RFP_2026_PR_9123_Actuarial_Services_Final5-4-26.pdf

RFP 2026 PR 9123

For

Actuarial Services

Issue Date:

Pre-response Conference:

Pre-response Conference Date:

Questions/Comments Due Date:

Addendum Due Date:

Proposal Due Date:

Bid Bond:

Payment & Performance Bond:

Tuesday, May 5, 2026.

None Scheduled at this Time.

N/A.

Monday, May 11, 2026.

Tentative Wednesday, May 14, 2026

Wednesday, June 3, 2026, by 2:00 PM EST

Not Required

Not Required

Direct all inquiries to Buyer of Record:

Dom P. Sotero, CPPO, CPPB

407-434-2909 dsotero@ouc.com mailto:dsotero@ouc.com

Orlando Utilities Commission RFP 2026 PR 9123 – Actuarial Services

SCM-RFP-T-01 – Request for Proposal Template v5.0 – 5/22/25

Orlando Utilities Commission Orlando, Florida

RFP 2026 PR 9123 for Actuarial Services

Table of Contents 1 Introduction

1.1 Scope of Work Summary

1.2 Pre-Response Conference

1.3 Term of Contract

1.4 Minimum Bidder Qualifications

1.5 Price and Costs

1.6 Terms and Conditions

1.7 Contract Sample

1.8 Proposal Evaluation Criteria

2 Bidder Requirements and Qualifications

2.1 Detailed Scope, Requirements, & Drawings

2.2 Bidder Information & Required Bidder Qualifications

2.2.1 Bidder Information

2.2.2 Required Bidder Qualifications

3 Instructions to Bidders

3.1 Legal and Public Record Statement

3.2 Confidentiality Notice to Bidders

3.2.1 Exemptions

3.3 Acknowledgement

3.3.1 Statement of No Bid

3.4 General Information

3.4.1 Common Terms

3.4.2 Submittal

3.4.2.1 Alternate Proposals

3.4.3 Signatures

3.4.4 Withdrawal

3.5 Electronic Submittal of the Proposal

3.6 Compliance Forms

SCM-RFP-T-01 – Request for Proposal Template v5.0 – 5/22/25

3.6.1 Public Entity Crimes

3.6.2 Dispute Disclosure

3.7 RESERVED

3.8 Proposal Preparation Costs

3.9 Exceptions

3.10 Clarifications

3.11 Local Conditions

3.12 Opening

3.13 Solicitation Selection Schedule

3.14 Proposal Acceptance and Rejection

3.15 Proposal Evaluation Criteria

3.16 Cancelation

3.17 Freight (If Applicable)

3.18 Bid Bond (If Applicable)

3.19 Payment and Performance Bond (If Applicable)

3.20 Contract Execution

3.21 Award

3.22 Taxes, Permits, and Licenses

3.23 Error and Omissions

3.24 Proposal Submittal Format

3.24.1 OUC Policies and Procedures for Bidders

3.25 Signatures

4 Proposal Submittal Format & Checklist

5 Attachments

SCM-RFP-T-01 – Request for Proposal Template v5.0– 5/22/25

Orlando Utilities Commission Orlando, Florida

RFP 2026 PR 9123 for Actuarial Services

Direct all inquiries to the Buyer of Record: Dom P. Sotero, CPPO, CPPB

407-434-2909 dsotero@ouc.com

Proposal Opening Location: Orlando Utilities Commission Reliable Plaza 100 West Anderson Street Orlando, Florida 32801

1. Instructions are located in the Instruction to Bidders section of this document; or, may be provided during a Pre-Conference Meeting.

2. Electronic proposal submittals, described in the Electronic Submittal of the Proposal section of this document, will be accepted. Email or other means will not be accepted.

3. VendorLink help can be accessed by calling 407-222-1885, or by emailing support@evendorlink.com.

Re qu es t f or P ro po sa l (

RF

P) mailto:dsotero@ouc.com mailto:support@evendorlink.com

1 INTRODUCTION

The Orlando Utilities Commission (OUC) is an electric and water municipal utility serving Orlando, Florida and portions of surrounding Orange County. OUC also has an Inter-local agreement with the City of St.

Cloud, Florida for the management of its electric utility. Currently, OUC serves more than 380,000 customers. To obtain general information about OUC, access www.ouc.com.

1.1 SCOPE OF WORK SUMMARY

OUC is seeking proposals from qualified consulting actuarial firm (“Consultant”). The purpose of this solicitation is select one (1) or more Consultant(s) capable of delivering a range of services including actuarial consulting services for the OUC Pension Plan, OPEB Trust, and self-insured medical program in accordance with Attachment A: Detailed Scope of Work. The selected Consultant shall provide annual actuarial valuations, GASB reporting, regulatory filings, actuarial studies, benefit consulting, and advisory services related to pension and post-employment benefits. The Consultant shall support OUC in evaluating plan funding, regulatory compliance, and long-term financial sustainability.

1.2 BACKGROUND

1.2.1 Defined Benefit Pension Plan – Trust and Defined Contribution Plan

Orlando Utilities Commission maintains a Defined Benefit Pension Plan that consists of a closed traditional Defined Benefit Pension Plan, primarily for employees hired prior to January 1, 1998, and a Hybrid Retirement Program, which includes a Cash Balance component, for employees hired after January 1, 1998 and for employees who chose to switch from the Defined Benefit Pension Plan to the Hybrid Retirement Program. The funding for the traditional Defined Benefit and the Cash Balance Plans is maintained within the OUC Pension Trust. Past actuarial valuation reports have treated the two (2) benefit structures applicable to two (2) employee subgroups as one blended defined benefit plan with unallocated assets. All plan assets are available to pay all benefits to any plan member. As of December 31, 2025, the assets in the Pension Trust were approximately $577 million. There are approximately 1,300 active members, including 33 in the traditional plan. There are 958 retirees and beneficiaries receiving benefits and 238 vested terminated employees. The Trust is invested in a diversified portfolio managed by a Trustee Committee consisting of employees and retirees appointed by the Commission. OUC also maintains a 415(m) plan, which is a nonqualified, governmental single employer plan that provides pension benefits in excess of IRC Section 415(b) limitations imposed on the Defined Benefit Pension Plan. OUC also maintains a 401(a) Defined Contribution Plan, which is separate from the Defined Benefit Pension Plan.

1.2.2 Other Post-Employment Benefits (OPEB)

Orlando Utilities Commission offers various retirement benefits in addition to the pension benefits.

These benefits include subsidies for medical insurance coverage, life insurance and other ancillary benefits. Funding for these benefits is through the OPEB trust. As of December 31, 2025, the assets in the OPEB Trust totaled approximately $206 million. There are approximately 2,200 covered participants under the OPEB Trust. The Trust is invested in a diversified portfolio managed by a Trustee Committee, consisting of employees and retirees appointed by the Commission.

http://www.ouc.com/

1.2.3 Self-Insured Medical Program

OUC provides medical, prescription and dental benefits to its employees and retirees. The Program is self-insured, with individual Stop Loss coverage at $700,000 and no aggregate stop loss. The Program covers approximately 1,300 active employees and dependents and 958 retirees and dependents, with an annual cost of approximately $50 million, funded by OUC with some employee and retiree premium contributions. OUC also participates in the Retiree Drug Subsidy under Medicare Part D.

Refer to Section 2.1, Detailed Scope, Requirements, & Drawings for more information.

1.2 PRE-RESPONSE CONFERENCE

If OUC conducts an in-person meeting at any of OUC’s properties, the requirements below apply:

To comply with security requirements, email names of attendees and company affiliations to the Buyer of Record at least 48 hours in advance of the meeting. Please bring government issued photo identification the day of the Pre-Response Conference.

If applicable, refer to Attachment C: Invitation to Pre-Response Conference

1.3 TERM OF CONTRACT

OUC intends to enter into a three (3) year contract with the option to renew up to two (2) one-year terms at the option of OUC for the services described in this solicitation. No cost increases shall be permitted during the initial three-year term. If the contract is renewed, the rates may be adjusted annually on each anniversary of the Effective Date based on the percentage change in the “Consumer Price Index (CPI) Databases” for “All Urban Consumers (Current Series), “All items in U.S. city average, all urban consumers, not seasonally adjusted,“ published by the Bureau of Labor Statistics. Any adjustment shall not exceed three percent (3%) per year.

1.4 MINIMUM BIDDER QUALIFICATIONS

In order to proceed with the evaluation and consideration phased of this RFP, the proposer must provide clear evidence, through documentation, that they have met all minimum qualification requirements. This section shall be evaluated on a pass/fail basis. Proposers that do not meet the minimum qualifications, or fail to provide the required documentation identified below, shall be deemed non-responsive and disqualified from further evaluation.

Consultant:

1. shall be a professional actuarial firm in the business providing actuarial valuation and pension consulting services for Florida public sector, defined benefit or defined contribution retirement plans for a minimum of five (5) years prior to the proposal due date.

2. primary line of business shall include providing actuarial valuation, experience studies and analysis, actuarial audits, and pension consulting services to similar sized organizations for public pension plans with Other Post-Employment Benefit (OPEB) Programs.

3. shall have experience with defined benefit pension plans (including OPEB Programs) with assets of $500,000,000 or greater.

4. shall have experience as a supervising actuary (signed by an officer of the firm) including consulting services, experience analysis and valuation assignments for major retirement programs within the last five (5) years.

5. shall provide evidence of proven experience with:

a. Annual funding valuations

b. GASB 67/68 and GASB 74/75

c. Experience studies

d. Actuarial audits

e. Plan design and cost analysis

6. shall have Public Sector Expertise:

a. Prior work with Florida municipalities and or governmental entities

b. Familiarity with Florida statutory funding requirements

c. Knowledge of Florida public sector plan governance and benefit structures

7. shall meet the following independent and professional standards:

a. Independence from investment consultants and other advisors

b. No conflicts of interest

c. Adherence to Actuarial Standards of Practice (ASOP)

d. Ability to serve as the actuary of record

8. shall have professional credentials:

a. The principal actuary assigned to provide services must have a minimum of ten (10) years professional actuarial experience, be an enrolled actuary, a Member of the American Academy of Actuaries, and a Fellow of the Society of Actuaries

b. Ability to sign actuarial opinions under applicable Actuarial Standards of Practice

9. shall have all necessary permits and licenses. Liability as well as errors and omissions insurance must be in full force at the time the proposal is submitted and must be maintained throughout the term of the contract

10. shall provide its own work facilities, equipment, supplies and support staff to perform the required services.

1.5 PRICE AND COSTS

Prices documented in the submitted Proposal must remain firm throughout the contract period.

Refer to Attachment B: Price Schedule.

1.6 TERMS AND CONDITIONS

The Terms and Conditions of this Agreement shall be governed by the General Consulting Services.

1.7 CONTRACT SAMPLE

Click here to view an OUC contract sample.

https://www.ouc.com/wp-content/uploads/2024/12/Procurement_general_consulting_services.pdf http://www.ouc.com/docs/procurement/proc_contract_agreement.pdf?sfvrsn=2

RFP 2026 PR 9123 – Actuarial Services

SCM-RFP-T-01 – Request for Proposal Template v5.0– 5/22/25

Orlando Utilities Commission

1.8 PROPOSAL EVALUATION CRITERIA

Refer to the Instructions to Bidders section of this document.

2 BIDDER REQUIREMENTS AND QUALIFICATIONS

2.1 BIDDER REQUIREMENTS AND QUALIFICATIONS

1. A description of the history and organization of the firm, and of any proposed subcontractor/subconsultant. The firm shall provide a general description of its business, including size, number of employees, number of credentialed actuaries, primary business, other business or services offered. The firm shall identify any changes in ownership within the past five (5) years and disclose any known or anticipated changes in ownership structure.

2. Copies of business licenses, professional certifications or other credentials, together with evidence that firm, if a corporation, is in good standing and qualified to conduct business in Florida.

3. A description of firm’s experience in providing actuarial and consulting services for governmental entities or plans and a list of governmental entities or plans for which it has performed services similar to those identified under this Scope of Work. For each engagement listed, indicate the scope of the work performed, the date services were provided, the supervising actuary responsible for the engagement, and the name and telephone number of the principal client contact who would serve as a reference. The firm shall also list all governmental actuarial clients lost within the last five (5) years and provide their contact information for each.

4. Qualifications, background, and experience of the project director and other staff proposed to work on the project. The supervising actuary who will be assigned to the engagement shall be identified and their contact information provided as well as other actuaries and personnel who will have key roles in the work should also be identified. The firm shall describe the role and responsibilities of each proposed team member and demonstrate its ability to provide consistent staffing for the engagement. Brief resumes shall be furnished for the key professional staff assigned to this engagement, including professional credentials, years of experience, and relevant actuarial experience.

5. A description of the techniques, approaches, and methods proposed to complete the services described in this scope of work, including the actuarial methodologies, analytical approaches, processes used to prepare actuarial validations, studies and related consulting services.

6. An affirmative statement that the firm is independent of the governmental entity or plan and that it is unaware of any potential conflicts of interest related to performing the requested services. If any potential conflict exists, the firm shall disclose and describe them.

7. Copies of representative reports demonstrating the firm’s experience with actuarial services for public pension and OFEB plans, including:

a. Actuarial valuation report for a Defined Benefit Pension Plan

b. Actuarial valuation report for OPEB Trust

c. Actuarial assumption study

d. Investment return assumption study

e. The firm shall also provide the percentage of distribution of its actuarial clients whose pension trust has assets fall within the following categories:

i. Less than $300 million

ii. Between $300 million and $500 million

iii. Greater than $500 million

2.2 BIDDER INFORMATION & REQUIRED BIDDER QUALIFICATIONS

2.2.1 Bidder Information

On company letterhead Bidder to provide a response cover page with the following information:

1. Firm Name

2. Name of Parent Company if applicable

3. Complete Business Address

4. State of Incorporation

5. Number of years in business

6. Name(s) and contact information of key personnel

7. Dun & Bradstreet number

8. Licenses obtained to conduct business with OUC

2.2.2 Required Bidder Qualifications

Refer to Section 1.4 Minimum Bidder Qualifications for more information.

1. List the number of projects (with similar scope and size) that the bidding organization has completed and are in progress.

2. Provide at least three (3) references with contact information related to completed projects with the similar scope and size project.

a. If deemed pertinent, OUC will request to do site visits to customers provided as references by selected Bidder or Bidder’s affiliates.

3. Provide a complete list of all the subcontractors that may be part of the project, with the following information:

a. Company name

b. Contact information

c. Number of years in business

d. Proof of the necessary licenses for the job (if applicable)

e. List of project that they had participated with similar scope and size to this RFP

4. Should bidder be awarded the work in this RFP, please provide information on any Economic Development Opportunities that Bidder may bring, such as the creation of new jobs or purchasing or leasing of new building space, which could benefit the local Orlando Area or the State of Florida.

3 INSTRUCTIONS TO BIDDERS

3.1 LEGAL AND PUBLIC RECORD STATEMENT

As required by Florida’s Public Records Law, information provided to OUC in the course of business will be made available for public inspection and copying unless a specific statutory exemption applies.

3.2 CONFIDENTIALITY NOTICE TO BIDDERS

By submitting a proposal to OUC, each Bidder acknowledges and understands that OUC is a public agency subject to Chapter 119 Florida Statutes (“Public Records Law”). Any Proposal document the Bidder submits will become a public record when OUC provides notice of an intended decision or 30 days after opening the bids, proposals, or final replies, whichever is earlier. Trade Secrets, certain background financial information, and other items, may constitute exemptions to disclosure under the Public Records law.

3.2.1 Exemptions

If during the Proposal or Negotiation Phase a Bidder wishes to claim an exemption on any portion of its Proposal to OUC, the Bidder must identify the specific statutory exemption and do the following:

1. Submit a redacted version. Redact (black out) only those portions of the Proposal put forward for exemption.

2. Submit an un-redacted version of the same documents marked, “Confidential –Trade Secret/ Proprietary Information”. Both versions are to be submitted at the same time.

3.3 ACKNOWLEDGEMENT

1. From the issue date of this solicitation packet until a selection decision is made, no unauthorized contact related to this solicitation will be allowed between a Bidder, their employees or subcontractors and any OUC commissioner, officer, director, or staff, with the exception of the Buyer of Record. Any unauthorized contact will disqualify the Bidder from further consideration

2. The selected Bidder agrees to obtain, prior to award, Worker's Compensation, General Liability, Automotive, and other insurance requirements in accordance to the requirements in the terms and conditions specified in section 1.7.

3. All policies shall be subject to approval by OUC, and issued by companies authorized by the State of Florida’s Department of Insurance to conduct business in the State of Florida.

4. The selected Bidder agrees that it and its subcontractors have a Drug-Free Workplace Program that complies with Florida Statute §§ 287.087 and 440.101 et. seq., the Omnibus Employee Testing Act of 1991, 49 Code of Federal Regulation § 391 and 40 (operation of commercial motor vehicles).

a. In addition, all subcontractors must implement a controlled substance and alcohol testing policy for safety sensitive positions as defined by the Commission’s Alcohol and Controlled Substance Testing Policy for Safety Sensitive Positions.

5. The selected Bidder’s employees and its subcontractors’ employees are further prohibited from being under the influence or impairment of alcohol on OUC property or work sites or at any time or place while conducting business with or on behalf of OUC.

6. The selected Bidder shall submit only one proposal/bid in response to this solicitation packet, and shall have no financial interest in other entities submitting proposals/bid responses for the same solicitation packet.

7. Neither the selected Bidder, nor its affiliates, nor anyone associated with them shall have any potential conflict of interest due to any other clients, contracts, business relationships or property interests for this solicitation packet’s scope of work.

8. The selected Bidder shall disclose to OUC the name(s) of any OUC employee, contractor, or OUC Board Member who has a direct or indirect financial interest in the selected Bidder’s organization, or in the proposed transaction. A direct or indirect financial interest in the selected Bidder’s organization, or in the proposed transaction exists if the OUC employee, contractor, or Board Member:

a. Presently, or in the preceding twelve (12) months, has an ownership interest in the selected Bidder’s organization (other than as owner of less than 1% of the stock of a publicly traded corporation).

b. Works for, is a partner, officer, director, trustee, or consultant to the selected Bidder.

c. Has received grant, travel, honoraria, or other similar support from the selected Bidder

d. Has a right to receive royalties from the selected Bidder.

9. No member of the selected Bidder’s ownership, management, or staff shall have a vested interest in any aspect of OUC, nor any business or other relationship with any of OUC’s employees, officers, directors, or Board Members that creates a conflict of interest or the appearance of a conflict of interest.

10. No member of the selected Bidder’s ownership or management is presently applying for an employee position or actively seeking an appointment within OUC.

11. The selected Bidder, or authorized signatory, shall provide written notice to OUC in the event that a conflict of interest is identified at any time.

3.3.1 Statement of No Bid

The OUC Procurement Department is committed to continuously improving its processes to receive maximum participation from the industry/market. OUC is requesting that organizations, who do not wish to bid on this RFP, send the Buyer of Record an email briefly explaining their “no bid” decision. This response will help to improve the solicitation process and any future communications.

3.4 GENERAL INFORMATION

Bidders shall prepare Proposals in accordance with the requirements of these Instructions to Bidders. Not preparing a Proposal, in accordance with such instructions, implies that the Bidder does not intend to comply with all of the proposed contract conditions. Such proposals will be considered irregular and may be rejected.

OUC will receive Proposals through the VendorLink system for goods, equipment, materials, and related services set forth in the included specifications and documents.

http://www.myvendorlink.com/

3.4.1 Common Terms

OUC and Bidders (the parties) agree that the following phrases each shall have the meaning provided here and may be used interchangeably:

1. “Bidder(s)”, “Supplier(s)”, and “Proposer(s)” shall mean the organization, party, person, firm, company, corporation, partnership, joint venture, or other type of entity responding to this solicitation.

2. “Solicitation” shall mean , “Request for Proposal(s)”, “RFP”, “Request for Quote”, “RFQ”, “Invitation to Bid”, “ITB”, “Solicitation Package” or, “Solicitation Packet”, to which the Bidder is responding.

3. “Bid(s)”, “Proposal(s)”, or “Quote(s)” shall mean the documents formally submitted to OUC by each of the Bidders responding to this solicitation packet.

3.4.2 Submittal

Bidders shall submit Proposals in accordance with the instructions and schedule included in the solicitation containing these specifications and documents. Refer to Section 4: Proposal Submittal Format & Checklist and submit Proposal with all applicable content.

3.4.2.1 Alternate Proposals

If the Bidder submits an alternate proposal, they shall identify clearly the proposal as an “Alternate Proposal”. OUC may consider alternate proposals a blanket exception to the solicitation and reject the Proposal.

3.4.3 Signatures

An authorized representative of each Bidder shall:

1. Sign or e-sign the Proposal, give their full name and title, and provide the Bidder’s business name and address.

2. Enter the organization’s exact legal name on the Proposal.

3. Sign or e-sign compliance forms, if applicable.

3.4.4 Withdrawal

Bidders may withdraw, alter, and resubmit their Proposals through VendorLink at any time prior to the Proposal due date and time. Proposals may not be withdrawn, altered, or resubmitted after the Proposal due date and time. OUC may request clarifications and additional information after proposal submission.

3.5 ELECTRONIC SUBMITTAL OF THE PROPOSAL

To ensure correct Proposal formatting, Bidders shall:

1. Submit Proposals electronically through VendorLink.

2. Upload files only in MS Word (.doc or .docx), Excel (.xls or .xlsx), and PowerPoint (.ppt or .pptx); Adobe Portable Document Format (.pdf); Compressed File (ZIP) formats.

3. Enable printing on files submitted.

4. Clearly identify the RFP Number, Name, Submission Date, and Bidder Name on the Response Cover Page on Bidder’s letterhead.

5. Separate and identify each part of the submission (i.e. document type, form type, content type) with a divider/separation page.

6. Contact VendorLink technical support at support@evendorlink.com, if technical difficulties arise during proposal submission.

7. Follow all instructions outlined in this RFP and provide all requested information.

OUC may ask the selected Bidder to supply one hard copy set with original, written signatures and original compliance forms, prior to the contract execution. Do not submit following both methods unless otherwise instructed.

3.6 COMPLIANCE FORMS

3.6.1 Public Entity Crimes

Each Bidder shall submit copies of an executed and notarized Sworn Statement under Section

287.133 (3)(a) and 287.135, Florida Statutes, on Public Entity Crimes and Scrutinized Companies.

3.6.2 Dispute Disclosure

Each Bidder shall submit copies of an executed Dispute Disclosure form.

3.7 RESERVED

3.8 PROPOSAL PREPARATION COSTS

OUC shall provide, without charge, one set of the specifications and documents to prospective Bidders for preparation of proposals. Addenda documents will be issued only to prospective Bidders registered in VendorLink.

This solicitation does not commit OUC to pay any costs incurred in the preparation and submission of the Proposal or to pay any other costs incurred prior to award.

3.9 EXCEPTIONS

OUC is seeking proposals that meet all technical and commercial requirements as outlined in this solicitation. If a Bidder takes exception to any solicitation requirement or condition, the exception must be specifically stated on the Exception Form provided within the solicitation document. OUC shall consider only those exceptions written on the form at the time the Proposal is submitted. The Bidder acknowledges that any exception taken to the solicitation criteria (including submitting an alternate proposal) may result in OUC determining the Proposal to be nonresponsive.

3.10 CLARIFICATIONS

If a prospective Bidder has doubt as to the true meaning of any part of the solicitation, they may submit a written request for clarification through email to the Buyer of Record; verbal requests will not be accepted. The Bidder must reference the Solicitation Package page number and section heading on any clarification requests

Failure of the Bidder to request information or make inquiries will not relieve them of any responsibility to perform under the terms of any contract awarded for the work in accordance with subsequent clarifications.

OUC shall issue an addendum to all Bidders, via VendorLink, once an inquiry is clarified and/or answered. Verbal responses will not be provided and are not binding on OUC.

mailto:support@evendorlink.com http://www.ouc.com/docs/procurement/proc_public_entity_crimes_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_public_entity_crimes_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_dispute_disclosure_form.pdf?sfvrsn=2 http://www.myvendorlink.com/ http://www.ouc.com/docs/procurement/proc_exceptions_form.pdf?sfvrsn=2

3.11 LOCAL CONDITIONS

Each Bidder shall have thorough knowledge of conditions, factors, and scope of work, which would affect the execution and completion of the requested work. If required, site visits will be held the day of the Pre-Response Conference unless otherwise arranged.

Bidders shall investigate properly and consider all such factors in the preparation of every Proposal submitted. OUC shall not permit claims for financial adjustment based on the lack of prior information or its effect on the cost of the work.

3.12 OPENING

OUC shall open Proposals on the RFP Due Date at 2:30 p.m. EST at 100 West Anderson Street, Orlando, Florida. If required, at a public opening, OUC shall read only the Bidder name and if they have provided all the required information. OUC shall not share any other information at this time, with the exception of solicitations for construction or repairs on public works projects in which the price is submitted. Proposals not meeting the requirements may be rejected.

All questions concerning this solicitation must reference the document page number, and section heading. OUC shall answer questions and post them to VendorLink as an addenda to the solicitation.

3.13 SOLICITATION SELECTION SCHEDULE

OUC shall adhere to the stated schedule during the solicitation process, unless a change notice is issued to the Bidders via a written addendum. OUC reserves the right to postpone the date and time announced for the opening of proposals at any time.

OUC expects Proposals to address all of the information requested in the solicitation and subsequent clarifications, and to reflect the capabilities of the Bidder.

Bidders shall submit any supplemental information, and list any variations on the Exceptions form, in accordance with Section 4, Proposal Submittal Format & Checklist.

3.14 PROPOSAL ACCEPTANCE AND REJECTION

OUC reserves the right to accept the Proposal which, in its judgment, is the most responsive and responsible Proposal and to reject any and all proposals; as well as waive irregularities and formalities in any proposal that is submitted.

Without limiting the generality of the foregoing, OUC may reject any proposals which are incomplete or irregular; Proposals which omit any one or more items for which the solicitation requires, any Proposals which omit unit prices if unit prices are required, any Proposals from Bidders who have previously failed to satisfactorily complete contractual obligations.

1. The following shall cause an automatic rejection of the proposal:

a. Proposals delivered/submitted after the 2:00 p.m. due date

b. Failure to submit a Bid Bond (if required)

c. Failure to attend a mandatory Pre-Response Conference and/or any mandatory presentation (if required)

d. Failure to submit a signed Payment and Performance Bond Compliance Form when (a) a Payment and Performance Bond is required or (b) alternate payment and performance security permissible under Section 255.05, Florida Statutes is required http://www.ouc.com/docs/procurement/proc_paymt_perform_bond_form.pdf?sfvrsn=2

2. The following items may cause a rejection of the proposal:

a. Failure to submit copies of any of the signed & notarized (where required) forms:

i. Statement on Public Entity Crimes form

ii. Dispute Disclosure

3.15 PROPOSAL EVALUATION CRITERIA

OUC shall evaluate the Proposals based on the information provided by each of the Bidders. OUC’s review may include, but may not be limited to the following categories:

1. Qualifications and Experience, including past performance for OUC

2. Responsiveness to Requirements

3. Safety and Quality Programs

4. Financial Soundness of Organization

5. Price

OUC reserves the right to negotiate with Bidders who submitted responsive and responsible Proposals in the best interest of the OUC Commission. This negotiation process may occur prior to OUC Commission approval. Each Bidder acknowledges that OUC shall evaluate all Proposals and may initiate clarification discussions or seek additional information from all or some of the Bidders to fully understand any unclear elements of their proposals. Following clarification, OUC may initiate negotiations with the Bidder considered to be the most responsive and responsible. If no agreement is reached with the highest ranked Bidder, OUC may reject all Proposals or continue negotiations with each subsequently ranked Bidder until an acceptable deal is reached. A final contract award may be contingent upon OUC Commission and legal approval.

OUC reserves the right to consider historic information and facts, whether gained from the Bidder’s Proposal, question and answer conferences, references, and/or other sources during the evaluation process. OUC may conduct such investigations to assist with the evaluation of any Proposal. The investigation also serves to establish the Bidders’, subcontractors’, and other related entities’ responsibility, qualifications, and financial ability to fulfill the Proposal requirements to the Commission’s satisfaction, within the prescribed time.

The Bidder solely is responsible to submit information related to the evaluation categories. OUC is under no obligation to solicit such information. Failure of the Bidder to submit information may cause an adverse impact on the Proposal’s evaluation.

3.16 CANCELATION

Prior to the final execution of a Contract or full Notice to Proceed, OUC reserves the right to rescind said award without prior notice to Bidders. In addition, OUC may reject all Proposals, reissue the solicitation packet, or re-award the contract.

3.17 FREIGHT (IF APPLICABLE)

The selected Bidder shall coordinate with OUC’s freight contractor for shipping unless OUC determines that the selected Bidder can obtain freight/shipping rates or methods that are more advantageous to OUC. The selected Bidder shall submit an alternate shipping proposal based on delivery to OUC’s Free On Board (FOB) carrier at the designated OUC facility or location. The alternate proposal must include the:

http://www.ouc.com/docs/procurement/proc_public_entity_crimes_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_dispute_disclosure_form.pdf?sfvrsn=2

1. Carrier name

2. Insurance coverage

3. Firm price freight quote

The Bidder must include any alternate proposal in the bid response to this solicitation. OUC may accept or reject the proposed alternate shipping arrangement.

OUC’s freight/shipping supplier and contact information is:

Nexterus

1-888-867-5952 (Monday – Friday, 8:00 a.m. – 7:00 p.m. EST) dcs@nexterus.com

3.18 BID BOND (IF APPLICABLE)

Bidder may be required to submit a certified check or cashier’s check drawn on an acceptable bank, or an acceptable Bidder’s bond executed by the Bidder and a surety company authorized to do business in the State of Florida. The value of the bid bond shall be five percent (5%) of the proposal price schedule. When submitting a Proposal through VendorLink, the Bidder shall provide a copy of the check and express mail the original check to the delivery location provided on the first page of the Solicitation Packet Form.

The bid bond guarantee shall be made payable without condition to OUC. The amount of the check or bond may be retained by and forfeited to OUC as liquidated damages if the Proposal results in a contract award and the Bidder fails to honor the accepted terms.

OUC shall return the selected Bidder’s bid bond when that Bidder executes the contract and files a satisfactory payment and/or performance bond, if required. OUC may retain the bid bond of the second highest ranked Bidder for a period not to exceed thirty (30) days, pending the execution of the contract by the selected Bidder. OUC shall return the bid bond of each unsuccessful Bidder upon request, after the contract is awarded or when the Proposal is rejected.

3.19 PAYMENT AND PERFORMANCE BOND (IF APPLICABLE)

The selected Bidder may be required to furnish a Payment and Performance Bond to OUC per Florida Statutes; Section 255.05 equal to 100 percent of the contract price. The cost of such bonds shall be stated as a separate line item in the Proposal.

A surety company, authorized to do business in the State of Florida and acceptable to OUC, shall sign the bond. The Performance Bond and Payment Bond shall be dated with the actual execution date. With these bonds, the responsible party shall file certified copies of the power of attorney of such attorney-in-fact signing the bond on behalf of the surety, and such certificates shall be certified to show that such power of attorney was in effect to and including the date of the actual execution of the bonds. Any bonds submitted by a surety or its agent shall be conclusively presumed to have been authorized by and binding upon the surety company irrespective of the date shown on the power of attorney.

If bonds are required, they shall remain in full force and effect until satisfactory completion of any specified performance guarantee tests, or satisfactory completion of all other contractual requirements, whichever shall occur last. Upon recording of the performance and payment bond (if applicable) Bidder shall provide OUC three (3) copies.

mailto:dcs@nexterus.com

OUC shall furnish a copy of the selected Bidder’s bond to any lienor demanding that bond under the provisions of Florida Statute 713.23.

3.20 CONTRACT EXECUTION

The selected Bidder shall execute the necessary contractual forms, and return the executed forms within ten (10) business days of receipt of forms for execution.

3.21 AWARD

OUC reserves the right to award a single or multiple contracts for all proposal items, or to award separate contracts for single proposal items or any combination of such items; or to make no contract award.

OUC shall be the sole judge of its own best interests, the proposals, and the resulting contract. An award may be made to the most responsive and responsible organization whose proposal is determined to be the most advantageous to OUC. The Commission’s decision shall be final and OUC’s rights include the ability to:

1. Reject any or all proposals or parts thereof

2. Issue subsequent solicitations

3. Cancel the entire solicitation

4. Remedy technical errors on the solicitation

5. Negotiate with any, all or none of the Bidders

6. Award a contract to one or more Bidders or none at all

7. Accept other than the lowest price

8. Waive informalities and irregularities in proposals

3.22 TAXES, PERMITS, AND LICENSES

The Bidder's attention is directed to the General Terms and Conditions and the Florida Statutes regarding taxes, permits, and licenses. It shall be the Bidder's responsibility to determine the applicable taxes, permits, and licenses. If the Bidder has doubt as to whether or not a tax, permit, or license is applicable, they shall state in their proposal whether this item has been included in their proposal price and the amount of the applicable tax, permit, or license in question.

3.23 ERROR AND OMISSIONS

Bidders or their authorized representatives are expected to be fully informed as to the conditions, requirements and specifications before submitting proposals; failure to do so will be at the Bidder’s own risk. Neither law nor regulations make allowance for errors either of omission or commission on the part of Bidders. In case of error of extension of prices in the proposal, the unit price shall govern.

3.24 PROPOSAL SUBMITTAL FORMAT

Bidders shall complete all required forms, and include them in the proposal submittal package with any other required information. Refer to Section 4, Proposal Submittal Format & Checklist for more information.

3.24.1 OUC Policies and Procedures for Bidders

The Bidder shall read and comply with OUC’s policies and procedures before submitting this Proposal:

1. Contractor Security Policy

2. Bid Protest Guidance

3. Generic Contractor Orientation

4. Drug and Alcohol-Free Workplace and Testing Policy

5. OUC Travel and Expense Guidelines

6. All policies – OUC Procurement Services Department website

These policies and any supplemental policies provided at contractor orientation are hereby fully incorporated into this contract by reference and to the extent applicable to the supplier in the performance of their work. Supplier and its subcontractors, suppliers, agents, and employees shall fully comply with all such policies as amended from time to time.

3.25 SIGNATURES

By submitting this proposal with the authorized electronic signature, the Bidder hereby declares that, in all respects for and in good faith, without collusion or fraud:

1. Only the individuals or organizations interested in this proposal/bid response as principal or principals are named in this Proposal.

2. No other individuals or organizations than mentioned in this Proposal have any interest in this Proposal/Bid Response or in the subsequent contract.

3. This Proposal/Bid Response is made without connection with any other person, company, or parties likewise submitting a Proposal/Bid Response.

Bidders shall prepare Proposals in accordance with the Instructions to Bidder’s document. Failure to submit the necessary forms may cause a rejection of the proposal. The Bidder hereby agrees to provide the services and/or items specified in the solicitation packet at the prices quoted pursuant to the requirements of this document.

https://www.ouc.com/wp-content/uploads/2024/12/Procurement_procure_contractor_sec_pol.pdf https://www.ouc.com/wp-content/uploads/2024/12/Procurement_bid_protest.pdf https://www.ouc.com/wp-content/uploads/2024/12/Procurement_procure_contractor_orientation_stanton.pdf https://www.ouc.com/wp-content/uploads/2024/12/Procurement_proc_alc_cont_subs_testing_pol.pdf https://www.ouc.com/wp-content/uploads/2024/12/Procurement_supplier_business_expense_guidelines.pdf https://www.ouc.com/doing-business-with-ouc/

SCM-RFP-T-01 – Request for Proposal Template v4.2– 10/21/19

4 PROPOSAL SUBMITTAL FORMAT & CHECKLIST

A checkmark (✓) on the items below indicates these are applicable items and the terms and conditions stated in earlier sections are applicable. Bidders shall complete all the forms checked (✓) below, and include them in the proposal submittal package in order with any other information.

Provide a written signature on all original forms and, when required, a notary stamp. Scan & upload these forms with the Proposal.

Technical Response File (checked if applicable)

Tab 1 – Cover Page

Proposal Cover Page on Bidders Letterhead

Bidder Information as listed in Section 2.2.1

Tab 2 – Bidder Background and Qualifications

References and Qualifications as listed in Section 2.2

Tab 3 – Response to Requirements

Response to all Requirements as listed in Section 2 and any applicable Attachments

Tab 4 – Compliance Forms

Submit at time of proposal

Exceptions

Sworn Statement on Public Entity Crimes and Scrutinized Companies Under Florida Statutes, Section 287.133 (3) (a) and 287.135

Dispute Disclosure

☐ Bid Bond as described in Section 3.18 (If Applicable)

Addenda (If Applicable)

Provided at time of award

Copy of all required Florida Business License

Copy of Insurance Certificate

W-9 Form1

☐ Payment & Performance Bond as described in Section 3.18 (If Applicable)

1Upon award of contract, the awarded firm shall complete and submit IRS Form W-9 in accordance with the following instructions:

1. Enter the legal name of the contracting entity on Line 1. This name shall match the entity that will execute the contract.

2. If operating under a different name, enter the “doing business as” (DBA) name on Line 2.

3. If the proposing firm is a disregarded entity, enter the parent company name on Line 1 as the legal taxpayer and enter the disregarded entity name on Line 2. Clearly state this relationship.

4. Ensure the name on Line 1 matches the legal entity registered with the Florida Division of Corporations (Sunbiz.org).

5. Provide the correct federal tax classification and taxpayer identification number (TIN or EIN) corresponding to Line 1.

6. Provide the current business address associated with the legal entity.

7. Sign and date the form by an authorized representative listed in Sunbiz.org of the contracting entity.

8. Submit the completed Form W-9 prior to contract execution.

http://www.ouc.com/docs/procurement/proc_exceptions_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_public_entity_crimes_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_public_entity_crimes_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_dispute_disclosure_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_addenda_form.pdf?sfvrsn=2 http://www.ouc.com/docs/procurement/proc_w9_form.pdf?sfvrsn=2

SCM-RFP-T-01 – Request for Proposal Template v5.0 - 5/22/25

5 ATTACHMENTS

Attachment A: Detailed Scope of Work

Attachment B: Price Schedule

Attachment C: Bidder Information and Qualification Form

DETAILED SCOPE OF WORK

1. General Actuarial Services

a. The Consultant shall prepare annual actuarial valuation reports for the Pension Plan and

Other Post-Employment Benefits (OPEB) Trust and present the results to the Pension Committee.

b. Valuation reports shall typically be completed and presented by mid-February each year.

c. OUC will typically provide pension data in mid-December and OPEB data in early January.

d. The Consultant shall attend meetings, as requested, to present actuarial results and provide advisory services.

e. The Consultant shall monitor and advise OUC regarding proposed legislation or regulatory changes that may affect the Pension Plan or OPEB programs.

f. The Consultant shall conduct actuarial studies, as requested, including experience studies.

2. Actuarial Valuation Reports

The Consultant shall prepare actuarial valuation reports, as needed, to comply with State of Florida laws and Governmental Accounting Standards Board accounting requirements, including disclosure information, in accordance with GASB Statement Nos. 67 and 68 and Nos. 73, 74 and 75. Valuation reports shall include, at a minimum:

a. Management summary and required certifications.

b. Development of the unfunded actuarial accrued liability.

c. Details on any techniques used to develop valuation liabilities, normal costs, or other significant results.

d. Asset information, including detailed development of the actuarial value of assets and benefits.

e. Development of the total current contribution, contribution rate, and analysis of the change in employer contribution from prior valuation.

f. Analysis of actuarial gains and losses for the plan year by source.

g. Description of the actuarial cost method and actuarial assumptions.

h. Outline of plan provisions.

i. Summary of participant data and reconciliation of membership data by plan.

j. Amortization of unfunded actuarial accrued and projected actuarial valuation results.

k. Annual gain/loss analysis to determine reasons for changes in the unfunded actuarial accrued liability, whenever a prior actuarial valuation is available to support such analysis

l. Determination of the implicit rate subsidy, if any, and the impact on the OPEB liability.

m. Sensitivity analysis showing the impact of alternative assumptions on the employer’s OPEB Trust contributions, including healthcare trend rates and investment rate assumptions.

n. Analysis of the data to assess any inconsistencies and recommendations on managing the Pension and OPEB liability. This may include changes in plan design.

o. As appropriate, review and update of plan documents and design including recommendations.

p. Projected costs and cash flow projections for periods beyond the current period for up to ten years.

3. Regulatory Filings

a. Prepare the annual medical Section 112.08 filing as required by the State of Florida and respond to all inquiries from the Office of Insurance Regulation (OIR) concerning the filing.

b. Prepare all components of the annual application for the Retiree Drug Subsidy

(RDS).

c. Prepare the annual Compliance Report under Section 112.662 as required by the State of Florida .

d. Prepare the annual Compliance Report under Section 112.664 as required by the State of Florida .

4. Actuarial Studies and Special Reports

The Consultant shall prepare other reports, as requested, including:

a. Funding impact studies of the actuarial significance of proposed changes regarding:

I. Benefit levels II. Contributions

III. Actuarial funding methods, assumptions, and techniques IV. Investment policy

V. Administrative procedures

b. Actuarial special studies, including experience studies.

c. Assistance with the preparation or review of legislation, including fiscal notes and bill analysis.

5. Additional Consulting and Advisory Services

The Consultant shall provide other services, as requested, including:

a. Advice and recommendations related to changes in regulations, completion of actuarial reports, or other similar reports for pension and other employee programs.

b. Benefit consulting services, as needed.

c. Audit support for both Pension and OPEB plan financial statements and employer financial statements.

End of Scope of Work

PRICE SCHEDULE

Proposer shall complete and return Attachment B, Price Schedule in OUC’s Microsoft Excel Format.

Name:

Description Principal Consultant

Other Consultant Assistant 1Other (describe)

Cost per full-burdened Labor Hour:

Description Principal Consultant

Other Consultant Assistant Other (describe)

Cost per full-burdened Labor Hour:

Annual Pension funding Valuation Report:

Annual Pension GASB 67/68 Valuation Report:

Annual OPEB funding Valuation Report:

Annual OPEB GASB 74/75 Valuation Report:

Annual Retiree Drug Subsidy Attestation:

Annual Chapter 112.08 Filing for Self-Insurance:

Annual Chapter 112.662 Compliance Report Annual Chapter 112.664 Compliance Report

Total:

Payment discounts: 1% 20 days, 30 days; 3% 10 days, net 30 days; non offered.

Signature Date

RFP 2026 PR 9123 Actuarial Services Attachment B, Price Schedule

Note: Fully burden rates mean all-inclusive labor rate that include, without limitation, direct labor, indirect labor, fringe benefits, payroll taxes, overhead, general and administrative costs, supervision, materials, equipment, tools, licenses, insurance, travel, lodging, consumables, profit, and all other necessary to perform the services.

1Note: If additional staffing is necessary for any future change orders, please attach the list.

Prices documented in the submitted Proposal must remain firm throughout the base contract period and may be negotiated for the optional renewal period(s).

Table 1. Employee Benefit Plan Consulting Services

Table 2. Actuarial Services

Table 3. Annual Reports Description of Services Flat Rate Per Report

ATTACHMENT C: QUALIFICATION FORM

Proposer shall complete and return Attachment C, Qualification Form in OUC’s Microsoft Excel…