Actuarial Consulting Services For The Tennessee Advisory Council On Workers' Compensation - UPDATED

The State of Tennessee, Department of Treasury, is requesting proposals for actuarial consulting services to support the Tennessee Advisory Council on Workers' Compensation, with responses due July 9, 2026 at 2:00 p.m. central time.

The scope involves reviewing and evaluating the National Council on Compensation Insurance, Inc.'s annual Loss Cost Rate Filings for the Tennessee voluntary workers' compensation insurance market. Deliverables include evaluating data underlying NCCI filings, examining the appropriateness of NCCI's methodologies for estimating ultimate loss costs, analyzing calculation of proposed changes in loss costs and loss adjustment expenses, evaluating trend factor selection, and providing written reports and oral presentations to the ACWC.

The contract term is 60 months, effective August 25, 2026 through August 24, 2031. Cost proposals must include annual fees for actuarial services for each contract year and an hourly rate for additional ad hoc services not to exceed 25 hours annually. No travel compensation or reimbursement will be provided.

Evaluation allocates 25 points for general qualifications and experience, 45 points for technical qualifications and approach, and 30 points for cost proposals. Respondents must submit a signed Statement of Certifications and Assurances, provide a current bank reference demonstrating financial standing, submit three professional references for similar projects, and demonstrate compliance with nondiscrimination and conflict of interest requirements. The contract includes a warranty that services will conform to specifications, with defects corrected at no additional charge.

A pre-response teleconference is scheduled for June 18, 2026. Written questions and comments are due June 24, 2026, and notice of intent to respond is due June 19, 2026. The State anticipates issuing notice of intent to award on July 28, 2026, with a protest period ending August 4, 2026 and a contractor signature deadline of August 11, 2026. Responses must be submitted separately for technical content and cost proposals via email with a maximum file size of 15 megabytes per submission. The State reserves the right to reject any and all responses, terminate for convenience with 30 days' notice, or terminate for cause.