Attachment B Technical Approach.docx
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- Solicitation number
- 120961 O5
- Issued by
- Lancaster County, Nebraska
About this file
Attachment B Technical Approach is a response document for Request for Proposal #120961 O5 issued by the Nebraska Department of Administrative Services, State Purchasing Bureau for the Nebraska Public Employees Retirement Systems (NPERS). The procurement seeks comprehensive actuarial consulting services for six retirement systems and one deferred compensation plan, serving approximately 180,000 plan members with $21 billion in assets. Required services include annual valuations of assets and liabilities, GASB compliance services, projection services, actuarial experience studies, and benefit adequacy studies. The response deadline is March 21, 2025 at 2:00 PM Central Time, with an initial three-year contract term and two optional three-year renewal periods. The awarded vendor must begin services by July 1, 2025, and attend approximately 15 in-person business days of meetings annually in Lincoln.
The RFP requires vendors to demonstrate substantial expertise in public pension fund actuarial consulting, with mandatory qualifications including at least three public pension fund clients by December 31, 2024, five years of organizational experience, and a lead consultant with ten years of public pension fund actuarial consulting experience. Bidders must have professional staff with at least five years of actuarial science experience and credentials such as Fellow or Associate of Society of Actuaries. The lead consultant must be a member of the American Academy of Actuaries with legislative testimony experience. While no specific budget range is disclosed, the comprehensive scope suggests a substantial contract value. All proposed costs must be all-inclusive, covering travel, meetings, and expenses, with no additional reimbursement anticipated. The State reserves the right to contract with other vendors for similar services and potentially extend the contract period beyond the initial termination date.
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Text version
ATTACHMENT B
Technical Approach
Request for Proposal Number 120961 O5
Bidder Name: ______________________________
Bidders shall complete and submit a Technical Approach Document to provide Actuarial Services for the Nebraska Public Employees Retirement Systems (NPERS). Bidders are required to describe in detail how their proposed solution meets the specifications outlined within each Requirement.
The Technical Approach Document must indicate how the bidder intends to comply with the requirement and the effort required to achieve that compliance. It is not sufficient for the bidder to simply state that it intends to meet the requirements of the RFP. The State will consider any such response to the requirements in this RFP to be non-responsive. The narrative should provide the State with sufficient information to differentiate the bidder’s solution from other bidders’ solutions.
TECHNICAL APPROACH
1. Describe bidder’s understanding of the Scope of Work for this RFP.
Bidder response:
2. Describe bidder’s approach for providing Actuarial Consulting Services for public pension funds.
Bidder response:
3. Describe bidder’s approach for providing Actuarial Valuation Services for defined benefit and cash balance public pension funds. Give examples.
Bidder response:
4. Describe bidder’s approach for providing GASB Services for single and multiple employer public pension funds. Give examples.
Bidder response:
5. Describe bidder’s approach for providing Projection Services for public pension funds. Give examples.
Bidder Response:
6. Describe bidder’s approach for providing Actuarial Experience Studies for public pension funds. Give examples.
Bidder Response:
7. Describe bidder’s approach for providing Benefit Adequacy Studies for public pension funds.
Bidder Response:
8. Describe bidder’s approach for providing Supplemental Services for public pension funds.
Bidder Response:
9. Describe bidder’s experience at providing Legislative Expertise for public pension funds.
Bidder Response:
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