SP - Actuarial Consulting Svcs

The State of Illinois, through the Illinois State Toll Highway Authority (ISTHA), is seeking a qualified vendor to provide Actuarial Consulting Services for a four-year term from August 1, 2022 to July 31, 2026. The required services may include reviewing actuarial reports prepared by Central Management Services (CMS) and State Employees Retirement System (SERS), providing assessments of their actuarial assumptions and methodologies, and potentially performing independent re-calculations of their valuations. The Tollway is seeking these services to comply with various accounting pronouncements related to employee pension and health benefits, specifically Government Accounting Standards Board "GASB 68" and "GASB 75" statements. Vendors must have appropriate qualifications, certifications, and a minimum of two (2) years' experience in the requested services. Pricing shall be provided on an hourly rate basis, which will be valid for 180 days from the date of submission, and the Tollway is guaranteed the lowest price. The contract will be awarded to the responsive and responsible bidder with the lowest price.

This procurement is being conducted as a small purchase in accordance with CPO Notice 2020.06, requiring electronic bid submissions only via email or BidBuy. No manual paper submissions will be accepted. The RFQ does not specify any set-aside designations or restrictions on the types of organizations that can respond. Additionally, it does not list any incumbent vendors or current contractors, nor does it provide any information on existing infrastructure or technology that requires integration. The estimated annual quantity of actuarial consulting services is 100 hours, but the RFQ does not include any listed award values or budget ranges.