GASB 75 OPEB Liability Actuarial Valuation for Fiscal Year 2026

The City of Clermont is soliciting quotes for a comprehensive GASB 75 Other Postemployment Benefits (OPEB) liability actuarial valuation report covering the fiscal year ending September 30, 2026, along with estimated results for the fiscal year ending September 30, 2027. The selected actuarial firm will be responsible for analyzing provided demographic and benefit plan data, establishing appropriate actuarial assumptions, calculating the total OPEB liability, service cost, interest cost, and deferred inflows and outflows of resources, and preparing a final report that meets all GASB 75 requirements for inclusion in the City’s annual financial statements and audit process. The firm must coordinate with City finance staff and the external auditor, and deliver the final report no later than October 16, 2026, contingent upon timely receipt of all required information from the City. The work is expected to begin in mid-July 2026 and must be completed within a 90-day period from the notice to proceed. The solicitation, identified as QR 26-097 and posted on May 14, 2026, with a response deadline of May 28, 2026, is open to qualified actuarial firms registered with the State of Florida and compliant with all local procurement regulations. Proposals must be submitted electronically through the OpenGov Clermont Portal, and all responses must include a completed vendor W-9, conflict of interest disclosure, and acknowledgment of contract terms. The City specifies that awards will be made on a lowest price technically acceptable basis, with tie-breaking based on quality of service, delivery time, vendor participation in drug-free workplace programs, proximity to City Hall, and ultimately a coin flip. The contract prohibits assignment without approval, requires the vendor to maintain insurance naming the City as additional insured, forbids contingency fees and collusive practices, and mandates compliance with Florida Executive Order 22-216 regarding ICT vendor restrictions. All deliverables must be new, of the best quality, and meet all technical specifications for GASB 75 compliance, with the City retaining full ownership of all data, analysis, and reports produced. No contract value is specified, and no formal FAR clauses are incorporated; instead, municipal terms from the City’s own contractual framework govern performance, inspection, acceptance, audit rights, termination, and dispute resolution.