WAIVE SOLICITATION AND APPROVE SINGLE SOURCE - PENSION ADMINISTRATION SOFTWARE

The City of Altamonte Springs, located in Seminole County, Florida, is seeking to procure a pension administration software and benefit estimator calculation tool through a single-source procurement from Gabriel, Roeder, Smith & Company (GRS), the city's current actuary. The procurement aims to manage the city's General Employees' and Police Officers' Pension Plans by acquiring software that will automate complex administrative processes, simplify member enrollment, maintain precise records, and provide employees with a tool to estimate future pension benefits. The city published a Notice of Intent to Single Source on March 14, 2025, with a response deadline of 4:30 p.m. on March 19, 2025, inviting interested vendors to submit alternative solutions that could overcome the sole-source justification. The primary evaluation criteria include the ability to provide equivalent commodities or services, cost savings potential, and capacity to reduce staff time spent on pension administration. No competitive responses were received during the specified period, which strengthens the city's intent to proceed with GRS as the sole vendor.

The procurement appears to have no specific set-aside designations or restrictions on respondent types, and the opportunity was open to any vendor capable of providing equivalent pension administration software. The incumbent and proposed vendor is Gabriel, Roeder, Smith & Company (GRS), which currently serves as the city's actuary and will provide the software solution. The existing infrastructure involves the city's current pension management systems, and the new software is expected to integrate and improve upon these. While precise budget details are not explicitly stated, the documentation indicates that the total cost for the system and tool for both pension plans exceeds $50,000. The contract will have an initial one-year term upon implementation, with options for annual renewal and a provision for either party to terminate with ninety days' written notice. Funds for the procurement are confirmed to be available in both Pension Fund budgets, and the city anticipates significant efficiency improvements and potential cost savings through this software acquisition.