Statewide Actuarial Services
Title:  

Statewide Actuarial Services

Agency:  

Arkansas Office of State Procurement

State:  

Arkansas

NAICS Code:  

541612

Industry:  

Government

Solicitation Type:  

Request for Proposal

Solicitation ID:  

S000000288

Open Date:  

6/13/2025

Questions Due Date:  

6/22/2025

Close Date:  

7/14/2025

Projected Award Date:  

10/15/2025

Project Duration:  

3 years

Last Updated:  

7/1/2025

Description:
The State of Arkansas is seeking proposals from qualified contractors to provide statewide actuarial services. The goal is to establish contracts for actuarial services for use by Arkansas state agencies, K-12 educational institutions, and local public procurement units. The contract will be for a period of three years with the possibility of renewal for up to four additional one-year terms. The Contractor shall provide actuarial services, including life insurance, health insurance, pension, property and casualty, enterprise risk management, investment and finance actuarial services. • The contract will be awarded to multiple contractors based on their proposals, with the possibility of awarding contracts to multiple contractors for different categories of actuarial services. The scope of work includes providing actuarial services to purchasing entities, including the development of actuarial models, forecasts, and reports. The State requires that the contractor shall have professional experience as the actuary of record for at least five years and for at least ten years within its category of actuarial service. The contractor must also have industry certifications for all key personnel who will provide actuarial work under the resulting contract. The contractor will be required to submit a proposal that includes a technical proposal packet, a signed proposal signature page, a completed official solicitation price sheet, a recommended options form, a copy of the contractor's equal opportunity policy, and a copy of the contractor's subcontractor list. The State is seeking to obtain competitive pricing for actuarial services, with the goal of obtaining levelized rates for actuarial services and leveraging statewide buying power to obtain the most competitive pricing available. The State is also seeking contractors who can provide expert guidance and advice on actuarial matters.
Attached Files:

Please visit the bid source via the “Link to Bid Source” button below for documentation.

Contact Information:

Wendy Hickok(Procurement Specialist)

Wendy.hickok@arkansas.gov

(501) 324-9314

Budget Estimate (AI):

$200,000 – $1,000,000

Based on the provided information, it seems like the contract for actuarial services will likely be worth tens of thousands to hundreds of thousands of dollars over the course of three years, given the range of services that will be provided to state entities. Factors influencing this estimate include the scope of work, the number of purchasing entities, and the hourly rates proposed. The State may order more or less than the estimated quantity on term contracts, and the Contractor shall sell to the Department quantities ordered at no more than the submitted price.

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