contractor to perform work incidental to the scope of work which is outside the contractor’s license type. Any lower-tiered subcontractor shall be bound by all DIR, prevailing wage or certified payroll reporting requirements. All Contractors must notify the compliance analyst of any subcontractor prior to work being done by the subcontractor.

3. 3. ............................................................................. Scope of Work

3.1. 3.1. ..................................................... Important Instructions for Electronic Submittal

SHRA is accepting electronic bid submissions. Proposers shall create a FREE account with OpenGov

Procurement by signing up at Sign Up (opengov.com). Once you have completed account registration, browse back to this page, click on "Submit Response", and follow the instructions to submit the electronic bid.

3.2. 3.2. ........................................................................................... Scope of Work

Sacramento Housing and Redevelopment Agency (“SHRA” or “Agency”) seeks proposals from qualified actuarial firms to provide actuarial services for the Agency’s Other Post-Employment Benefits (“OPEB”) program, including actuarial valuation services and GASB Statement No. 75 reporting support for retiree healthcare benefits.

This Scope of Work is intended to serve as a general guide to the work SHRA expects to be performed and is not intended to be a complete listing of all services that may be required. The selected consultant shall furnish all professional actuarial services, labor, supervision, calculations, consultation, reports, and related support reasonably necessary to complete the work in accordance with applicable professional standards and SHRA requirements.

The selected consultant shall provide actuarial services in accordance with applicable Actuarial

Standards of Practice and in a manner that allows SHRA to report in compliance with Governmental

Accounting Standards Board Statement No. 75 (“GASB 75”).

3.3. 3.3. ................................................................................ Retiree Healthcare Plan

SHRA provides access to retiree medical and dental benefits for eligible participants under its OPEB program, including both explicit employer-paid subsidies and implicit subsidy liabilities associated with retiree healthcare coverage. SHRA has assets accumulated in an irrevocable trust through the California

Employers’ Retiree Benefit Trust (CERBT). At December 31, 2023 the most recent valuation date, the following current and former employees (actual counts) were covered by the benefit terms under the Agency's Healthcare Plan:

Active employees – 236

Inactive employees receiving benefits – 267

Inactive employees entitled but not yet receiving benefits – 38

3.4. 3.4. ................................................................................ Minimum Requirements

A. Have experience with preparing GASB 75 actuarial valuation services in accordance with Actuarial

Standards of Practice and must possess valid Enrolled Actuary credentials or be qualified under the

American Academy of Actuaries Qualification Standards.

B. Have no final adverse complaints through the Better Business Bureau or the State of California

Department of Consumer Affairs.

C. Have no record of unsatisfactory performance with any public agency. Proposers who are or have been seriously deficient in current or recent contract performance, in the absence of circumstances properly beyond the control of the Proposer, shall be presumed to be unable to meet this requirement.

D. Have the ability to maintain adequate files and records and meet reporting requirements.

E. Have the administrative and fiscal capability to provide and manage the services and to ensure adequate audit documentation and reporting.

F. Have at least five (5) years’ experience providing similar services to other local governmental agencies of similar size to SHRA.

https://procurement.opengov.com/signup

3.5. 3.5. .................................................................................. General Requirements

The selected consultant shall provide actuarial services necessary to support SHRA’s valuation, accounting, and financial reporting needs for retiree healthcare OPEB. Services shall include review of data, development of assumptions and methods, preparation of valuation and GASB 75 reports, consultation with Agency staff, and coordination with the Agency’s auditor as needed.

All work shall be prepared by qualified actuarial professionals with demonstrated experience in public-sector OPEB valuations and GASB 75 reporting.

3.6. 3.6. ........................................................................... Actuarial Valuation Services

The consultant shall prepare new Actuarial Valuation Reports for SHRA for retiree healthcare as of

December 31, 2025, December 31, 2027, and as of December 31, 2029.

The December 31, 2025 actuarial valuation shall support SHRA’s GASB 75 reporting for the fiscal years ending December 31, 2026 and December 31, 2027. The December 31, 2027 actuarial valuation shall support GASB 75 reporting for the fiscal years ending December 31, 2028 and December 31, 2029. The

December 31, 2029 actuarial valuation shall support GASB 75 reporting for the fiscal year ending

December 31, 2030.

Each actuarial valuation report shall, at a minimum:

A. Measure SHRA’s retiree healthcare OPEB liabilities as of the applicable valuation date.

B. Reflect applicable plan provisions, eligibility rules, subsidy structures, and current retiree healthcare arrangements.

C. Measure both explicit subsidy liabilities and implicit subsidy liabilities.

D. Use actuarial methods and assumptions that comply with applicable Actuarial Standards of Practice and are appropriate for the stated purpose of the report.

E. Include a description of participant data, actuarial assumptions, methods, and material plan provisions used in the valuation.

F. Provide a reconciliation of results from the prior valuation, including explanation of significant changes in liabilities due to plan changes, demographic experience, healthcare cost changes, investment experience, assumption changes, participation changes, or other material factors.

G. Provide information sufficient to support future GASB 75 reporting.

H. Prepare Actuarially Determined Contributions (ADCs) for SHRA’s OPEB prefunding program. The

December 31, 2025 valuation shall include ADCs for fiscal years 2026 through 2028. Subsequent valuations shall include ADCs for the applicable future fiscal years necessary to support SHRA’s OPEB prefunding and budget planning.

I. Calculate ADCs separately for each of SHRA’s four designated fund groups and on a combined

Agency-wide basis.

J. Clearly identify the components, assumptions, actuarial cost method, amortization method and period, asset valuation method, and other factors used in the development of the ADCs.

3.7. 3.7. .............................................................. GASB 75 Financial Reporting Services

The consultant shall provide the actuarial basis for SHRA’s GASB 75 financial reporting for retiree healthcare implicit subsidy and explicit subsidy for the fiscal years ending December 31, 2026, December

31, 2027, December 31, 2028, December 31, 2029, and December 31, 2030.

For purposes of this engagement, the GASB 75 reporting shall be structured as follows:

A. The GASB 75 reports for fiscal years ending December 31, 2026, and December 31, 2027, shall be based on the December 31, 2025 actuarial valuation.

B. The GASB 75 reports for fiscal years ending December 31, 2028, and December 31, 2029, shall be based on the December 31, 2027 actuarial valuation.

C. The GASB 75 reports for fiscal years ending December 31, 2030, shall be based on the December 31, 2029 actuarial valuation.

Fiscal Year Report Based on Valuation

2026 12/31/2025

2027 12/31/2025*

2028 12/31/2027

2029 12/31/2027*

2030 12/31/2029

* GASB 75 reporting for these fiscal years may be prepared using a roll-forward of the preceding full actuarial valuation, provided such roll-forward is appropriate under GASB 75 and applicable Actuarial Standards of Practice.

3.8. 3.8. ................................................................. Required GASB 75 Report Structure

For each Annual Financial Statement reporting year, beginning with the fiscal year ending December 31, 2026, the consultant shall prepare three GASB 75 reports for SHRA, as follows:

A. Explicit subsidy only

B. Implicit subsidy only

C. Explicit subsidy plus implicit subsidy

Each GASB 75 report shall include the actuarial information needed by SHRA and its auditor to assist in preparing the Agency’s Annual Comprehensive Financial Report.

The work product shall include the actuarial schedules, exhibits, and supporting information necessary for

GASB 75 compliance and audit support, including, as applicable:

A. Total OPEB Liability B. Fiduciary Net Position, if applicable C. Net OPEB Liability D. OPEB expense E. Deferred outflows of resources and deferred inflows of resources F. Sensitivity disclosures required by GASB 75 G. Schedules of changes in Net OPEB Liability and related ratios H. Schedule of contributions, if applicable I. Actuarially Determined Contribution (ADC) and related contribution schedules, calculated separately for each of the four designated fund groups and in total, as applicable J. Projected benefit payment schedules K. Notes regarding actuarial methods and assumptions L. Supporting exhibits and schedules reasonably required for audit review

The work product shall not include draft Other Post-Employment Benefits (OPEB) footnotes for SHRA’s financial statements.

3.9. 3.9. ........................................................................... Data Review and Validation

The consultant shall:

A. Provide SHRA with a data request identifying the information needed to perform the valuation and

GASB 75 work.

B. Review census, premium, contribution, trust, and plan data provided by SHRA for reasonableness, consistency, and completeness.

C. Identify data concerns, anomalies, or missing information and work with SHRA staff to resolve such issues.

D. Clearly identify the extent of reliance on Agency-provided data and any limitations affecting the results.

3.10. 3.10. .......................................................... Assumptions, Methods, and Compliance

The consultant shall:

A. Apply actuarial methods and assumptions appropriate to the assignment and compliant with applicable Actuarial Standards of Practice.

B. Prepare work products that allow SHRA to report in compliance with GASB 75.

C. Clearly disclose all actuarial assumptions, methods, and sources of information used.

D. Identify and explain any changes in assumptions or methods from prior reports and quantify their effect where material.

E. Maintain work papers and documentation sufficient to support the conclusions presented in the reports.

3.11. 3.11. .................................................................. Consultation and Agency Support

The consultant shall provide reasonable consultation, presentation, and technical support in connection with the actuarial services throughout the term of the engagement. Such support shall include communication of actuarial results to Agency staff, executive management, the Board, Board committees, and the Agency’s independent auditor, as requested by SHRA.

At a minimum, the consultant shall:

A. Conduct a kickoff discussion with Agency staff regarding project schedule, data needs, assumptions, deliverables, and reporting requirements.

B. Meet or confer with Agency staff to review draft and final valuation results, GASB 75 reports, and related actuarial findings.

C. Explain significant findings, changes in liabilities, reporting impacts, and major actuarial assumptions and methods in a clear and understandable manner.

D. Assist SHRA staff in understanding the distinction between explicit subsidy, implicit subsidy, and combined reporting results, including the financial statement impact of each.

E. Provide reasonable consultation to Agency staff regarding actuarial calculations, assumptions, report content, and related technical issues.

F. Present the results of actuarial valuation reports, ADCs, and GASB 75 reports to Agency staff, executive management, the governing Board, Board committees, or other designated decision-making bodies, as requested by SHRA.

G. Be available to answer questions from Agency staff, executive management, Board members, and the Agency’s independent auditor regarding the actuarial reports and GASB 75 reporting.

H. Provide executive summaries, presentation materials, or Board-ready summaries of actuarial results, if requested by SHRA.

I. Participate in meetings in person or by videoconference, as requested by SHRA and mutually scheduled.

J. Respond to Agency questions and requests for clarification in a timely manner throughout the engagement.

The base scope shall include one kickoff meeting, one staff review meeting per cycle, and one presentation associated with each valuation and each annual GASB 75 reporting cycle. Proposers shall separately identify any assumptions or additional fees associated with meetings beyond those included in the base scope.

3.12. 3.12. ........................................................................................ Auditor Support

The consultant shall provide reasonable assistance to SHRA and its independent auditor in connection with the actuarial reports and GASB 75 reporting, including:

A. Responding to auditor questions regarding methods, assumptions, and calculations.

B. Providing supporting schedules and explanations reasonably required for the audit process.

C. Assisting in reconciliation of actuarial information presented in the Agency’s Annual

Comprehensive Financial Report.

3.13. 3.13. ............................................................................................ Deliverables

At a minimum, the consultant shall provide the following deliverables:

A. Valuation Reports

1. Actuarial Valuation Report as of December 31, 2025

2. Actuarial Valuation Report as of December 31, 2027

3. Actuarial Valuation Report as of December 31, 2029

4. ADC schedules associated with each valuation, including calculations by each of SHRA’s four designated fund groups and in total

B. GASB 75 Report

For each applicable Annual Financial Statement reporting year, three GASB 75 reports:

1. Explicit subsidy only

2. Implicit subsidy only

3. Explicit subsidy plus implicit subsidy

Specifically, the engagement shall include GASB 75 actuarial reporting support for:

a. December 31, 2026

b. December 31, 2027

c. December 31, 2028

d. December 31, 2029

e. December 31, 2030 with report basis as follows:

a. FYE 2026 GASB 75 reports based on the December 31, 2025 valuation

b. FYE 2027 GASB 75 reports based on the December 31, 2025 valuation

c. FYE 2028 GASB 75 reports based on the December 31, 2027 valuation

d. FYE 2029 GASB 75 reports based on the December 31, 2027 valuation

e. FYE 2030 GASB 75 reports based on the December 31, 2029 valuation

C. Presentation and Meeting Support

a. Kickoff meeting at the beginning of the engagement.

b. Staff review meeting for each actuarial valuation and annual GASB 75 reporting cycle.

c. Presentation of actuarial valuation, ADC, and/or GASB 75 results to Agency staff, executive management, the governing Board, Board committees, or other designated bodies, as requested by

SHRA.

d. Presentation materials, executive summaries, or Board-ready materials, as requested by SHRA.

D. Format

All reports shall be provided in electronic PDF format, with key schedules provided in Excel or other editable format if requested by SHRA.

3.14. 3.14. ................................................................... Optional and Additional Services

Because this Scope of Work is intended as a general guide and not a complete listing of all required services, SHRA reserves the right to request additional related actuarial services under the resulting agreement, including but not limited to:

A. Special studies or scenario modeling

B. Alternative funding analyses

C. Trust sufficiency or depletion projections

D. Sensitivity analyses beyond standard GASB disclosures

E. Additional consulting related to OPEB funding strategy, budgeting, or policy evaluation

3.15. 3.15. ............................................................................... Detailed Requirements

Responses to this Request for Proposal must be in the form of a bid package, which must include:

I. Cover page

II. Table of Contents

i. All pages of the bid, including the enclosures, must be clearly and consecutively numbered and correspond to the Table of Contents.

III. Statement of Experience and Qualifications

a. Business name of the Proposer and legal entity type, such as corporation, partnership, etc.

b. Number of years the Proposer has been in business under the present business name, as well as related prior business names.

c. Statement that the Proposer does not have any commitments or potential commitments that may affect the Proposer’s ability to perform this Contract.

IV. Licenses, Permits and/or Certifications (No. 5 under Vendor Submissions)

V. Project Team Organization Chart

a. Organization chart illustrating the project team shall clearly show the organization of the team and the hierarchy of the members. It must include:

i. Organizational framework for the proposed project team.

ii. Company name and staff name for each role identified in the chart.

iii. Resumes of key personnel, including qualifications, education, and project experience.

iv. Firm’s process or approach for executing the work utilizing staff.

VI. Proposal Description

a. A brief synopsis of the Proposer’s understanding of the Agency’s needs and how the Proposer plans to meet these.

b. A detailed statement of the proposed services (and product, if applicable).

c. An explanation of any assumptions and/or constraints.

VII. Work Plan and Schedule

a. A summary of management/work plan for this Project.

b. A project schedule.

VIII. Sample of Work

a. An example of the actuarial valuation process and reporting prepared for another client.

IX. Cost / Pricing

a. Detailed pricing bid for all aspects of this RFP. If applicable, the Proposer should include in its price bid all transportation, lodging, and per diem costs sufficient to pay its personnel and travel to Agency, if and as needed.

X. Customer References (No. 10 under Vendor Submissions)

a. Provide three (3) references from other local governmental agencies for which the Proposer has performed services of similar size and complexity. Provide Name of Organization, Contact Name, Address, Phone Number, Description of Services, and dates services were provided.

4. 4. .................................................................... Insurance Requirement

4.1. 4.1. ..................................................................................... Basic Requirements

During the term of the contract, the selected contractor must be able to meet Agency

Insurance Requirements.

Contractor shall procure and maintain for the duration of the contract insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder and the results of that work by the Contractor, his agents, representatives, employees or subcontractors.

Any questions or concerns regarding insurance coverage should be discussed with

SHRA’s General Counsel or Risk Management. Work shall not proceed until insurance issues/ concerns are resolved.

During the term of the contract, the vendor shall maintain the following insurance coverage from insurance providers licensed to do business in California and having a

Best’s rating of at least A-VII, or a rating of such other rating service as the Agency, in its sole discretion, shall require.

Basic Requirements:

• Named certificate holder on all certificates of insurance shall be:

Sacramento Housing and Redevelopment Agency and Its

Constituent Entities

801 12th Street

Sacramento, CA 95814

• Certificates of Insurance shall include applicable endorsements. Insurance certificates shall not be accepted without the required endorsements. Further guidance of required endorsements is outlined below.

• Proper notification of cancellation of coverage is required. Contractors are required to provide notice of cancellation within ten (10) days for non-payment, and within thirty (30) days for all others.

o Failure to maintain the required insurance coverage is a material breach of the Contract. Agency shall, nevertheless, have the right, without obligation, to pay any delinquent insurance premiums and any other charges to reinstate or maintain the required insurance policies and coverage. Vendor must immediately reimburse Agency for any and all costs incurred by Agency in obtaining or maintaining such insurance. If Agency does incur such costs, Agency shall have the right to withhold such amount from any payment due to the vendor under the Contract and to reduce the compensation payable to the vendor under the Contract by such amount.

• Any deductibles or self-insured retentions must be declared to and approved by the Agency.

4.2. 4.2. ................................ Service Contract and Supply Contract Insurance Requirements

▪ Commercial General Liability: A policy of comprehensive general liability insurance which shall include, without limitation, coverage for contractual liability, public liability and property damage, written for not less than the single limit liability coverage stated.

• Requirements:

o Limits shall be no less than:

▪ $1,000,000 per occurrence for all covered losses

▪ $2,000,000 general aggregate o Deductible shall be $5,000 or less o Endorsements:

▪ ISO Form CG 00 01 or equal equivalent

▪ ISO Form CG 20 10 or equal equivalent

• Projects over one million dollars are subject to Agency General

Counsel determination of alternate limits.

▪ Automobile Liability: Required if motor vehicles are used in performing services in connection with contract. Contractor shall provide automobile liability coverage for owned, non-owned, and hired automobiles.

o Requirements:

▪ Limits shall be no less than: $1,000,000 per accident

▪ Deductible shall be $5,000 or less

▪ Deductible shall be $5,000 or less o Requests:

▪ ISO Form CG 00 01 or equal equivalent

▪ ISO Form CG 20 10 or equal equivalent

▪ Workers Compensation and Employers Liability Insurance: California law requires a company to have Workers Compensation insurance if they have one (1) or more employees.

▪ Requirements:

• Limits shall be no less than $1,000,000 per accident or disease.

• Coverage is required whether the employee is full-time, part-time, temporary, or a family member of the owner. All employees of a company as legally defined including corporate officers and directors must be included in the

Worker’s Compensation policy unless they are owners of the firm. An owner of a firm is defined as having a 25% interest in the firm.

▪ Professional Liability: Required for all professional services provided, including but not limited to: accountant, architect, attorney, claims administration firms, consultants, insurance brokers, engineers, financial advisors, or other person who maintains a professional license.

• Limits shall be no less than:

o $1,000,000 per claim o $1,000,000 aggregate

• Contractor shall maintain professional liability insurance that insures against professional errors and omissions that may be made in performing the Services to be rendered in connection with this

Agreement.

• Any policy inception date, continuity date, or retroactive date must be before the effective date of this agreement, and Contractor agrees to maintain continuous coverage through a period no less than three years after completion of the services required by this agreement.

▪ Cyber Liability: Required if PII attachment is included with contract.

Required if service or product provided include electronic activities which may be vulnerable to data breaches of personal information.

• Requirements:

o Limits shall be no less than: $1,000,000 per claim o Policy shall include coverage through a third party as a cloud provider o Coverage shall be sufficiently broad to respond to the duties and obligations as is undertaken by Vendor in this agreement and shall include, but not be limited to, claims involving infringement of intellectual property, including but not limited to infringement of copyright, trademark, trade dress, invasion of privacy violations, information theft, damage to or destruction of electronic information, release of private information, alteration of electronic information, extortion, and network security.

o The policy shall provide coverage for breach response costs as well as regulatory fines and penalties, and credit monitoring expenses with limits sufficient to respond to these obligations.

o Products and Completed Operations: Evidenced In Commercial

General Liability o Required for contracts with operations where product is made for, sold to, or distributed to Agency

• Requirements:

o Limits shall be no less than: $1,000,000 per claim o Deductible shall be $25,000 or less

5. 5. .................................................................................... Contract

It is the intent of the Agency to award one (1) contract to one (1) contractor for Actuarial Services specified in this RFP document. The contract shall be for an initial period ofone (1) year with the option to add up to four (4) additional periods. Provided, however, that under no circumstances shall the Term, as extended, exceed a total of 5 years. The additional periods are at the sole discretion of THE AGENCY based on the contractor’s performance and the Agency’s needs. Should THE AGENCY choose to exercise its option to extend the contract, the selected contractor will be given the opportunity to amend the annual fees after the initial term as part of their submittal to this RFP. Contractor shall inform THE

AGENCY at least sixty (60) calendar days prior to contract expiration of their desire to revise the proposed fees for the upcoming year. Contractor shall provide documentation supporting their request for fee revisions that there have been substantial changes in the business economic conditions that would warrant fee increases (i.e. substantial increases in fuel costs, parts/materials, etc.) before any revisions shall be considered. The Agency, at its exclusive discretion, can approve, negotiate, or decline the proposed fee revisions.

The services under this contract may be used by any department, division, or legal entity of the Agency.

Prospective Contractors are advised to review the contract agreement and attachments before submitting their proposals. A sample of the contract is provided as under#Attachments.

https://procurement.opengov.com/portal/shra/projects/261651/document?section=2510772

6. 6. ............................................................................ Agency Contact

All questions, requests for clarification, and submittal procedures, requirements and selection procedures concerning this RFP are to be submitted no later than 4:00 pm on Tuesday, October 20, 2026, via

OpenGov:

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

A. Agency Contact:

o Keith Peloquin – Compliance/Procurement Analyst o (916) 449-6296 o E-Mail: kpeloquin@shra.org

Written replies to all inquiries will be posted in OpenGov. If it becomes necessary to revise any part of this

RFP, an addendum to the RFP will be issued via OpenGov no later than 4:00 pm on Thursday, October

22, 2026.

Do not contact other Agency employees or Selection Committee members regarding this project or the selection procedures. Any communication with other Agency employees regarding this RFP, its scope, technical specs or submittal requirements is grounds for disqualification from this RFP. The Agency will not be responsible for oral or other explanations / interpretations of the RFP document or procedures.

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

7. 7. .............................................. Time and Place for Submission of Proposal

Contractors responding to this RFP shall review the specific submittal requirements and questions below, and submit their proposal via OpenGov:

All proposals must be received no later than3:00 pm onThursday, October 29, 2026. If the proposal is late or incomplete, that firm may be eliminated from consideration. Proposals will ONLY be accepted through OpenGov, NO EXCEPTIONS.

OPENGOV NOTE: When uploading your documents to OpenGov, please allow sufficient time to complete the process: Once the clock turns 3:00 pm your submittal will not be accepted if you are in the process of uploading. For technical issues relating to your proposal upload, please contact OpenGov

Customer Support (while logged in) using the real-time chat (blue bubble) located on the bottom right-hand corner of the screen, or via email at procurement-support@opengov.com.

After selection and execution of the contracts, all information and materials provided in each submittal received is subject to disclosure through a Public Records Request pursuant to the California Public

Records Act.

8. 8. ........................................... Proposal Submittal Format and Requirements

Submittals of Part I below are to be standard sized (8.5” x 11”) pages and include page numbers. While concise responses are encouraged; each item listed below must be addressed thoroughly. To assist the

Selection Committee in its review, please organize your submission according to the numbered format provided, clearly identifying each item in sequence.

Important Note: Do not include any pricing information in Part I. Inclusion of pricing may result in disqualification of your submission.

8.1. 1. ........................................................................................ Technical Proposal There shall be no cost/fee information submitted in the Technical Proposal. Any cost/fee information submitted in Part I will be cause for disqualification.

8.1.1. 1.1. Company Introduction* I. Cover Page

II. Table of Contents

i. All pages of the bid, including the enclosures, must be clearly and consecutively numbered and correspond to the Table of Contents.

III. Statement of Experience and Qualifications

a. Business name of the Proposer and legal entity type, such as corporation, partnership, etc.

b. Number of years the Proposer has been in business under the present business name, as well as related prior business names.

c. Statement that the Proposer does not have any commitments or potential commitments that may affect the Proposer’s ability to perform this Contract.

IV. Licenses, Permits and/or Certifications (No. 5 under Vendor Submissions)

*Response required

8.1.2. 1.2. Project Team Organization Chart* Organization chart illustrating the project team shall clearly show the organization of the team and the hierarchy of the members. It must include:

i. Organizational framework for the proposed project team.

ii. Company name and staff name for each role identified in the chart.

iii. Resumes of key personnel, including qualifications, education, and project experience.

iv. Firm’s process or approach for executing the work utilizing staff.

*Response required

8.1.3. 1.3. Proposal Understanding and Plan* Proposal Description

a. A brief synopsis of the Proposer’s understanding of the Agency’s needs and how the Proposer plans to meet these.

b. A detailed statement of the proposed services (and product, if applicable).

c. An explanation of any assumptions and/or constraints.

Work Plan and Schedule

a. A summary of management/work plan for this Project.

b. A project schedule.

Sample of Work

a. An example of the actuarial valuation process and reporting prepared for another client.

Customer References (No. 10 under Vendor Submissions)

a. Provide three (3) references from other local governmental agencies for which the Proposer has performed services of similar size and complexity. Provide Name of Organization, contact Name, Address, Phone Number, Description of Services, and dates services were provided.

*Response required

8.1.4. 1.4. Additional Pricing Information You may provide pricing for any additional services you provide that are not part of the required service in this RFP and would be in addition to the pricing provided in your Pricing Proposal. DO NOT INCLUDE

ANY PRICING IN ANY OF THE TECHNICAL PART OF YOUR PROPOSAL OR YOU WILL BE

DEEMED NON-RESPONSIVE.

9. 9. ........................................................................... Pricing Proposal

PROPOSED FEE SCHEDULE

Line Item Description Unit of

Measure

Proposed Fee

001 GASB 75 reporting package for FYEs 2026 and

Lump Sum

002 Actuarial valuation as of December 31, 2026 Lump Sum

003 GASB 75 reporting package for FYEs 2028 and

Lump Sum

004 Actuarial valuation as of December 31, 2027 Lump Sum

005 GASB 75 reporting package for FYE 2030 Lump Sum

006 Actuarial valuation as of December 31, 2028 Lump Sum

ADDITIONAL SERVICES

Line Item Description Unit of

Measure

Unit Cost No Bid

001 Additional in-person or virtual meeting beyond base scope

Per Hour

002 Additional Board or committee presentation beyond base scope

Per Hour

003 Additional special study or scenario analysis

Per Hour or

Per Study

004 Additional out-of-scope actuarial consulting

Per Hour

10. 10. ............................................................ Selection Process Overview

The Agency’s evaluation of Contractors will be based upon those materials submitted in response to this request for proposals. To be considered in the selection process, each company must submit complete submittals and related materials. The evaluation process is a two stage process as indicated below:

Stage 1:

A Selection Committee will be established according to the Agency’s policy.

Submittals will be received and evaluated to determine if all items requested were submitted. Copies of each complete submittal will be provided to each member of the Selection Committee.

Stage 2:

The Selection Committee will review each submittal individually. It is anticipated that the Selection

Committee will rank the firms and make the final selection directly from the written submittals. Proposers must score 70% or higher for “Part I: Technical Proposal”to be considered responsive. Only responsive proposals will be evaluated for cost.

The Agency reserves the right to request additional information or clarifications from any or all firms before completing an evaluation of the qualifications. Additionally, if deemed necessary and at the sole discretion of the Selection Committee, oral interviews of two or more Contractors determined most qualified for the project will be scheduled at a later date and final selection made after interviews. Upon completion of this process the Contractor deemed most qualified for the project will be selected.

No. Evaluation Criteria Scoring Method Weight (Points)

1. Qualifications, History, and Experience of Company and Team Members

Provides sufficient information to describe the company and demonstrates their structure and experience in order to meet at least the minimum qualifications called for in this RFP.

Points Based 25 (16.7% of Total)

2. Past Successful Performance on Similar

Projects and References

Evaluates successful completion of comparable engagements for governmental agencies of similar size and complexity, including client references and demonstrated ability to meet deadlines, respond to audit inquiries, and provide accurate and usable actuarial work products.

Points Based 25 (16.7% of Total)

3. Project Team, Responsiveness, and

Communication

Evaluates the qualifications and roles of the proposed project team, availability of key personnel, quality-control procedures, responsiveness, ability to meet SHRA’s reporting deadlines, and ability to explain actuarial results clearly to Finance staff, executive management, auditors, and governing bodies.

Points Based 25 (16.7% of Total)

4. Cost/Fee Proposal

Evaluates the competitiveness, completeness, and reasonableness of proposed fees for the required scope, including actuarial valuations, ADC development, annual GASB 75 reporting, meetings, presentations, and audit support.

Reward Average Cost 25 (16.7% of Total)

5. Actuarial Valuation and ADC /

Prefunding Approach

Evaluates the Proposer’s methodology for performing full actuarial valuations and developing Actuarially Determined

Contributions for OPEB prefunding.

Consideration should include the proposed actuarial cost method, assumptions, amortization methodology, treatment of trust assets, development of ADCs by

SHRA’s four designated fund groups, and ability to support long-term funding and budget planning.

Reward Average Cost 25 (16.7% of Total)

6. GASB 75 Reporting, Audit Support, and

Technical Accuracy

Evaluates the Proposer’s approach to annual GASB 75 reporting, including full valuation and roll-forward years, preparation of explicit, implicit, and combined subsidy reports, required schedules and disclosures, reconciliation of results, and coordination with SHRA’s independent auditor.

Reward Average Cost 25 (16.7% of Total)

11. 11. .................................................. Award Notice and Acceptance Period

Notice of Intent to Award the contract will be sent by email to all Contractors submitting a timely proposal.

If the apparent successful Contractor(s) fails to negotiate and deliver an executed contract the Agency may cancel the award and award the contract to the next highest ranked Contractor(s).

Should any Contractor wish to protest the final selection, they shall have five (5) business days from the date of the Notice of Intent of Award to submit a written protest to the Agency. The written protest shall be full and complete; specifying in detail the grounds of the protest and the facts supporting the protest or it will not be considered. Any Contractor who has a legitimate protest must claim to be eligible for award of the contract. Protest letters are to be sent to:

• Sacramento Housing and Redevelopment Agency

• Attn: Procurement & Contracts Manager

• 801 12th Street, 2nd Floor

• Sacramento, CA 95814

• Or by e-mail to: ps@shra.org

All protests shall be resolved in accordance with the Agency’s protest policy and procedures, copies of which are maintained at the Agency and available upon request.

12. 12. ....................................................................... Award of Contract

Following the selection of the most qualified Contractor, a contract will be negotiated and executed. If the

Agency is unable to negotiate a satisfactory agreement with the selected Contractor, it will undertake negotiations with the next ranked Contractor, and so on, until a satisfactory agreement is reached. A sample contract is provided under #Attachments. The prospective firms are advised to review the contract, all of the provisions and attachments to the contract before submitting their proposal.

The full execution of a written contract shall constitute the making of a contract for services and no contractor shall acquire any legal or equitable rights relative to the contract services until the contract has been fully executed by the successful Contractor and the Agency.

https://procurement.opengov.com/portal/shra/projects/261651/document?section=2510772

13. 13. ...................................................................... Mistake in Proposal

If after Proposal Closing Time but prior to a contract award, a proposer discovers a mistake in their proposal that renders the proposer unwilling to perform under any resulting contract, the proposer must immediately notify the Agency in writing and request to withdraw the proposal. The notice shall be addressed to the Contracting Officer, signed by a duly authorized officer of the proposer and delivered to the Proposal Submittal Address listed. It shall be solely within the Agency’s discretion as to whether withdrawal will be permitted.

14. 14. ........................................................... Error in Submitted Proposals

If an error is discovered in a vendor’s proposal, the Agency may at its sole option retain the proposal and allow the proposer to submit certain arithmetic corrections. the Agency may, at its sole option, allow the proposer to correct obvious clerical errors. In determining if a correction will be allowed, the Agency will consider the conformance of the proposal to the format and content required by the solicitation, the significance and magnitude of the correction, and any unusual complexity of the format and content required by the solicitation.

If the proposer’s intent is clearly established based on review of the complete proposal submitted, the

Agency may, at its sole option, allow the proposer to correct an error based on that established intent.

15. 15. ................................................ Agency’s Rights, Options, and Policies

A. The Agency reserves the right to decide that one firm is more responsive than the others and to select after review of the written submittals only.

B. The Agency reserves the right to reject any and all submissions, request additional information, amend the project schedule, or issue additional requirements throughout the selection process. It is the responsibility of the Contractor to verify that all necessary information is submitted by the due date.

C. The Agency reserves the right to modify any portion, postpone or cancel this RFP at any time, and/or reject any and all submissions without indicating any reason. No submission documents will be returned.

D. The Agency reserves the right to reject individual team members, firms, and request substitution without indicating any reason prior to contract award;

E. The Agency highly encourages participation by local qualified firms and Contractors in all aspects of contracting unless the project requires unusual or highly specialized services.

F. The Agency actively encourages participation of small, minority and women owned business enterprises in all aspects of contracting.

G. No compensation is offered for any work related to this selection process. Submissions are entirely voluntary. All original documents including electronic files become the property of the

Agency. If any submission is late or incomplete in any way, that Contractor will be…