Description
The State Board of Administration (SBA) is seeking a qualified actuarial consulting firm to provide comprehensive actuarial services for the Stanley G. Tate Florida Prepaid College Program. The work includes developing transition plans, annual planning, quarterly and annual actuarial valuations, cash‑flow projections, sensitivity analyses, annual plan pricing, data security, reporting, board presentations, and optional value‑added services such as dashboards or workshops. The contract will be a five‑year term with up to five additional one‑year renewal options, beginning April 2027. Respondents must assign a primary actuary with at least five years of relevant experience and meet specific professional qualifications. Submissions are due 7 December 2026, with a clarification deadline of 30 October 2026.
• Scope: Quarterly & annual actuarial valuations, cash‑flow modeling, pricing, sensitivity studies, data review, transition planning, and advisory services.
• Deliverables: Four quarterly valuation letters, one annual valuation report, annual pricing report, supporting data files, presentations to the Board, and optional workshops or tools.
• Schedule: Open 14 Oct 2026 – Close 7 Dec 2026; contract effective April 2027; 5‑year base term.
• Qualification: Primary actuary must be a member in good standing of the American Academy of Actuaries with ≥5 years experience in 529 tuition‑program actuarial work.
• Evaluation: Points awarded for organizational experience, scope of services, value‑added proposals, and pricing.