Total Compensation Actuarial Services

The State of Colorado Department of Personnel and Administration is requesting proposals for total compensation actuarial services under RFP AABA 2027-0047, with proposals due October 22, 2026 at 2:00 p.m. Mountain Time. Service-Disabled Veteran-Owned Small Business (SDVOSB) offerors are encouraged to submit certification documentation if claiming this status.

The scope encompasses annual compensation reviews and quadrennial total compensation reports mandated by C.R.S. 24-50-104, including market analysis, benchmarking of compensation components against public and private sector data, salary structure and benefits program evaluation, and development of findings and recommendations for competitive total compensation practices. Deliverables include work plans, market study methodologies, benchmark job classifications, comparable employer analyses, classification and compensation structure analyses, benefits analyses, and comprehensive final reports with executive summaries. The contractor must designate a Project Lead and, during quadrennial years, a Benefits Subject Matter Lead as key personnel. Minimum qualifications require at least five years of actuarial consulting experience with organizations exceeding 10,000 employees, at least three years serving public sector clients, and at least one key personnel member meeting equivalent experience thresholds. The contractor must employ a transparent, mathematically sound methodology incorporating public and private sector data, provide comprehensive audit documentation, and maintain a business continuity plan with disaster recovery procedures.

The contract term runs February 1, 2027 through January 31, 2028, with anticipated extensions not to exceed five years total. The State allocated $54,000 annually for years 1, 2, 4, and 5, and $300,000 for year 3 (the quadrennial report year). Compensation is structured on milestone-based payments upon State acceptance of deliverables, with ad hoc projects compensated on a time-and-materials basis at fully burdened hourly rates subject to prior written State approval. Offerors must submit firm, fixed prices covering all related costs.

Evaluation uses weighted criteria: Technical and Functional Capabilities (30%), Customer Service (15%), Cost/Pricing (15%), Security, Compliance & Performance (10%), Accessibility Requirements (10%), Qualification & Key Personnel (10%), and Reporting (10%). Inquiries are due September 29, 2026; intent to bid notification is due October 6, 2026. A virtual pre-proposal meeting is planned. The State anticipates issuing a Notice of Intent to Award on November 25, 2026, with contract execution by January 31, 2027. Awards may be made to multiple offerors. The procurement contact is Lisa Barela (lisa.barela@state.co.us).