PFML Actuarial Analysis and Feasibility Study

The Department of Labor and Industrial Relations is seeking a qualified actuarial and program implementation consulting firm to conduct a comprehensive actuarial analysis, labor market impact assessment, and implementation framework for a statewide Paid Family and Medical Leave (PFML) program in Hawaii. The scope of work includes providing a feasibility analysis, assessing program costs, and developing an implementation plan. The contractor will be required to provide a detailed report, including actuarial models, program design, and staffing plans. The project is expected to last 12 months, with key milestones and deliverables due at various points throughout the project. • The contractor will be responsible for conducting a comprehensive actuarial analysis, including assessing program costs, benefit structures, and contribution rates. • The contractor will develop a detailed implementation plan, including a project timeline, milestones, and deliverables. • The contractor will provide a staffing plan, including role descriptions, workload projections, and recommendations for staffing levels. • The contractor will conduct a comparative analysis of other state PFML programs to identify best practices and lessons learned. • The contractor will provide a final report, including all findings, recommendations, and supporting documentation.