SP - Actuarial Consulting Svcs

Paragraph 1:

The Illinois State Toll Highway Authority (ISTHA) is seeking a qualified vendor to provide Actuarial Consulting Services for a five-year term from July 1, 2022 to June 30, 2027. The required services include reviewing actuarial reports prepared by the State's Department of Central Management Services (CMS) and State Employees Retirement System (SERS), reviewing formulas and methods used by CMS and SERS actuaries, and potentially performing independent re-calculations of their actuarial valuations. The vendor must have a minimum of two years' experience in the requested services and be qualified to issue Statements of Actuarial Opinion. Pricing is provided on an hourly rate basis with an estimated annual quantity of 100 hours per year. The contract will be awarded to the responsive and responsible bidder who submits the lowest price.

Paragraph 2:

The procurement process will be conducted electronically, and no manual paper submissions will be accepted. The contract may be funded partially or fully with federal funds. No set-aside designations or restrictions on the types of organizations that can respond are specified. The procurement documents do not indicate any incumbent vendors or current contractors, nor do they mention any existing infrastructure or technology that requires integration. The total value of the five-year contract is not explicitly stated, but the annual estimate of 100 hours per year provides an indication of the potential budget range.