RFP No. 267017 Actuarial Services for Valuation of Other Post-Employment Benefits (OPEB)

The City of Salem, Oregon Finance Department is issuing RFP No. 267017 for qualified actuarial firms to provide Other Post-Employment Benefits (OPEB) valuation services. The procurement encompasses actuarial valuation services for six employee and bargaining groups: Unrepresented employees, AFSCME, IAFF, PCEA, SCABU, and SPEU. The scope of work requires a single comprehensive biennial full GASB 75 compliant actuarial valuation with interim year roll-forward reports, with valuations covering approximately 1,303 active employees and 46 retiree participants in the City's self-insured medical program administered by Cigna. Deliverables must include completed valuation reports by September 30 following the June 30 fiscal year-end to support financial statement preparation and audit fieldwork, along with detailed fee proposals including total costs and hourly rates for assigned personnel. Required qualifications include evidence of professional liability insurance with combined single limits of not less than $2,000,000 and commercial general liability insurance with the same minimum coverage. Evaluation criteria are weighted as follows: Quality and Completeness of Proposal (10 points), Proposer's Prior History in Performing Actuarial Consulting (15 points), Qualifications of Firm and Staff (15 points), Ability to Perform Work Within Specified Timeframe (20 points), Fee Proposal (30 points), and References (10 points). Proposals must be submitted electronically via Equity Hub's Bid Locker by April 24, 2026, at 4:00 PM local time, with written questions and clarifications due to the Contracts and Procurement Manager by April 10, 2026, at 5:00 PM local time. The anticipated contract award is scheduled for May/June 2026, with a notice to proceed on July 1, 2026.

The RFP contains no specific set-aside designations or restrictions limiting participation to particular categories of organizations based on disadvantaged enterprise status. Nyhart, the incumbent vendor, has provided GASB-compliant OPEB valuations for the City for seventeen years and is invited to submit a new proposal; however, no incumbent contractor is formally identified in the current solicitation materials. The existing infrastructure utilizes the City's self-insured medical program with Cigna as administrator, and proposers must integrate with the City's current system while building upon previously completed GASB 75 valuations for fiscal years ending June 30, 2024 and 2025. The anticipated budget for this contract is $10,000 for full biennial valuations and $3,200 for interim year updates, based on historical pricing paid to Nyhart; however, the City does not specify a predetermined maximum contract amount and reserves the right to negotiate final scope and pricing with the selected proposer. The contract term runs from July 1, 2026, through June 30, 2027, with renewal options for an additional five one-year extension periods contingent upon satisfactory service performance, budget approval, and written agreement from the contractor at least sixty days prior to expiration. All meetings and presentations may be conducted remotely via voice conference or web-based services, with no formal onsite presentations required.