ACTUARIAL SERVICES

The Central Oklahoma Transportation and Parking Authority (COTPA), doing business as EMBARK, is seeking a professional actuarial services consultant to perform comprehensive actuarial valuations for their pension plan. The solicitation, identified as RFP-COTPA 25-006, requires a qualified firm to conduct annual actuarial valuations following GASB 67 and GASB 68 standards for a pension plan covering approximately 335 active employees and 100 retirees. Key deliverables include data analysis, liability calculations, comprehensive reporting, and potential consulting on plan design and legislative impacts. Proposers must have primary experience with public pension plans, with actuaries meeting American Academy of Actuaries professional standards, and a primary actuary possessing at least ten years of relevant experience. The procurement timeline includes proposal submissions due by 4:00:00 p.m. CST on April 30, 2025, through the Electronic Bidding System (Bidnet), with questions accepted until April 24 at 12:00 pm. The contract period spans fiscal years 2025-2030, with anticipated proposer selection by May 1, 2025, and estimated Professional Services Agreement execution by June 6, 2025.

The solicitation does not explicitly mention specific set-aside designations or restrictions for disadvantaged enterprises. The contract offers flexibility with pricing structures for actuarial valuation services, including options for two-year and full annual valuation cycles, with additional provisions for consulting services and hourly rates for supplemental work. While no incumbent vendors are identified, the contract includes provisions for potential two additional one-year renewal periods beyond the initial five-year term. The fee proposal structure allows proposers to price actuarial valuation services, annual GASB reporting, and general consulting services across the contract period. Proposers must submit comprehensive proposals including company history, project team details, technical experience, client references, and a detailed fee proposal. The contract will be governed by Oklahoma law, with venue in state or federal court in Oklahoma County, and will require specific insurance coverage, including Workers' Compensation, General Liability Insurance, and Automobile Liability Insurance, with coverage limits ranging from $25,000 to $1,000,000.