COST PROPOSAL.docx
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- Solicitation number
- 120961 O5
- Issued by
- Lancaster County, Nebraska
About this file
This is a cost proposal template for actuarial services for the Nebraska Public Employees Retirement Systems (NPERS). The services requested include consultation and reports for annual valuations of multiple retirement plans including the School Defined Benefit Plan, Omaha School Defined Benefit Plan, Judges Defined Benefit Plan, Patrol Defined Benefit Plan, State Cash Balance Plan and ERBF, and County Cash Balance Plan and ERBF. The initial contract term is three years with two optional three-year renewal periods, potentially extending the contract to nine years total. Additional required services include GASB 67 and 68 consultation and reports, annual 5-year and 30-year projection reports, projection modeling software, and specific actuarial experience studies scheduled for 2025, 2028, 2029, 2032, and 2033.
The cost structure requires bidders to provide fixed prices for each service component across all contract years, including renewal periods. Supplemental services must be quoted with specific hourly rates for different position levels including Consulting Actuary, Actuary Manager, Actuary Assistant, and Actuary Support Staff, with no hourly ranges accepted. All costs must be all-inclusive, with neither the State, the PERB, nor NPERS responsible for travel, out-of-pocket, or other expenses of the actuarial consultant/firm.
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Text version
120961 O5
COST PROPOSAL
ACUTARIAL SERVICES FOR THE NEBRASKA PUBLIC EMPLOYEES RETIREMENT SYSTEMS (NPERS)
These costs shall be all-inclusive. Neither the State, the PERB, nor NPERS will be responsible for travel, out-of-pocket, or other expenses of the actuarial consultant/firm.
Bidder Name: _________________________
| Description |
| Unit of Measure |
| Initial Year One |
| Initial Year Two |
| Initial Year Three |
| Consultation Service and Reports for the Annual Valuation of the School Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Omaha School Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Judges Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Patrol Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the State Cash Balance Plan and ERBF |
| $ |
| Consultation Service and Reports for the Annual Valuation of the County Cash Balance plan and ERBF |
| $ |
Consultation Services and Reports for GASB 67
| Consultation Services and Reports for GASB 68 |
| $ |
| Annual 5-year projection report |
| EA |
| Annual 30-year projection report |
| EA |
| Projection modeling software |
| YR |
| 2025 Actuarial Experience Study for Omaha School Defined Benefit Plan |
| EA |
| One Time Benefit Adequacy Study to be completed as required by NPERS |
| EA |
OPTIONAL SUPPLEMENTAL SERVICES:
PLEASE LIST ALL POSITIONS THAT MIGHT BE UTILIZED FOR ADDITIONAL SUPPLEMENTAL SERVICES. (Add rows as needed.)
Hourly ranges will not be accepted. Please break out positions if needed. For example, Consulting Actuary I, Consulting Actuary II, Consulting Actuary III, etc.
| Position Title |
| Initial |
Year One Hourly Rate Initial Year Two Hourly Rate Initial Year Three Hourly Rate
Consulting Actuary
Actuary Manager
Actuary Assistant
Actuary Support Staff
OPTIONAL THREE (3) YEAR - RENEWAL 1
| Description |
| Unit of Measure |
| Optional Renewal One |
Year Four Optional Renewal One Year Five Optional Renewal One Year Six
| Consultation Service and Reports for the Annual Valuation of the School Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Omaha School Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Judges Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Patrol Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the State Cash Balance Plan and ERBF |
| $ |
| Consultation Service and Reports for the Annual Valuation of the County Cash Balance plan and ERBF |
| $ |
Consultation Services and Reports
| Consultation Services and Reports for GASB 68 |
| $ |
| Annual 5 year projection report |
| EA |
| Annual 30 year projection |
| EA |
| Projection modeling software |
| YR |
| 2028 Actuarial Experience Study for School, Judges, State Patrol, State Cash Balance, and County Cash Balance Plans |
| EA |
| 2029 Actuarial Experience Study for Omaha School Defined Benefit Plan |
| EA |
OPTIONAL SUPPLEMENTAL SERVICES DURING OPTIONAL RENEWAL PERIOD ONE:
PLEASE LIST ALL POSITIONS THAT MIGHT BE UTILIZED FOR ADDITIONAL SUPPLEMENTAL SERVICES (Add rows as needed.)
Hourly ranges will not be accepted. Please break out positions if needed. For example, Consulting Actuary I, Consulting Actuary II, Consulting Actuary III, etc.
| Position title |
| Optional Renewal Two - Year Seven |
Hourly Rate Optional Renewal Two - Year Eight Hourly Rate Optional Renewal Two - Year Nine
Consulting Actuary
Actuary Manager
Actuary Assistant
Actuary Support Staff
OPTIONAL THREE (3) YEAR - RENEWAL 2
| Description |
| Unit of Measure |
| Optional Renewal Two |
Year Seven Optional Renewal Two Year Eight Optional Renewal Two Year Nine
| Consultation Service and Reports for the Annual Valuation of the School Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Omaha School Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Judges Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the Patrol Defined Benefit Plan |
| $ |
| Consultation Service and Reports for the Annual Valuation of the State Cash Balance Plan and ERBF |
| $ |
| Consultation Service and Reports for the Annual Valuation of the County Cash Balance plan and ERBF |
| $ |
Consultation Services and Reports
| Consultation Services and Reports for GASB 68 |
| $ |
| Annual 5-year projection report |
| EA |
| Annual 30-year projection |
| EA |
| Projection modeling software |
| YR |
| 2032 Actuarial Experience Study for School, Judges, State Patrol, State Cash Balance, and County Cash Balance Plans |
| EA |
| 2033 Actuarial Experience Study for Omaha School Defined Benefit Plan |
| EA |
OPTIONAL SUPPLEMENTAL SERVICES DURING OPTIONAL RENEWAL PERIOD TWO:
PLEASE LIST ALL POSITIONS THAT MIGHT BE UTILIZED FOR ADDITIONAL SUPPLEMENTAL SERVICES (Add rows as needed.)
Hourly ranges will not be accepted. Please break out positions if needed. For example, Consulting Actuary I, Consulting Actuary II, Consulting Actuary III, etc.
| Position title |
| Optional Renewal Two - Year Seven |
Hourly Rate Optional Renewal Two - Year Eight Hourly Rate Optional Renewal Two - Year Nine
Consulting Actuary
Actuary Manager
Actuary Assistant
Actuary Support Staff
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