New York State Contract Reporter #2140471

ORDA OPEB Actuarial Valuation and Consulting Services

The New York State Olympic Regional Development Authority is seeking an actuarial firm for OPEB valuation, financial reporting support, and related consulting. - Government buyer: New York State Olympic Regional Development Authority (ORDA), Administration Division. - Scope: Prepare actuarial valuations of ORDA’s other postemployment benefits (OPEB) and related financial-statement disclosures; provide support for applicable Governmental Accounting Standards Board (GASB) requirements, including GASB 74/75. - Additional services: Review census data and benefit provisions; analyze assumptions and liability changes; perform benefit-plan studies, projections, experience analyses, and scenario modeling; and provide ongoing actuarial consultation and audit support. - Deliverables and requirements: Draft and final valuation reports, supporting schedules and calculations, documented data review, and explanations of assumptions, methods, and significant liability changes. Work supports financial reporting, budgeting, and financial planning and must follow applicable actuarial standards. - OEMs and products: No OEMs, manufactured products, product quantities, or part numbers are specified; this is a professional-services procurement. - Previously identified similar-contract businesses: ANNIE BROWN CONSULTING ACTUARY, PLLC and PRM CONSULTING GROUP are mentioned as businesses awarded substantially similar contracts previously; neither is identified as the selected vendor for this opportunity.

Description

The NYS Olympic Regional Development Authority is seeking qualified actuarial firms to provide actuarial valuation and consulting services. The primary work is preparing actuarial valuations and related disclosures for the Authority’s other postemployment benefits (OPEB), supporting financial statements and applicable GASB requirements. Additional services may include actuarial studies, projections, experience analyses, benefit modeling, and other actuarial consulting. The contract is initially for one year, with four one-year renewal options.

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