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GASB 75 Actuarial Valuation Consultant

Active
State & Local

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

General Info

Agency

New York → Suffolk CountyView Agency

NAICS

541612 - Human Resources Consulting ServicesView NAICS

Place of Performance

NY, USA

Set-Aside

NONE

Documents

This scope was carved out of 2026-19.

The full solicitation package (3 documents), including the RFP, is on the prime solicitation, not on this scope.

View the prime solicitation

Health Benefits Actuarial Consultant Services in accordance with Government Accounting Standards Board Statement 75 (GASB 75)

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Organization & Contact Information

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AgencyNew York → Suffolk County
ContactsNo contacts available
OfficeN/A
Organization / Agency
New York → Suffolk County
View Agency Profile
Office AddressN/A
ContactsNo contact information available

Full Description

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Performs actuarial valuations for prime contractors on County of Suffolk health benefits projects. Analyzes health insurance benefit data for retired employees and beneficiaries to determine OPEB liabilities per GASB 75 accounting standards. Utilizes actuarial valuation software and financial modeling tools. Requires Enrolled Actuary (EA) or Fellow of the Society of Actuaries (FSA) credentials. Delivers completed GASB 75 accounting reports and certifications.

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The Suffolk County Office of Central Procurement, acting for the Department of Audit and Control, is soliciting proposals for health benefits actuarial consultant services under solicitation 2026-19. The primary objective is to obtain actuarial valuations and accounting information necessary for the County to comply with Governmental Accounting Standards Board Statement 75 regarding other post employment benefits. The selected consultant will be responsible for preparing required accounting information and draft footnotes for financial statements, delivering these by April 30 of the applicable year. The scope includes analyzing health insurance benefits for retired employees and dependents, specifically those within the Employee Medical Health Plan of Suffolk County, and providing detailed disclosures on actuarial methods, assumptions, and net OPEB liability allocations. The anticipated contract term begins upon execution and runs through April 30, 2029, with two optional one-year renewals extending the potential period through April 30, 2031. Proposals are due by October 20, 2026, and will be evaluated on a 100-point scale: 40 points for general qualifications, 40 points for proposed technical services and methodologies, and 20 points for the cost proposal. Award decisions are based on best value rather than the lowest cost. The contract requires strict adherence to professional standards, including the maintenance of professional liability and workers compensation insurance. Contractors must comply with comprehensive cybersecurity measures, data protection laws, and the Suffolk County Compliance Packet, which includes lawful hiring affidavits and public disclosure statements. Payment is processed via the Suffolk County Payment Voucher within 30 days of approval by the county Comptroller, and all services are subject to the funds appropriated annually by the County Legislature.
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