GASB 75 Other Post-Employment Benefits Actuarial Services

Spokane Transit Authority is requesting proposals for GASB 75 Other Post-Employment Benefits actuarial services under RFP 2026-11262, with proposals due November 2, 2026 at 4:00 PM Pacific Time and a pre-proposal conference on October 13, 2026 at 2:30 PM Pacific Time via Microsoft Teams.

The scope covers annual actuarial valuations and accounting disclosures for STA's retiree health benefit programs, including medical, dental, vision, life insurance, and bus pass benefits. Final actuarial reports are due annually no later than February 15 for fiscal years ending December 31, 2027 through December 31, 2032. STA currently has approximately 813 active employees and recorded a Net OPEB liability of $6,959,959 as of the 2025 actuarial valuation. Proposers must be registered to do business in Washington State and maintain professional liability insurance of $2,000,000 per claim, general liability of $1,000,000 per occurrence, and automobile liability of $1,000,000 combined single limit.

The contract term is five years with no renewal options. Pricing is submitted on a per-year basis with separate line items for each year (2027–2031) and is fixed for the five-year term. Evaluation criteria are weighted as follows: qualifications and relevant experience of key personnel (30 percent), technical approach and understanding of STA's OPEB plans (25 percent), project management and deliverables (15 percent), and cost (30 percent). All proposals must remain valid for a minimum of 90 days from the proposal due date or best and final offer date, whichever is later. STA reserves the right to reject any proposals, negotiate with shortlisted proposers, and request best and final offers if necessary.