PERS S 45900_00014078 RFP AttD Reference Check Final~1.docx

The document is a Reference Check Form for an RFP (Request for Proposals) issued by the Oregon Public Employees Retirement System (PERS) for Actuarial Services, solicitation number S-45900-00014078. The RFP seeks a qualified actuarial consulting firm to provide comprehensive services including experience studies, annual valuations, variable annuity calculations, IRC 415 factors, actuarial equivalency factors, GASB reporting, financial modeling, legislative analysis, and administrative consulting. The RFP was issued on June 9, 2025, with proposal responses due by July 24, 2025 at 12:00 PM Pacific Time, and the initial contract term is anticipated to be four years with potential renewal options extending up to a total of ten years.

The contract will have a not-to-exceed total amount, with compensation structured across monthly retainer fees, fixed project fees, and hourly rates for special projects. The RFP encourages participation from small businesses certified by the Oregon Certification Office for Business Inclusion and Diversity (COBID), including minority-owned, woman-owned, service-disabled veteran-owned, and emerging small businesses. Proposers must have at least four public pension clients with assets over $10 billion, demonstrate ten years of experience in public pension consulting, and possess extensive expertise in evaluating large defined benefit pension plans. The contractor must maintain professional liability insurance of at least $10 million per claim and will support PERS's complex pension system, which manages approximately $97 billion in assets as of December 2023.