PS - RFP for Actuarial Services- Public Education Employee Injury Compensation Board

The Public Education Employee Injury Compensation Board of Alabama is requesting proposals for actuarial services via RFP, with proposals due September 15, 2026 at 4:30 PM CT and questions due September 1, 2026 at 5:00 PM CT.

The Board is establishing a new workers' compensation program effective October 1, 2026, covering full-time Alabama education employees and adult bus drivers employed by city and county boards of education, public charter schools, the Alabama Community College System, the Alabama Institute for Deaf and Blind, and specialty schools. The program is projected to receive approximately 1,800 medical-only claims and 700 lost-time claims annually. The selected actuary will provide quarterly actuarial analyses beginning in the first quarter of fiscal year 2027, including program overviews, funding recommendations, reserve projections, scenario analyses, legislative reports, and interactive financial modeling examples. Legislative presentation support may be required. Meetings may be conducted virtually.

The initial contract term is two years. Respondents must submit a detailed fee proposal specifying either a total fixed fee or not-to-exceed fee, with the option to propose different rates for each year of the initial two-year contract.

The Board will fund the program through legislative appropriations of $15.6 million for FY2026 and $6 million for FY2027, with no traditional insurance premiums involved. The Board has not yet selected an audit or accounting firm, established a preferred confidence level for funding recommendations, or determined whether funding corridors will be included in the program.

The Board will provide State Board of Adjustment records, utilization data through the third-party administrator, and claim-level extracts, though employer-level payroll detail by job classification and county may not be available. Vendors must be registered with Alabama Buys prior to submission and must comply with Alabama state law requirements, including E-Verify enrollment and the Beason-Hammon Alabama Taxpayer and Citizen Protection Act. Foreign entities must register with the Alabama Secretary of State before transacting business in the state.