Actuarial Services

Suffolk County Community College is seeking qualified firms to provide annual actuarial valuation services to ensure compliance with GASB Statement No. 75, which pertains to accounting and financial reporting for postemployment benefits other than pensions. The contract is set for a four-year period, with two optional two-year renewals, allowing for continued service if mutually agreed upon. The project location is based at the college’s campus in Selden, NY, and the scope involves delivering actuarial assessments that support the college’s financial reporting obligations. The procurement process is open to firms with relevant experience, and Bolton Partners, Inc. has previously provided similar services within the last five years. The solicitation, identified as number 2113179, was posted on August 29, 2024, with a deadline for responses on September 19, 2024. The estimated contract value ranges from $200,000 to $500,000. Interested firms can access the detailed RFP documents and register through the Empire State Purchasing Group website. The contract is categorized under NAICS code 524298, which covers other insurance agencies and brokerages, indicating the specialized nature of the actuarial services required. This opportunity is part of Suffolk County’s broader efforts to maintain accurate financial reporting and compliance with state and federal accounting standards.