Actuarial Services

The Parkway School District in Missouri is seeking qualified actuarial firms to provide comprehensive actuarial services for determining the district's post-employment benefits obligations in compliance with GASB Statement 45 and 75. The primary objective is to conduct an actuarial valuation for the period of July 1, 2024 through June 30, 2025, which will be used for the district's June 30, 2025 financial reporting. The scope of services includes analyzing the district's total OPEB liability, which currently stands at $33,486,128, and involves assessing medical, dental, and vision insurance coverage for retirees. The district requires a comprehensive proposal package that includes a company letterhead proposal, W-9, vendor signature page, federal work authorization form, references, non-collusion affidavit, and a pricing sheet. Key evaluation criteria will focus on the firm's responsiveness, cost (which is significantly weighted), experience with school district audits, and the professional qualifications of assigned personnel. The bid was posted on August 13, 2025, with questions due by August 20, 2025, and final bids are due on August 27, 2025, at 3:00 PM CST, with the district anticipating vendor notification on September 5, 2025.

The contract opportunity does not specify specific set-aside designations for disadvantaged enterprises. The incumbent provider is SageView Consulting Group, which has been providing services for at least three years and is permitted to submit a proposal under the current bidding process. The current participant breakdown includes 2,393 total health plan members (202 retirees) and 3,251 total dental plan members (1,050 retirees), with an average active participant age of 45.4 and an average service of 10.5 years. Recent valuation fees provide some cost context, with a Full Year valuation for fiscal year 2024 costing $5,000 and a Roll-Forward Valuation for fiscal year 2025 costing $2,600. The initial contract term will be for three years, with the option to extend for two additional one-year terms. Bidders must comply with the Federal Work Authorization Program and E-Verify requirements, and the district emphasizes legal and ethical employment practices. The contract will require the selected vendor to provide detailed actuarial documentation and analysis to support the district's financial reporting needs.