Total Compensation Actuarial Services

The Colorado Department of Personnel and Administration is soliciting proposals for total compensation and actuarial consulting services under RFP AABA 2027-0047, with proposals due October 22, 2026 at 2:00 PM Mountain Time. Service-Disabled Veteran Owned Small Business (SDVOSB) offerors are encouraged and must provide verification of certification through the U.S. Department of Veterans Affairs.

The scope encompasses annual compensation reports (years 1, 2, 4, and 5) and a comprehensive quadrennial total compensation report (year 3) analyzing state salary structures, benefits, and total compensation competitiveness against public and private sector benchmarks. The contractor will evaluate 200 to 250 benchmark job classifications annually covering 16,000 to 18,000 employees, with specific focus on 50 to 75 harder-to-place positions. Deliverables include work plans, market study methodology, benchmark job lists, comparable employer data, market and classification analyses, benefits valuations, and executive summaries due no later than June 30 and January 31. The contractor must support legislative audit inquiries and ad-hoc analyses at state request and maintain a Business Continuity Plan addressing disaster recovery. Work is performed in support of the State's compensation administration team rather than independently authoring reports.

The contract term runs February 1, 2027 through January 31, 2028, with potential five-year total duration including optional extensions at State discretion. Year 1, 2, 4, and 5 budgets are $54,000 annually; year 3 (quadrennial) is budgeted at $300,000. Ad-hoc projects are compensated on time-and-materials basis with fully burdened hourly rates. The contractor must hold minimum five years of actuarial consulting experience with organizations exceeding 10,000 employees and three years of public sector client experience. A Project Lead and Benefits Subject Matter Lead must be designated for quadrennial years. No more than 40 percent of work may be subcontracted. Key Personnel cannot be voluntarily changed without State approval.

Evaluation criteria are weighted as follows: 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%). The State reserves the right to award to one or multiple offerors. Vendor inquiry deadline was September 29, 2026; intent to bid deadline was October 6, 2026. Anticipated Notice of Intent to Award is November 25, 2026, with estimated contract execution by January 31, 2027. The awarded offeror must register to conduct business in Colorado within ten business days after receiving Notice of Intent to Award.