Actuarial Services 2027-2032

The Central New York Regional Transportation Authority (CNYRTA) is soliciting proposals for professional actuarial services under solicitation 2026-18 for a five-year term running from April 1, 2027, to March 31, 2032. The selected professional organization will be responsible for providing actuarial valuation reports for multiple plans, including the Salaried Employees Retirement Plan, the Non-Salaried Employees Retirement Plan, and the Utica Transit Service Corporation Pension Plan. A primary deliverable is the calculation of the Actuarially Determined Employer Contribution (ADEC) for each fiscal year. All valuations must adhere to generally accepted actuarial principles and practices, and the providing actuaries must be members of the American Academy of Actuaries meeting its Qualification Standards. Proposals are due by October 14, 2026, at 1:00 PM EST via the Bonfire portal. The contract will be awarded based on best value, evaluating factors such as resource availability, personnel qualifications, overall strategy, and diversity practices. The agreement is governed by New York State law and includes mandatory compliance with New York State Standard Contract Clauses, including a ten-year record retention requirement and specific certifications regarding Iranian energy sector divestment and non-collusion. Additionally, the contractor must provide a Minority- and Women-Owned Business Enterprise Utilization Plan and an Equal Employment Opportunity Staffing Plan. Payments will be processed electronically in accordance with New York State Finance Law and the New York State Comptroller's procedures.