Actuarial Service Contract for KRGF

The Commonwealth of Kentucky's Department for Natural Resources is issuing Request for Proposals (RFP 128 2600000213) for actuarial services to evaluate the financial soundness and sustainability of the Kentucky Reclamation Guaranty Fund (KRGF). The KRGF, established to guarantee reclamation of coal mining permits when performance bonds are forfeited, requires a comprehensive two-phase actuarial engagement. Phase I consists of an actuarial and funding viability study that will deliver a detailed written report analyzing the KRGF's structure, funding schemes, financial soundness, minimum bond adequacy, risk and liability exposures, funding options, cash flow projections, administrative structure, and cost-benefit analysis in Word, PDF, and editable Excel formats. Phase II encompasses ongoing maintenance and support services, estimated at 40 hours, including advice on implementing recommendations and availability for testimony. Respondents must meet mandatory requirements including Board of Actuaries-certified continuing professional education (CPE) credentials within the preceding two years. The evaluation criteria allocate 1,000 points for the technical proposal, distributed as follows: 300 points for previous experience with coal mining and reclamation, 200 points for sample actuarial reports, 300 points for staffing qualifications and project team expertise, and 200 points for detailed work plan and timeline, with 200 additional points available for oral presentations if required, and 200 points for cost proposals. Written questions are due April 7, 2026, with proposals due April 27, 2026, at 11:00 a.m. EST. The anticipated contract term runs from July 1, 2026, through June 30, 2028, with renewal options available for up to two additional two-year periods subject to Secretary approval and Legislative Research Commission review.

The RFP does not specify set-aside designations or restrictions limiting competition to particular organization types, and no incumbent vendor information is provided in the solicitation documents. Cost proposals must detail employee names, titles, estimated hours, and hourly rates on the provided Attachment A form, with pre-approved travel expenses reimbursable according to state employee travel regulations. Awarded vendors must maintain Commercial General Liability Insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate, and Professional Liability Insurance with minimum limits of $1,000,000 per claim. The contract is subject to Kentucky procurement statutes and regulations, including compliance with KRS 45A and various nondiscrimination, conflict-of-interest, and tax law requirements. No specific budget range or award value is provided in the solicitation materials.