Otay Municipal Water District Planet bids #FY27-2331-0930

Otay Water District OPEB actuarial valuation and reporting services

Otay Water District is seeking actuarial consulting services for retiree medical and dental benefits and related OPEB reporting. - Buyer: Otay Water District, Purchasing office. - Services requested: GASB 75 actuarial valuations and accounting reports; actuarially determined contribution calculations; valuation support for CERBT’s GASB 74 reporting; and actuarial analysis of proposed benefit changes. - Supplemental analysis: Assess whether changes that closed the plan to new entrants are generating projected savings, comparing assumptions with actual experience and updating future cost and savings estimates. An optional study would assess the net cost or savings of benefit enhancements compared with increased employee contributions. - Presentations and reporting: Present findings to the Finance Committee and Board, and provide actuarial reports on proposed OPEB changes as needed. The District reports 63 active employees potentially eligible for OPEB and 91 retirees receiving benefits. - Period: The initial work includes a valuation and reporting across two fiscal-year reporting periods. An optional extension adds another valuation and reporting across two further fiscal-year periods. The solicitation does not specify fixed contract start or end dates; this is not an annual subscription. - Organizations named: Blue Shield and Kaiser Permanente are referenced as health plan entities; the Special District Risk Management Authority (SDRMA), California Employers’ Retiree Benefit Trust (CERBT), and California Public Employees’ Retirement System (CalPERS) are referenced in connection with benefits, funding, or reporting. PlanetBids is the proposal platform. PB and SevenOutsource appear in a prospective-bidder table; neither is identified as the selected actuarial consultant. - OEMs and products: No product purchases, part numbers, or OEMs are specified. The procurement is for professional actuarial services. - Notable requirements: Work must follow GASB reporting requirements and actuarial standards of practice, document assumptions and methods, reconcile material changes from prior valuations, and align District disclosures with CERBT’s audited employer asset schedule.

Description

Otay Water District seeks proposals from qualified actuarial firms to value its retiree medical and dental benefits as of June 30, 2026, in accordance with GASB Statement No. 75. Work includes related accounting schedules and disclosures, valuation information for CERBT reporting, an actuarially determined contribution calculation, and a supplemental evaluation of the 2024 OPEB plan changes. The solicitation also requests findings presentations and actuarial reports on proposed OPEB changes; an optional extension may include a June 30, 2028 valuation and related reporting and supplemental analyses. Proposals are submitted electronically through PlanetBids, with separate technical and cost proposals.

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