This Solicitation opportunity from California was posted on March 29, 2024. The submission period has ended. Browse the details below for market research, or find similar active opportunities.
OPEB Actuary Services 2024-2028 (Other PostEmployment Benefits)
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The City of Sacramento’s Department of Finance is seeking proposals from qualified actuarial firms to conduct valuations of the City’s Other Postemployment Benefits (OPEB) obligations in accordance with GASB 74 and 75 standards. The scope involves providing comprehensive actuarial assessments that reflect the City’s current OPEB liabilities, which include medical, dental, and vision benefits extended to retirees and their survivors. The City funds these benefits primarily on a pay-as-you-go basis but has also established a CalPERS OPEB trust fund, which as of January 2024 holds $109 million. The last valuation was performed as of June 30, 2021, revealing a population of over 3,500 active employees, nearly 3,400 retirees or survivors receiving benefits, and additional vested employees eligible for benefits. The contract, titled "OPEB Actuary Services 2024-2028," was posted on March 29, 2024, with a response deadline of April 26, 2024. It is managed under the NAICS code 524298, indicating its focus on insurance agencies, brokerages, and related services. The City’s OPEB program is part of its broader retirement and benefit plans, which include participation in CalPERS for pension benefits and a separate City-administered health plan. The selected firm will be responsible for providing actuarial valuations that support financial reporting, funding strategies, and ongoing management of the City’s OPEB liabilities, ensuring compliance with applicable standards and accurate reflection of the City’s financial position regarding postemployment benefits.
General Info
Place of Performance
CA, USASet-Aside
Documents
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Timeline
Submission Closed
Organization & Contact Information
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