C250213_Insurance_RM_Approval_02-05-26.pdf

This file is an email chain documenting insurance and risk management approval for an informal Request for Proposals (RFP) issued by the Orange County Transportation Authority (OCTA) for actuarial valuation services. The RFP seeks qualified firms to provide actuarial valuations of OCTA's retiree healthcare program (an OPEB plan covering post-employment healthcare) and the Additional Retiree Benefit Account (ARBA), a supplemental retirement benefits plan. Valuations are required as of January 1, 2026, January 1, 2028, and January 1, 2030, with draft actuarial valuation reports due within five months of each calendar year-end and annual roll-forward reports for fiscal years ending June 30, 2026 through 2030, due within four weeks of year-end. Final reports incorporating OCTA feedback must be submitted within two weeks of draft acceptance. The consultant must also provide oral presentations to management and remain available for related inquiries. The proposal deadline was April 15, 2026, and the contract term extends through May 31, 2031. On February 5, 2026, Senior Claims Representative Regie Peaslee of OCTA's Risk Management department approved the Scope of Work and Insurance Requirements Memo submitted by Senior Contract Administrator Gina Torres, confirming alignment on language and coverage terms.

The contract is valued at a firm fixed price of $49,500 for the entire five-year term, covering all three full actuarial valuations and five annual roll-forward reports. OCTA employs approximately 1,400 people, with the Retiree Healthcare Program serving multiple employee classifications and the ARBA plan currently covering 879 active retirees and 1,278 active employees as of June 30, 2023. Required insurance coverage includes commercial general liability of $1,000,000 per occurrence, automobile liability of $1,000,000 combined single limit, workers' compensation as required by California law, employers' liability of $1,000,000 per accident, and professional liability of $1,000,000. All proposers must certify non-involvement with Ukraine/Russia-related economic sanctions imposed by the State of California or the United States Government under Presidential Executive Orders 13660, 13661, 13662, 13685, and 14065. Electronic proposal submission is mandatory, with evaluation criteria including qualifications and experience, staffing, work plan, cost and price proposal, and any submitted exceptions or deviations.