RFP 2026 PR 9123 Actuarial Services

The Orlando Utilities Commission is soliciting proposals for actuarial consulting services under RFP 2026 PR 9123, with proposals due June 3, 2026 at 2:00 PM EST. This solicitation has been awarded to Gabriel, Roeder, Smith & Company as the apparent awardee as of July 2, 2026, pending contract execution.

The scope encompasses annual actuarial valuations, GASB 67/68 and GASB 74/75 reporting, regulatory filings, actuarial studies, benefit consulting, and advisory services for the OUC Pension Plan, OUC Defined Benefit and Defined Contribution Plans, Other Post-Employment Benefits Trust, and self-insured medical program. Valuation reports are due mid-February each year following data submission in mid-December for pension and early January for OPEB. Typically one onsite meeting per year is required for pension and OPEB plans, with additional meetings as needed.

OUC intends to enter into a three-year contract with options to renew for up to two additional one-year terms at OUC's discretion. No cost increases are permitted during the initial three-year term; renewal periods may allow annual rate adjustments not to exceed three percent. The anticipated budget is approximately $150,000 annually based on 2024–2025 average spend. Pricing must be submitted as fully burdened hourly labor rates for three staffing levels (Principal Consultant, Other Consultant, Assistant) plus flat-rate pricing for eight specified annual reports.

Ten mandatory pass/fail minimum qualifications apply: five years of actuarial valuation and pension consulting experience with Florida public sector plans; primary business line in actuarial services; experience with plans of $500 million or greater in assets; supervising actuary role within the last five years; demonstrated technical capabilities in funding valuations, GASB reporting, and experience studies; prior work with Florida municipalities; independence and adherence to Actuarial Standards of Practice; principal actuary with ten years of experience, Enrolled Actuary status, Fellowship in the Society of Actuaries, and American Academy of Actuaries membership; current Florida licenses and professional liability and errors and omissions insurance; and adequate resources and capacity.

Gabriel, Roeder, Smith & Company has served as the incumbent since October 2019 and is eligible to resubmit. Questions were due May 11, 2026. Addendum No. 01 issued May 28, 2026 addressed 45 proposer questions. Proposals must be submitted electronically through VendorLink.com and acknowledge receipt of the addendum or risk being deemed non-responsive. The proposal opening will be conducted virtually; the public may request access from the Buyer of Record, Dom P. Sotero (dsotero@ouc.com), no later than one business day prior to opening.