SIF Actuarial Services

The Texas Department of Insurance (TDI) has issued a Request for Proposals (RFP) for SIF Actuarial Assessment and Reports, solicitation number 454-25-0506-32903-YF. The contract seeks an actuarial services provider to perform comprehensive assessments of the Subsequent Injury Fund (SIF), with critical objectives including evaluating solvency trends, projecting future income flow, analyzing claims payments, calculating lifetime income benefit reserves, and determining legislative appropriation needs. Qualified respondents must have a minimum of five consecutive years of experience providing actuarial services to governmental entities, with specific expertise in determining outstanding liabilities, analyzing injury funds, and developing solvency models. The contract will run from September 1, 2025, through August 31, 2027, with potential extensions of up to two additional years. Proposals are due by June 9, 2025, at 3:00 p.m. Central time, with an anticipated award date of August 1, 2025. The evaluation criteria will be comprehensive, allocating 25 points to cost, 35 points to qualifications and experience, and 40 points to compliance with specifications, with potential negative points for past performance and proposal format.

The RFP does not explicitly mention specific set-aside designations or restrictions on respondent types. The contractor will be required to provide detailed actuarial reports on even-numbered years, with a draft report due August 1 and a final report due November 1. Compensation will be based on actual costs incurred and approved by TDI. While specific budget ranges are not definitively stated in the available documentation, the contract will be awarded on a best value standard that considers multiple factors beyond pricing. The procurement appears to be open to qualified actuarial firms with demonstrated experience in governmental financial analysis, particularly those with expertise in injury fund management and comprehensive financial modeling. The contract's focus on the Subsequent Injury Fund suggests a specialized need for technical actuarial expertise in assessing complex financial landscapes within the Texas government's insurance and compensation frameworks.