Actuarial and Related Services

The City of Clearwater is requesting proposals for actuarial and related services for its Employees' Pension Plan and Other Post-Employment Benefits (OPEB) program under RFP 52-26, with proposals due August 27, 2026 at 10:00 AM and questions due August 17, 2026.

Respondents must demonstrate five years of actuarial services experience with public entities and demonstrated expertise in governmental pension plans and OPEB programs subject to GASB reporting standards. The City prefers to award both Pension Plan and OPEB services to a single consultant but reserves the right to award separately.

The scope includes annual actuarial valuations for the Employees' Pension Plan (covering 1,563 active members and 1,554 retirees), GASB 67/68 and GASB 75 financial reporting, Florida statutory compliance reporting, employee benefit statements, experience studies, and related consulting services. Pension valuations must be delivered by April 30 annually with separate funding and contribution calculations for Fire, Police, and Non-hazardous employees. GASB reporting deliverables are due by February 1. OPEB valuations or roll-forward reports are due by December 31 annually or biennially as directed. The OPEB program covers 2,249 total members with a Total OPEB Liability of $20,357,396 as of September 30, 2025.

The contract commences January 1, 2027 for an initial five-year term through December 31, 2031, with the City retaining the right to extend with thirty days' written notice. Pricing must remain firm for the five-year term and cover all labor, supervision, overhead, profit, travel, administrative expenses, software, supplies, and meeting costs; no fuel surcharges are accepted. Payment terms are NET 30 via Electronic Funds Transfer or Automated Clearing House.

Evaluation weights are Qualifications and Experience of Firm (35%), Qualifications of Personnel (20%), Project Approach, Methodology, and Schedule (15%), Understanding of City's Pension Plan and OPEB Requirements (15%), References (10%), and Contract and Compensation (5%). Professional Liability/Malpractice Insurance minimum limits are $2,000,000 per occurrence and Commercial General Liability $1,000,000 per occurrence.