Final_RFP_128_2600000213_1_SO_FORM.PDF

Document ID: RFP 128 2600000213 Page: 1

Commonwealth of Kentucky

SOLICITATION

Modification: No Version #:

TITLE: Actuarial Service Contract for KRGF

Date Issued:

04/01/2026 Record Date:

03/27/2026

Solicitation Closes Date:

04/27/2026 Time:

11:00

Solicitation No:

RFP 128 2600000213

Online Bidding Prohibited: No For Information Call:

Natalie Roark 502-782-0538

Bid Receiving Location:

Bid Receiving

See Terms & Conditions for Bid Submission Instructions

Other KY

Vendor Customer Number:

Vendor Name:

Phone Number:

Fax Number:

Email Address:

Ordering

Address:

City, State, Zip:

Contact Name:

Contact Email:

Contact Phone Number:

Payment

Address:

City, State, Zip:

Contact Name:

Contact Email:

Contact Phone Number:

Ownership Type

__ Sole Proprietorship __ Partnership __ Corporation __ Other_________________________

SIGNATURE OF AUTHORIZED AGENT IS REQUIRED UNLESS RESPONSE

IS SUBMITTED ELECTRONICALLY. FAILURE TO SIGN SHALL RENDER

THE BID INVALID.

Signature X_________________________________________ FEIN#____________________ Date____________

All offers subject to all terms and conditions contained in this solicitation.

Document ID: RFP 128 2600000213 Page: 2

Line Items

Commodity Group: Default

Line CL Description Quantity UOM Unit Cost Line Total or Contract Amnt

1 Actuarial Services for Kentucky Guaranty Fund

Comm Code Comm Description Manufacturer Model # Manuf Part #

94612 Actuarial Services

Extended Description The Kentucky Office of the Reclamation Guaranty Fund Commission, of the Energy and Environment Cabinet (EEC), is requesting actuarial services to determine the actuarial soundness, as defined in KRS 350.500(1), of the Kentucky Reclamation Guaranty Fund (KRGF). This request is in accordance with the mandate of KRS 350.509(4).

This study will assist the Commission in determining the solvency and sustainability of the KRGF.

The actuary will be tasked with making professional determinations and provide written recommendations to the KRGF Commission concerning the risk, viability, impact and maintenance of the KRGF. Specifically, the actuary will perform the following functions: perform statistical calculation of risk;

evaluate the Fund structure, funding schemes and financial soundness of the Fund; evaluate and analyze data provided by the Kentucky, Department for Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF), Office of the Reclamation Guaranty Fund (ORGF) and/or data acquired by the actuary in order to summarize Fund activity and make recommendations on the best operation of the KRGF. The actuary also will provide analysis on mechanisms in place to provide adequate financial oversight to the Fund.

Shipping Information

Billing Information Office of the Reclamation Guaranty Fund - ORGF Natalie Roark 300 Sower Blvd, 2nd Floor

Frankfort KY 40601

Document ID: RFP 128 2600000213 Page: 3

Submission Checklist

The following items will be required to be submitted with bid:

Item

Revised February 2026

PROPOSAL SUBMISSION CHECKLIST

The vendor MUST include the following with the proposal submission.

If the items highlighted below are not submitted with the proposal submission, the Commonwealth MUST deem the proposal non-responsive and SHALL NOT consider for award.

All other items MUST be submitted prior to award.

SIGNED AND COMPLETED SOLICITATION –Section(s) 8.00 and 8.10 of this

RFP (not required if submitting electronically)

*PROPOSED SOLUTION (TECHNICAL) UNDER SEALED COVER AND BY

CLOSING DATE --Section(s) 8.00 and 8.10 of this RFP

*PROPOSED SOLUTION (COST) UNDER SEALED COVER AND BY CLOSING

DATE -- Section(s) 8.00 and 8.10 of this RFP

TRANSMITTAL LETTER – Section 8.20 of this RFP

PROOF OF REGISTRATION WITH SECRETARY OF STATE BY A FOREIGN

ENTITY -- Section 8.00 of the Personal Service Contract Terms and Conditions of this RFP

REQUIRED AFFIDAVIT(S) – Section 8.20 of this RFP

*The Commonwealth defines SEALED as “a closure that must be broken to be opened and that thus reveals tampering” (Merriam-Webster Dictionary, https://www.merriam-webster.com/ dictionary/seal

Document Phase Document Description Page 4

2600000213 Final Actuarial Service Contract for KRGF Total Pages: 36

REQUEST FOR PROPOSAL

FOR

PERSONAL SERVICE CONTRACT

DEPARTMENT FOR NATURAL RESOURCES KENTUCKY RECLAMATION

GUARANTY FUND

ACTUARIAL SERVICES FOR KENTUCKY RECLAMATION GUARANTY FUND

(KRGF)

RFP-128-2600000213

This document constitutes a Request for Proposals for a Personal Service Contract from qualified individuals and organizations to furnish those services as described herein for the Commonwealth of Kentucky, Department of Natural Resources (DNR), Kentucky Reclamation Guaranty Fund

(KRGF).

Offerors are advised that any personal service contract resulting from this RFP must comply with all applicable provisions of KRS 45A and KRS 12.210 prior to becoming effective.

A contract, based on this RFP, may or may not be awarded. Any contract award from this RFP is invalid until properly approved and executed by the Finance and Administration Cabinet and filed with the Legislative Research Commission, Government Contract Review Committee.

1.00 Purpose and Background

The Kentucky Reclamation Guaranty Fund Commission, of the Energy and Environment Cabinet (EEC), is requesting actuarial services to determine the “actuarial soundness” of the Kentucky Reclamation Guaranty Fund (KRGF), as defined in KRS 350.500(1) and in accordance with the mandate of KRS 350.509(4). This study will assist the Commission in determining the solvency and sustainability of the KRGF. The actuarial study also will assist the KRGF Commission in determining the adequacy of the tonnage rates and acreage fees in sustaining the KRGF on an annual basis.

The KRGF was established on July 1, 2013, by House Bill 66 (now KRS 350.500 – 350.521) as a coal mining reclamation account for the purpose of guaranteeing reclamation of coal mine permits for which the underlying performance bond has been forfeited. The KRGF is an account, requiring mandatory participation by the coal industry that will cover the excess costs of reclamation for forfeited coal mining operations where the performance bond is insufficient for the Commonwealth to complete reclamation to regulatory standards. The KRGF is maintained through onetime membership fees paid by participating coal companies, the annual assessment and collection of coal tonnage fees for producing mine permits and acre fee payments for dormant and non-production operations, the collection of late fee payments for delinquent members, receiving monies from performance bonds forfeited by order of the Cabinet; accruing interest on monies in the Fund and

Document Phase Document Description Page 5 receiving a share of monies collected from violations and penalties issued by the Division of Mine Reclamation and Enforcement.

Each coal operator in Kentucky is required to post a reclamation bond prior to the issuance of a mining permit. Kentucky statutes require the reclamation bond for each operation to be sufficient to guarantee that the Commonwealth has adequate funds to reclaim the site if the bond is forfeited.

However, the coal industry is heavily impacted by economic and environmental factors that can result in insolvency and bankruptcy. Such circumstances may preclude a coal company’s ability to successfully complete all regulatory mandated reclamation obligations on a mine permit, resulting in the forfeiture of the performance bond. Potentially, such sites may have an inadequate bond amount to cover reclamation costs and as a result, money from the fund would be utilized to cover the difference.

2.00 Scope of Work

The actuary will be tasked with making professional determinations and provide written recommendations to the KRGF Commission concerning the risk, viability, impact and maintenance of the KRGF. Specifically, the actuary will perform the following functions: perform statistical calculation of risk; evaluate the KRGF structure, funding schemes and financial soundness of the KRGF; evaluate and analyze data provided by the Kentucky, Department for Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF), Office of the Reclamation Guaranty Fund (ORGF) and/or data acquired by the actuary in order to summarize KRGF activity and make recommendations on the best operation of the KRGF. The actuary also will provide analysis on mechanisms in place to provide adequate financial oversight to the KRGF.

The actuary shall perform the following tasks upon successful award and subsequent renewals of the contract:

Phase I - Actuarial and Funding Viability Study

Kentucky’s existing statutorily-based Reclamation Guaranty Fund shall be evaluated, with the Actuarial Service Vendor acquiring and evaluating KRGF Operating and Financial information from the Office of the Reclamation Guaranty Fund (ORGF). The actuary will identify and evaluate any positive or negative impact on the current management, funding, financial soundness, and operation of the KRGF. The KRGF currently has 1,132 inspectable units and over 132 active member entities. The current commercial bonding liability for coal operations in Kentucky is $709,205,235.00 and is expected to remain at or near this level for the next 2 years.

The evaluation shall focus on the KRGF’s structure, funding schemes, and financial soundness with a critical evaluation identifying and outlining differences between the current liabilities and obligations of the KRGF with potential liabilities and obligations in the future. More specifically, detailed analysis will be made by the actuary and conveyed to the KRGF regarding the Fund’s ability to keep pace with potential future liabilities and obligations. The actuary will provide expert advice and any necessary recommendations on the operation of the KRGF in Kentucky.

Document Phase Document Description Page 6

The focus and intent of the Kentucky Reclamation Guaranty Fund is to supplement or act as a backup to the individual reclamation bonds for each mine permit currently obtained from commercial sources to meet permit requirements. Only in the event these commercially obtained bonds are forfeited and determined to be inadequate to provide necessary reclamation will Kentucky Reclamation Guaranty Funds be utilized. As such, the Kentucky Reclamation Guaranty Fund serves as reinforcement and not a replacement, of this structure. The Actuarial Service Vendor will provide specific focus during this phase in support of this effort.

The actuary will evaluate and analyze data provided by the Kentucky Department for Natural Resources (DNR), Kentucky Reclamation Guaranty Fund Commission (KRGF) and the Office of the Reclamation Guaranty Fund (ORGF) utilizing (SMIS, eMARS, Staffware, DocTree, Oracle and D-base format) and data acquired by the actuary in order to summarize options and make recommendations on the best operational methods of the Kentucky Reclamation Guaranty Fund

(KRGF).

A. Preliminary data needed for this task identified by DNR/KRGF/ORGF is listed below:

I. Data from the Kentucky Surface Mining Information System (SMIS) on past and current coal mining permits and their bonds;

II. Current Kentucky bonding requirements;

III. Data concerning reclamation cost estimates on historic bond forfeitures, and past and current bond forfeiture reclamation contracts on forfeited permits;

IV. Data from the Kentucky Surface Mining Information System (SMIS) and the Kentucky Enhanced Management Administrative Reporting System (eMARS) on revenues received, deposited; transferred, refunded and on hand in the Fund;

V. Data from the Kentucky Enhanced Management Administrative Reporting System (eMARS) on expenditures of the Fund;

VI. Data and information from reports on Kentucky’s reclamation bonding from Federal Office of Surface Mining (OSM);

VII. Data concerning the most recent bonding protocols implemented by DNR;

VIII. Data concerning the financial soundness of the Kentucky coal industry as necessary;

IX. Specify in detail other data to DNR/KRGF/ORGF that needs to be provided in order to support the operation of a reclamation guaranty fund;

Document Phase Document Description Page 7

X. All data furnished by DNR/KRGF/ORGF will be in existing report formats. Either in paper form or by utilizing customized applications- SMIS, eMARS, DocTree, Staffware, Oracle and D-base.

The actuary shall provide a written report containing actuarial analysis of the collected data and an evaluation of the funding options and overall feasibility of the Kentucky Reclamation Guaranty Fund.

B. The analysis shall contain at a minimum:

I. An evaluation and discussion of the minimum bond amounts specified in 405 KAR 10:015, Sections 7 and 8 to determine if the amounts are adequate due to inflation and increases in reclamation costs;

II. A discussion of the potential risks and liabilities (past, present, and future) to the Kentucky Department for Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF), posed by the current bonding program, the current bonding liability, the current KRGF funding schemes and the financial soundness of the

KRGF;

III. Analysis of the effect of the current protocols and current KRGFstructure upon the risk and liabilities (past, present, and future) to the DNR/KRGF for the existing Reclamation Guaranty Fund;

IV. A detailed review of the prospective loss exposure, historic loss patterns, frequency and severity of loss activity, and estimates of ultimate incurred losses under expected and adverse scenarios for the existing Reclamation Guaranty Fund;

V. A detailed review of existing funding levels for the existing Reclamation Guaranty

Fund based on expected, known liabilities and production trends in the coal industry;

VI. Funding options available to capitalize the pool over various time frames based on production fees that may vary with operator compliance, coal production, and type of mining operation, and other scenarios outlined by DNR/KRGF;

VII. An outline of funding maintenance options available to DNR/KRGF for the KRGF, sufficient to provide solvency to two (2) years in the future, including net present value cash flow analysis and proforma financial statements for KRGF;

VIII. A thorough analysis of the present financial soundness of the KRGF;

IX. A detailed analysis of the administrative structure of the KRGF;

Document Phase Document Description Page 8

X. Future funding estimates for the cost to administer the KRGF;

XI. A cost/benefit analysis and statement of fiscal impact outlining differences between the current liabilities and obligations of the KRGF with potential liabilities and obligations in the future;

XII. A detailed analysis of the KRGF’s ability to keep pace with potential future liabilities and obligations;

XIII. A written report summarizing data, recommendations, and conclusions;

XIV. Report should be in a Word format, PDF format, and editable Excel compatible format. Reports will be given to the Agency contact in paper format and by e-mail.

The Kentucky Department for Natural Resources (DNR), Kentucky Reclamation Guaranty Fund Commission (KRGF) and the Office of the Reclamation Guaranty Fund (ORGF), along with the actuary services provider, shall have a minimum of three (3) progress meetings at a site selected by DNR/KRGF/ ORGF. The actuary, if necessary, shall be available for meetings with senior Administration personnel.

Phase II – Maintenance and Support

Shall be performed for as long as the contract is in force.

The actuary shall provide advice on the implementation of any recommended changes to the overall risk, viability, impact, structure, maintenance and operation of the KRGF and will include ongoing support and maintenance as required by DNR/KRGF/ORGF. The actuary shall, if necessary, be available for testimony and provide background information and source methodology utilized to arrive at the completed study for the remainder of the current contract period for which the study was done. The KRGF does not envision more than 40 hours of time needed for such purposes in Phase II.

All staff changes should be brought to the attention of the Agency Contact. DNR/KRGF reserves the right to require the removal of any Vendor team member and reserves the right to pre-approve any replacement in key project-related personnel positions as determined by DNR/KRGF. The Vendor should provide written notification to DNR/KRGF of any key project-related engagement partners, managers, other supervisors and specialists, who will be assigned and involved with conducting the actuarial study for the KRGF personnel changes.

Rights of Ownership to Work Products:

The actuary shall submit to DNR/KRGF any and all records, reports, documents, exhibits, data and other material related to the services for which DNR/KRGF has contracted and which have been obtained or prepared by the actuary in connection with the performance of the services for which DNR/KRGF has contracted. DNR/KRGF shall own any records, reports, documents, exhibits, data, Document Phase Document Description Page 9 source code, object code, work papers, novel work process or methodology, test data, pleadings and other documentation generated as a result of performance by the actuary of the services for which DNR/KRGF has contracted. Unless the actuary demonstrates, in writing, that the work was done prior to the effective date of the actuaries ’s contract with DNR/KRGF or is otherwise excluded, and DNR/KRGF agrees to the exclusion in writing. The actuary shall submit, at the completion of any assigned project or examination, any and all records, reports, documents, exhibits, data and other material obtained or prepared by the actuary in connection with the performance of the services governed by this contract.

Upon termination, the actuary recognizes that DNR/KRGF reserves the right to limit the use of any work product, knowledge, information, documents and materials developed, created, or that can be recreated by the actuary as a result of performance by the actuary of the services for which DNR/KRGF has contracted.

Travel expenses:

Travel expenses may be allowable. Travel must be pre-approved by the Commonwealth. Rates must follow the State guidelines set forth in the State Employee Travel regulations located at the following website: State Employee Travel - Finance and Administration Cabinet (ky.gov) and must follow Legislative Research Commission Government Contract Review Committee Hourly Rates

v. Travel Expenses Policy *Policy Statement #98-1 which states:

It shall be a policy of the Government Contract Review Committee of the Legislative Research Commission:

1. Allow for payment for actual time spent in behalf of the State, including travel time, at a recommended hourly rate or specified acceptable fee.

2. If the hourly rate is paid for travel time, travel expenses shall not be allowed, except for overnight lodging when at the convenience of the agency.

3. If the hourly rate is not paid for travel time, travel expenses shall be allowed in accordance with state travel regulations.

Travel expenses may be reimbursed upon submission of detailed receipts and expenses on the designated forms in accordance with state travel regulations, and approval by the Public Service Commission agency authority. Any expenses not allowed in accordance with state travel regulation will be denied.

3.00 Evaluation Criteria

The Kentucky Department of Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF) shall conduct a comprehensive, fair, and impartial evaluation of all proposals. The Kentucky Department of Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF) may reject any proposal that is incomplete or in which there are significant inconsistencies or inaccuracies. The Kentucky Department of Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF) reserves the right to reject all proposals.

Document Phase Document Description Page 10 https://finance.ky.gov/office-of-the-controller/office-of-statewide-accounting-services/Pages/state-employee-travel.aspx

The Kentucky Department of Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF) has established a Proposal Evaluation Committee to review, evaluate and verify information submitted by the offeror.

Each vendor is responsible for submitting all relevant, factual and correct information with their offer to enable the evaluator(s) to afford each vendor the maximum score based on the available data submitted by the vendor.

The Kentucky Department of Natural Resources (DNR), Kentucky Reclamation Guaranty Fund (KRGF) shall evaluate the proposals by assigning scores as indicated.

Technical Proposal Evaluation

Criteria Maximum Points Possible

Mandatory Requirement – Continuing Education

Respondents shall provide Certificates of instruction reflecting the hour credited verifying that the firm's professional personnel have met all continuing professional education (CPE) requirements mandated by the professional certifying Board of Actuaries within the preceding two (2) years.

Requirements that include the words “Shall”, “Will”, “Must” indicate a mandatory requirement Mandatory Requirement means a condition set out in the specifications or statement of work that must be met without exception.

PROPOSALS THAT DO NOT MEET

MANDATORY REQUIREMENTS WILL BE

DEEMED NON-RESPONSIVE AND WILL NOT

BE CONSIDERED.

Pass/Fail

Document Phase Document Description Page 11

Previous Experience (300 Points Total)

(A)100 Points

(B) 100 Points (C)100 Points

The Respondent should:

a. Provide a thorough listing of all previous work projects and actuarial engagements that the firm and or staff have been engaged in that have specifically dealt with coal mining, reclamation and the coal mining industry. The respondent should list the date of each project and delineate for each project the purpose and scope, major issues faced, amount of time allotted, and amount of time actually utilized to complete each project and the number of staff required to complete those projects.

b. Identify what methodology, factors and data were used to determine recommended actuarial rates and plan design services. The actuary should demonstrate experience in providing actuarial rate setting and plan design services to clients involving coal mining and reclamation liabilities.

c. Provide a detailed narrative describing the firm’s ability and capacity to provide the services required and requested based upon the firm’s available resources, along with the firm’s experience and expertise dealing with coal mining and reclamation liabilities

Document Phase Document Description Page 12

Samples (200 Points Total)

The Respondent should provide samples (for evaluation proposes only) of two (2) actuarial valuation reports completed within the last five (5) years. Points will be awarded based on how well samples reflect the firm’s experience and expertise dealing with coal mining and reclamation liability issues. Points will also be awarded for the quality, thoroughness and presentation of information.

Staffing (300 Total Points)

(C)100 Points

The Vendor should:

a. Define the number of employees who will be assigned and involved with conducting the actuarial study for the Kentucky Reclamation Guaranty Fund. List the name, title and location of all staff who will be engaged in the project. Describe what specific role each individual will fulfill; the number of hours each individual will be involved in the project and what specific expertise each individual will bring to the project. Provide as much detailed information as possible regarding qualifications of the specific staff to be assigned to this engagement. Identify the project team and submit copies of their resumes (which should include, but not be limited to experience, qualifications, and training). Outline all principal supervisory and management staff, including key project leadership should be dedicated to the project.

The Vendor should identify the name of the contract manager for the Vendor who will

Document Phase Document Description Page 13 be the main point of contact for purposes of any contract issued pursuant to this RFP, providing his or her address, email, telephone number, and fax number.

b. Provide a detailed description of the understanding that the firm and identified staff possess regarding coal mining, national, state and regional mining reclamation liability and the coal industry. Knowledge of those factors such as, but not limited to, market, risks, liabilities, operational methods geographic localities of Central Appalachia and the Illinois River Basin, etc. that influence and impact such an industry should be thoroughly conveyed. The frequency with which the firm and identified staff stays abreast of current issues, trends and occurrences within the coal industry, along with the methods used to accomplish this should be described.

c. The Vendor should explain the ability to engage outside consultants if necessary and identify the role a consultant would have.

Document Phase Document Description Page 14

Work Plan (200 Points Total)

The Respondent should:

a. Provide a work plan describing the approach that will be utilized to conduct a very detailed and thorough analysis of the factors that should be considered and processed to perform an actuarial study of the KRGF. The respondent should highlight the methodology to be followed, along with the resources and data that will be drawn upon to successfully complete such a task. The work plan should also identify anticipated staffing needs and individual’s percentage of time devoted to each phase of the project; any potential problems in performing services, the firm's approach to resolving these problems and any special assistance that will be requested of the Department.

b. Provide a detailed timeline for the actuarial study to be performed. The vendor should outline the projected number of days that will be required to complete each phase of the project and explain how these numbers were derived.

Maximum Points Possible 1000

Document Phase Document Description Page 15

Cost Proposal Evaluation

Cost (200 Points) Respondents should only provide cost on Attachment A - Cost Proposal Form; otherwise, the proposal may be deemed non-responsive.

Maximum Points Possible 200

Oral Demonstration/Presentation Evaluation, if required

Oral Demonstration/Presentation

The Commonwealth reserves the right to require Oral Presentations/Demonstrations to verify or expand on the Technical or Cost Proposals. Oral Presentations/Demonstrations may be conducted through videoconferencing or by conference call, if it is in the best interest of the Commonwealth to do

so. This is the opportunity for the vendor to present and demonstrate the solution and to answer questions or to clarify the understanding of the evaluation committee in accordance with the requirements of this RFP. The Commonwealth reserves the right to reject any or all proposals in whole or in part based on the oral presentations/demonstrations.

If required, the top 2 highest ranking vendors may be invited. Scheduling will be at the discretion of the Commonwealth. The Commonwealth reserves the right not to require oral presentations/ demonstrations

Maximum Points Possible

Total Proposal Evaluation

Document Phase Document Description Page 16

Technical Proposal 1000

Cost Proposal 200

Oral Demonstrations/Presentations, if required 200

MAXIMUM POINTS POSSIBLE

4.00 Schedule of RFP Activities

The following schedule presents the major activities associated with the RFP distribution, written questions and proposal submission. The Commonwealth reserves the right at its sole discretion to change the Schedule of Activities, including the associated dates and times.

Release of RFP 04/01/2026

Written Questions due by: 11:00 am EST 04/07/2026

Anticipated Commonwealth Response to Written Questions 04/16/2026

Proposals Due by: 11:00am EST 04/27/2026

*NOTE: ALL TIME REFERENCES ARE TO THE EASTERN TIME ZONE.

5.00 Offeror’s Conference

Not Applicable

6.00 Point of Contract

The Agency Contact named below shall be the sole point of contact throughout the procurement process. All communications, oral and written (regular mail, express mail or electronic mail), concerning this procurement shall be addressed to:

Natalie Roark Energy and Environment Cabinet-Department of Natural Resources-Office of the Reclamation Guaranty Fund 300 Sower Blvd, Frankfort KY 40601 natalie.roark@ky.gov

Document Phase Document Description Page 17

From the issue date of this RFP until a Contractor(s) is selected and the selection is announced, Offerors shall not communicate with any other Commonwealth staff concerning this RFP.

7.00 Question Regarding this RFP

Questions must be submitted in writing to the Agency Contact. The Commonwealth will respond to salient questions in writing by issuing an Addendum to the Solicitation. The Addendum shall be posted to the Commonwealth’s eProcurement page.

8.00 Proposal Submission

Electronic Proposals

Proposals shall be received by electronic submission in the eProcurement system, Kentucky Vendor Self Service System.

An electronic proposal shall be authorized by the proper agent of the firm by the act of submitting it electronically through the eProcurement system.

Proposal information MUST be completed online. Response must contain all required information for the Solicitation. All bidders MUST be registered in the Commonwealth eProcurement System via the Vendor Self Service System at https://vss.ky.gov .

Allow 24 – 48 hours to complete Vendor Registration. Vendors must be logged in to their Vendor Self Service (VSS) account in order to submit a response. Registrations completed the day of bid closing must be completed by the Vendor in the VSS portal. The Customer Resource Center is not able to complete registrations and activate accounts on the same day. Closing dates will not be extended for Vendors not registered by the date/time of the bid closing.

All bidders are cautioned to begin their electronic submission in sufficient time to complete before the closing date and time. Delays due to technical difficulties or document upload impediments shall not be justification for acceptance of a late bid or proposal. Vendor attention to this advisory is encouraged. Instructions “How to Submit an Online Response for a Business Opportunity” are posted to Kentucky’s Vendor Self Service, https://vss.ky.gov . If you need assistance, please contact the Customer Resource Center (CRC) by email at Finance.CRCGroup@ky.gov or phone 502-564-9641 or toll-free 877-973-HELP (4357).

Proposals shall be submitted in three (3) parts: The Technical Proposal, the Cost Proposal, and Proprietary Information. Each part shall consist of one document attachment. Do not submit multiple document attachments as Technical, Cost or Proprietary. All files shall be labeled accordingly. Attachments may not exceed 65,000 KB.

Document Phase Document Description Page 18

2600000213 Final Actuarial Service Contract for KRGF Total Pages: 36 https://vss.ky.gov/ mailto:Finance.CRCGroup@ky.gov

Proposals submitted online must be in an “Accepted” status and shall be assigned a date and time stamp from the eProcurement system at the time of final acceptance and formal submission by the vendor. The system will not allow submission of an online proposal after the published date and time for closing.

A proposal may be modified or withdrawn by electronic or written notice ONLY if received prior to the bid closing date and time. An electronic offer may be modified by applying the appropriate electronic signature and following the procedure in the state’s eProcurement signature.

8.10Format of Response

Electronic Proposals

Proposals shall be submitted in three (3) parts: the Technical Proposal, the Cost Proposal, and Proprietary Information. Each part shall consist of one document. Do not submit multiple documents as Technical, Cost or Proprietary.

1. Proposals must be submitted electronically in the eProcurement System, Kentucky

Vendor Self Service site.

a. The Technical Proposal shall be submitted on one (1) document marked Technical (in Microsoft Word, Microsoft Excel or PDF format ONLY). Do not include embedded documents, hyperlinks or hyperlinks to videos. The document shall be named in the following manner: Technical – Name of offeror RFP 128-2600000213

b. The Cost Proposal shall be submitted on one (1) document marked Cost (in Microsoft Word, Microsoft Excel or PDF format ONLY). Do not include embedded documents, hyperlinks or hyperlinks to videos. The document shall be named in the following manner: Cost – Name of offeror RFP 128-2600000213

c. Any Proprietary Information shall be submitted on one (1) document marked

Proprietary (in Microsoft Word, Microsoft Excel or PDF format ONLY). Do not include embedded documents, hyperlinks or hyperlinks to videos. The document shall be named in the following manner: Proprietary – Name of offeror RFP 128-2600000213

All proposals must be received no later than 11:00 EST, April 27, 2026.

Pricing shall only be provided in the Cost Proposal. DO NOT SUBMIT ANY PRICING

INFORMATION IN THE TECHNICAL PROPOSAL.

Document Phase Document Description Page 19

All submitted Technical and Cost Proposals shall remain valid for a minimum of six (6) months after the proposal due date.

8.20 Format of Technical Proposal

The Technical Proposal must be arranged and labeled in the manner set forth below.

Transmittal Letter – a Transmittal letter shall be submitted on Offeror’s letterhead and signed by an agent authorized to bind the Offeror. The Transmittal letter shall include the following:

a. A statement that deviations are included, if applicable.

b. A statement that proprietary information is included, if applicable.

c. A statement that, if awarded a contract as a result of this Solicitation, the Offeror shall comply in full with all the requirements of the Kentucky Civil Rights Act, and shall submit all data required by KRS 45.560 to 45.640.

d. A sworn statement that, pursuant to KRS 11A.040, that Offeror has not knowingly violated any provisions of the Executive Branch Code of Ethics.

e. A statement certifying that the price in this proposal was arrived at independently without collusion, consultation, communication, or agreement as to any matter relating to such prices with any other Offeror or with any competitor.

f. A statement affirming that the Offeror is properly authorized under the laws of the Commonwealth of Kentucky to conduct business in this state and will remain in good standing with the Office of the Kentucky Secretary of State for the duration of any awarded contract resulting from this Solicitation.

g. The name, address, telephone number and email address and website address, if available, of the contract person to serve as a point of contact for day-to-day operations.

h. Subcontractor information to include the name of the company, address, telephone number and contact name, if applicable.

i. Foreign entity’s organization number issued by the Secretary of State in a certificate of authority or a statement of foreign qualification, if applicable.

Completed and Signed Solicitation and Addenda – An authorized representative MUST complete and sign the Solicitation form and include the following:

a. “Vendor” box and “Payment” box shall be completed.

b. Vendor shall indicate ownership type.

c. Vendor shall provide “FEIN” if applicable.

d. Vendor shall provide date the form is completed and signed.

e. Signed face of the most recent Addenda, if applicable.

Document Phase Document Description Page 20

Signed and Notarized Required Affidavit for Bidders or Offerors - available at the following link:

https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx.

Signed and Notarized Required Affidavit for Bidders, Offerors and Contractors Claiming Resident Bidder Status – if applicable. Available at the following link: https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx.

*Offerors not claiming Resident Bidder Status need not submit this affidavit.

Signed and Notarized Required Affidavit for Bidders, Offerors and Contractors Claiming Qualified Bidder Status – if applicable. Available at the following link: https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx.

*Offerors not claiming Qualified Bidder Status need not submit this affidavit.

Response to the Technical Portion of the RFP – Please provide a detailed response to the technical requirements outlined in the Evaluation Criteria. No cost information shall be provided in the technical portion.

8.30 Format of Cost Proposal

The Cost Proposal must be submitted under separate cover from the Technical Proposal and must be arranged and labeled in the manner specified. The proposal with the lowest price receives the maximum score. The remaining proposals with the next lowest price receives points by dividing the lowest price by the next lowest price and multiplying that percentage by the available points.

8.40 Certification Regarding Debarment and Suspension

In accordance with Federal Acquisition Regulation 52.209-5, the Offeror shall certify, by signing the Solicitation, that to the best of its knowledge and belief, the Offeror and/or its Principals is (are) not presently debarred, suspended, proposed for debarment, or declared ineligible for the award of contracts by any state or federal agency.

For the purposes of this certification, “Principals”, means officers, directors, owners, partners, and persons having primary management or supervisory responsibilities within a business entity (e.g., general manager, plant manager, head of subsidiary, division, or business segment, and similar positions.

9.00 Rules of Procurement

To facilitate this procurement, various rules have been established. These are described in the following paragraphs.

Offerors shall review and comply with the General Conditions and Instructions for Solicitation/ Contract listed under “Response to Solicitation” located on the eProcurement web page at:

https://finance.ky.gov/eProcurement/Pages/doing-business-with-the-commonwealth.aspx

Document Phase Document Description Page 21 https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx https://finance.ky.gov/office-of-the-secretary/Pages/finance-forms.aspx

The procurement process will provide for the evaluation of proposals and selection of the winning proposal in accordance with state law and regulations. KRS Chapter 45A of the Kentucky Model Procurement Code provides the regulatory framework for the procurement of services by state agencies.

9.10 Technical Proposal Evaluation

The Department of Natural Resources, Kentucky Reclamation Guaranty Fund will evaluate the proposal based on the technical portion of the Evaluation Criteria. Each Offeror is responsible for submitting all relevant, factual and correct information with their offer to enable the evaluator(s) to afford each vendor the maximum score based on the available data submitted by the Offeror.

Past Offeror Performance may be considered in the award of this Contract. Offerors with a record of poor performance in the last twelve

(12) months may be found non-responsible and ineligible for award.

9.20 Cost Proposal Evaluation

The Department of Natural Resources, Kentucky Reclamation Guaranty Fund will evaluate the proposal based on the cost portion of the Evaluation Criteria.

Offeror shall only provide cost on the attached Cost Proposal Form; otherwise, the proposal may be deemed non-responsive.

9.30 Right to Reject/Waiver of Minor Irregularities

The Commonwealth reserves the right at its discretion to reject any and all offers. The Commonwealth also reserves the right at its discretion to waive informalities and minor irregularities in offers received.

9.40 Clarification of Proposals

The Commonwealth reserves the right at its discretion to request additional information as may reasonably be required for selection and to reject any proposals for failure to provide additional information on a timely basis.

The Commonwealth reserves the right to conduct discussions with any Offeror who has submitted a proposal to determine the Offeror’s qualifications for further consideration. Such discussions shall not disclose any information derived from proposals submitted by other Offerors.

9.50 Best and Final Offers

The Commonwealth reserves the right at its discretion to request a Best and Final Offer (BAFO) for technical and/or cost proposals. Offerors are cautioned to propose their best possible offers at the outset of the process, as there is no guarantee that any Offeror will be allowed an opportunity to submit a Best and Final technical and/or cost offer.

9.60 Vendor Response and Public Inspection

This RFP specifies the format, required information and general content of proposals to be submitted in response to the RFP. The Department of Natural Resources, Kentucky Reclamation

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Guaranty Fund Commission shall not disclose any portions of the proposals prior to contract award to anyone outside the Department of Natural Resources, Kentucky Reclamation Guaranty Fund Commission, representatives of the agency for whose benefit the contract is proposed, representatives of the federal government, if required, and the members of the evaluation committee. After a contract is awarded in whole or in part, the Commonwealth shall have the right to duplicate, use, or disclose all proposal data submitted by Offerors in response to this RFP as a matter of public record.

Any and all documents submitted by an Offeror in response to the RP shall be available for public inspection after contract award pursuant to the Kentucky Open Records Act, KRS 61.870 to 61.884 (“the Act”). When responding to a request to inspect records submitted in response to this RFP, the Commonwealth will not redact or withhold any information or documents unless the records sought are exempt from disclosure pursuant to KRS 61.878 or other applicable law. Similarly, no such documents shall be exempt from public disclosure, regardless of the Offeror’s designation of the information contained therein as “proprietary,” “confidential,” or otherwise, except in cases where the requested documents (or information contained therein) would be excluded from application of the Act under KRS 61.878(1)(c).

The Commonwealth of Kentucky shall have the right to use all system ideas, or adaptations of those ideas, contained in any proposal received in response to this RFP. Selection or rejections of the proposal will not affect this right.

9.70 Reciprocal Preference for Kentucky Resident Bidders and Preferences for a Qualified Bidder The scoring of bids/proposals is subject to the reciprocal preference for Kentucky resident bidders and preferences for a Qualified Bidder or the Department of Corrections, Division of Prison Industries (See KRS 45A.490(1), (2), 45A.492, 45A.494 and KAR 200 5:410).

Vendors not claiming resident bidder or qualified bidder status need not submit the corresponding affidavit.

Determining the residency of a bidder for purposes of applying a reciprocal preference

Any individual, partnership, association, corporation, or other business entity claiming resident bidder status shall submit the attached Required Affidavit for Bidders, Offerors and Contractors Claiming Resident Bidder Status as part of its response. The Department of Natural Resources, Kentucky Reclamation Guaranty Fund Commission reserves the right to request documentation supporting a bidder’s claim of resident bidder status. Failure to provide such documentation upon request shall result in disqualification of the bidder or contract termination.

As part of its response, a nonresident bidder shall submit its certificate of authority to transact business in the Commonwealth of Kentucky, Secretary of State. The location of the principal office identified therein shall be deemed the state of residency for that bidder. If the bidder is not required

Document Phase Document Description Page 23 by law to obtain said certificate, the state of residency for that bidder shall be deemed to be that which is identified in its mailing address as provided in its bid.

Preferences for Qualified Bidder or the Department of Corrections, Division of Prison Industries (200 KAR 5:410)

Pursuant to KRS 45A.470 and 200 KAR 5:410, Kentucky Correctional Industries will receive a preference equal to twenty (20) percent of the maximum points awarded to a bidder in a solicitation. In addition, the following “qualified bidders” will receive a preference equal to fifteen

(15) percent of the maximum points awarded to a bidder in a solicitation. New Vision Industries, Inc., any nonprofit corporation that furthers the purposes of KRS Chapter 163 and any qualified nonprofit agencies for individuals with severe disabilities as defined in KRS 45A.465(3). Any bidder claiming “qualified bidder” status, other than New Vision Industries, Inc., shall submit a notarized affidavit affirming that it meets the requirements to be considered a qualified bidder as part of its response to the solicitation (affidavit form included as part of this RFP). If requested, failure to provide documentation proving qualified bidder status to a public agency, if requested, may result in disqualification of the bidder or contract termination.

9.80 Negotiation

After conducting the evaluation to determine the best proposal received, the Department of Natural Resources, Kentucky Reclamation Guaranty Fund Commission reserves the right to negotiate a fair and reasonable compensation based on the pricing submitted in the Offeror’s proposal. If the negotiations fail to reach an agreement on a fair and reasonable compensation rate, the Department of Natural Resources, Kentucky Reclamation Guaranty Fund Commission reserves the right to proceed to the next highest ranked proposal. Other terms and conditions relating to the technical and/or cost proposals may be negotiated at the sole discretion of the Commonwealth.

9.85 Best Interests of the Commonwealth

The Commonwealth will rank all proposals in the manner set forth in the Evaluation Criteria.

However, the Commonwealth reserves the right to reject any or all proposals in whole or in part before, during, or after negotiation based on the best interests of the Commonwealth.

CONTRACT AWARD, TERMS, AND CONDITIONS

10.00 Notification of Award

To view the award of contract(s), including the contractor(s) receiving the award(s) for this solicitation, access the Kentucky Vendor Self Service Site at:

https://vss.ky.gov

Offerors can search for the solicitation title or number in the keyword search field or filter their search for only awarded solicitations by clicking on “Advanced Search” and changing the status

Document Phase Document Description Page 24 https://vss.ky.gov/ to “awarded.” The award(s) information can be accessed by clicking on the details button of the solicitation and clicking the “Notice of Award” tab. It is the Offeror’s responsibility to review this information in a timely fashion. No other notification of the results of an Award of Contract will be provided to unsuccessful Offerors.

10.10 Beginning of Work

This Contract is not effective and binding until approved by the Secretary of the Finance and Administration Cabinet and filed with the Legislative Research Commission’s Government Contract Review Committee. The Contractor shall not commence any billable work until a valid Contract has been fully executed. This Contract, including the components referenced in Section 10.20, shall represent the entire agreement between the parties. Prior negotiations, representations, or agreements, either written or oral, between the parties hereto relating to the subject matter hereof shall be of no effect upon this Contract.

10.20 Contract Components and Order of Precedence

The Commonwealth’s acceptance of the Contractor’s offer in response to the Solicitation, indicated by the issuance of a Contract Award, shall create a valid contract between the Parties consisting of the following:

1. Procurement Statutes, Regulations and Policies

2. Any written Agreement between the Parties.

3. Any Addenda to the Solicitation.

4. The Solicitation and all attachments

5. Any Best and Final Offer.

6. Any clarifications concerning the Contractor’s proposal in response to the Solicitation.

7. The Contractor’s proposal in response to the Solicitation.

In the event of any conflict between or among the provisions contained in the Contract, the order of precedence shall be as enumerated above.

10.30 Contract Term and Renewal Option

The initial term of the Contract is anticipated to be from July 1,2026 through June 30,2028

This agreement is not effective until the Secretary of the Finance and Administration Cabinet or his authorized designee has approved the Contract and until the Contract has been filed with the Legislative Research Commission, Government Contract Review Committee.

The Commonwealth reserves the right to renew this contract for up to two (2) additional two (2) year periods.

Renewal shall be subject to prior approval from the Secretary of the Finance and Administration Cabinet, or this authorized designee, and the LRC Government Contract Review Committee in accordance with KRS 45A.695 and KRS 45A.705.

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10.40 Changes and Modifications to the Contract

Pursuant to 200 KAR 5:311, no modification or change of any provision in the Contract shall be made, or construed to have been made, unless such modification is mutually agreed to in writing by the Contractor and the Commonwealth, and incorporated as a written amendment by the Department of Natural Resources (DNR), Kentucky Reclamation Guaranty Fund Commission (KRGF) prior to the effective date of such modification or change.