C250213_R000596.pdf

This is a Purchase Requisition document from the Orange County Transportation Authority (OCTA) for actuarial valuation services related to the agency's retiree healthcare and benefits programs. OCTA is soliciting proposals for actuarial valuations of its Retiree Health Insurance Plan (OPEB) and Additional Retiree Benefit Account (ARBA) under an informal Request for Proposals process. The scope of work requires actuarial valuations as of January 1, 2026, January 1, 2028, and January 1, 2030, with draft reports due within five months of each calendar year-end and annual roll-forward reports for fiscal years ending June 30 due within four weeks of year-end. Final reports incorporating OCTA feedback must be delivered within two weeks of draft acceptance. The consultant must also provide oral presentations to management and remain available for related inquiries. The contract term extends through May 31, 2031, and proposals were due April 15, 2026.

The total contract value is a firm fixed price of $49,500 for the entire five-year term, covering all three full valuations and five annual roll-forward reports. OCTA serves approximately 1,400 employees, 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. 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 proposals must certify non-involvement with Ukraine/Russia-related economic sanctions imposed by California or the United States Government under specified Presidential Executive Orders. Electronic proposal submission is mandatory, and evaluation criteria include qualifications and experience, staffing, work plan, and cost proposal.