C250213_PS.pdf

This is an interoffice memorandum from the Orange County Transportation Authority (OCTA) establishing the procurement schedule for an informal Request for Proposals (RFP) for actuarial valuation services. The RFP was issued on March 24, 2026, with written questions due April 1, 2026, and OCTA's responses provided April 8, 2026. Proposals were due April 15, 2026, at 2:00 p.m., followed by a pre-evaluation meeting on April 30, 2026, and evaluation committee review on June 1, 2026. The contract was executed June 1, 2026. The scope of work requires actuarial valuations of OCTA's Retiree Health Insurance Plan (an OPEB plan) and Additional Retiree Benefit Account (ARBA), a supplemental retirement benefits plan serving 879 active retirees and 1,278 active employees. Valuations must be performed as of January 1, 2026, January 1, 2028, and January 1, 2030, with draft reports due within five months of each calendar year-end, annual roll-forward reports for fiscal years ending June 30, 2026 through 2030, due within four weeks of year-end, and final reports due within two weeks of draft acceptance. The contract term runs through May 31, 2031.

The contract is awarded on a firm fixed-price basis of $49,500 for the entire five-year term, covering all three full valuations and five annual roll-forward reports, with no renewal options specified. The selected consultant must maintain commercial general liability insurance 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. Evaluation criteria include qualifications and experience, staffing, work plan, cost and price proposal, and any submitted exceptions or deviations.