Actuary services for opeb

Greenville County, South Carolina is soliciting proposals for Actuary Services related to Other Post-Employment Benefits (OPEB) through RFP #26036. The procurement aims to secure a vendor to provide comprehensive actuarial services for Greenville County and the Greenville County Library System, with an initial one-year contract and potential for up to four annual renewals. The selected vendor will be responsible for preparing detailed actuarial reports that comply with Governmental Accounting Standards Board (GASB) Statement No. 75, which includes determining benefit costs, projecting future benefit payments, calculating present values, and providing necessary financial reporting information. The proposal evaluation will utilize a 35-point system with equal weight given to seven criteria: responsiveness, cost, experience, references, technical support, actuarial qualifications, and compliance with state standards. Proposals are due on November 3, 2025, at 3:00 pm, with a question submission deadline of October 13, 2025. Vendors must submit comprehensive proposals detailing company background, health plan actuarial experience, qualifications, references, and a proposed project approach.

While no specific set-aside designations were mentioned in the documentation, the RFP requires vendors to meet comprehensive professional standards and insurance requirements, including $1,000,000 in general liability coverage, $1,000,000 in automobile liability, and statutory worker's compensation insurance. The County reserves the right to negotiate final contract terms and may request interviews or demonstrations from potential vendors. Though a specific budget range was not explicitly stated, the contract will be structured with 30-day payment terms and require separate pricing for the County and Library System. The procurement documents indicate this is a professional services contract seeking specialized actuarial expertise to fulfill critical financial reporting requirements. Potential vendors should be prepared to demonstrate advanced technical capabilities in OPEB valuation, governmental accounting standards, and comprehensive financial reporting methodologies.