Request for Proposals for Professional Actuarial Services Pension and Other Post-Employment Benefits
| Location: | California |
|---|---|
| Posted: | Jan 7, 2026 |
| Due: | Feb 20, 2026 |
| Agency: | City of Moorpark |
| Type of Government: | State & Local |
| Category: |
|
| Publication URL: | To access bid details, please log in. |
| Bid Title: |
Request for Proposals for Professional Actuarial Services Pension and Other Post-Employment Benefits
|
| Category: | Request for Proposals |
| Status: | Open |
|
Attachment Preview
CITY OF MOORPARK
REQUEST FOR PROPOSALS
FOR
PROFESSIONAL ACTUARIAL SERVICES FOR
ACTUARIAL VALUATION, ANALYSIS, REPORT AND ACFR
COMPLIANCE ON OTHER POST-EMPLOYMENT BENEFITS (OPEB)
AND
GASB 68 ACTUARIAL INFORMATION FOR CALPERS COST-SHARING
(RISK POOL) PLANS AND GASB 68 ACFR COMPLIANCE
Issue Date:
January 7, 2026
Submittals Due By:
February 20, 2026
by 5:00 PM PST
City of Moorpark
Attn: City Clerk
323 Science Drive
Moorpark, California 93021
CITY OF MOORPARK
NOTICE
REQUEST FOR PROPOSALS (RFP)
Pension and Other Post-Employment Benefits Actuarial Services
Notice is hereby given that sealed proposals will be received by the City Clerk’s Office until
February 20, 2026 at or before 5:00 p.m. local time, for performing all work necessary and
incidental to:
Pension and Other Post-Employment Benefits Actuarial Services, which is further described in
the Proposal Packet.
For additional information about this Request for Proposal, contact:
Gilbert Punsalan
Budget & Finance Manager
323 Science Drive
Moorpark, CA 93021
(805) 517-6226
gpunsalan@moorparkca.gov
PROPOSAL DUE DATE: Proposals must be received by, February 20, 2026, no later than 5:00
p.m. Proposals are to be mailed or delivered to the City and clearly marked “Proposal for
Actuarial Services”, City of Moorpark, Attn: City Clerk, 323 Science Drive, Moorpark, CA 93021.
CITY OF MOORPARK
Hiromi Dever
Finance Director
CITY OF MOORPARK
REQUEST FOR PROPOSALS
PENSION AND OTHER POST-EMPLOYMENT BENEFITS ACTUARIAL SERVICES
TABLE OF CONTENTS
I. INTRODUCTION
1
A. General Information
1
B. Term of Engagement
2
II. NATURE OF SERVICES REQUIRED
2
A. Scope of Work to be Performed
2
B. Working Paper Retention
3
C. Irregularities and Illegal Acts
3
D. Use of Valuations and Reports
4
III. TIME REQUIREMENTS
4
A. Proposal Calendar
4
IV. PROPOSAL REQUIREMENTS
4
A. General Requirements
4
B. Format for Proposal
5
C. Contents of Technical Proposal
5
D. Contents of Cost proposal
7
V. EVALUATION PROCEDURES
7
A. Review of Proposals
7
B. Evaluation Criteria
8
ATTACHMENT A
Cost Proposal Form
9
Standard Billing Rates
9
CITY OF MOORPARK
REQUEST FOR PROPOSALS
PENSION AND OTHER POST-EMPLOYMENT BENEFITS ACTUARIAL SERVICES
I. INTRODUCTION
A. General Information
The City of Moorpark (City) is requesting proposals from qualified professional actuary
firms (Actuary) to perform professional actuarial services of its retiree healthcare program
through CalPERS and actuarial services of its pension cost-sharing plans through
CalPERS. The actuary will need to prepare a bi-annual actuarial valuation for the City’s
Other Post-Employment Benefits/retiree health benefits and provide the associated
information required to comply with Governmental Accounting Standards Board (GASB)
Statement No. 75. The actuary will also need to provide information for the City’s cost
sharing (risk pool) pension plans required to comply with GASB Statement No. 68.
The GASB sets reporting standards for the preparation of financial reports for state and
local governments. The City seeks assistance in the calculation of the actuarial accrued
liability of its OPEB as defined and adopted within GASB Statement No. 75. The actuary
will also provide the City an actuary valuation and the information needed to present the
appropriate assumptions and schedules in its financial statements as required by GASB
Statement No. 75. The valuation will be performed bi-annually but the supplemental
information to comply with GASB Statement No. 75 will be performed annually.
Furthermore, the actuary will provide annually, the information needed to present the
appropriate assumptions and schedules in its financial statements as required by GASB
Statement No. 68 based on the CalPERS actuarial valuation for the City’s Classic
miscellaneous and PEPRA miscellaneous plans Cost-Sharing (risk pools).
There is no expressed or implied obligation for the City of Moorpark to reimburse
responding firms for any expenses incurred in preparing proposals in response to this
request. Materials submitted by respondents become the property of the City of Moorpark
upon its receipt by the City.
During the evaluation process, the City of Moorpark reserves the right, where it may serve
the City’s best interest, to request additional information or clarification from Proposers,
or to allow corrections of errors or omissions. At the discretion of the City of Moorpark,
firms submitting proposals may be requested to make oral presentations as part of the
evaluation process.
The City reserves the right to retain all proposals submitted and to use any idea(s) in a
proposal regardless of whether that proposal is selected. Submission of a proposal
indicates acceptance by the firm of the conditions contained in the request for proposals,
unless clearly and specifically noted in the proposal submitted and confirmed in the
contract between the City of Moorpark and the firm selected.
City of Moorpark
RFP for Pension and Other Post-Employment Benefits Actuarial Services
Page 2
It is anticipated the selection of a firm will be completed by the beginning of March, 2026.
Following the notification of the selected firm, a recommendation and proposed contract
will be prepared for consideration and approval by the City Council at its March 18, 2026
meeting. The City reserves the right to reject any or all proposals, to waive any non-
material irregularities or information in any proposal, and to accept or reject any items or
combination of items.
B. Term of Engagement
It is the intent of the City to contract for the services presented herein for a term of six (6)
years.
The proposal package shall present all inclusive actuarial fees for each year of the
contract term.
II. NATURE OF SERVICES REQUIRED
A. Scope of the Work to be Performed
The City of Moorpark is seeking proposals from qualified actuaries to provide actuarial
services for the City’s Other Post-Employment Benefits (OPEB) as required by GASB 75
and a report for information required by GASB 68.
GASB 75 establishes standards for recognizing and measuring net OPEB liabilities,
related deferred outflows of resources and deferred inflows of resources, and OPEB
expenses in the financial reports of the Commission. All requirements of GASB 75
including note disclosure and required supplementary information about the defined
benefit OPEB plan must be included in the actuarial reports.
The actuary must (at a minimum):
• Ensure compliance with GASB 75
• Prepare the next three actuarial valuations for:
o June 30, 2025 that will provide recommended contributions/plan funding
for fiscal years ended June 30, 2025 and June 30, 2026 for the City’s
audited Annual Comprehensive Financial Report (ACFR) fiscal years
ended June 30, 2026 and June 30, 2027
o June 30, 2027 that will provide recommended contributions/plan funding
for fiscal years ended June 30, 2027 and June 30, 2028 for the City’s
audited Annual Comprehensive Financial Report (ACFR) fiscal years
ended June 30, 2028 and June 30, 2029
o June 30, 2029 that will provide recommended contributions/plan funding
for fiscal years ended June 30, 2029 and June 30, 2030 for the City’s
audited Annual Comprehensive Financial Report (ACFR) fiscal years
ended June 30, 2030 and June 30, 2031
• Provide all documents and information (including the actuarial certification,
funding policy certification, and Excel valuation information spreadsheet)
required by CalPERS for agencies
• Meet with the City (and its auditors if necessary) to discuss and review the
report
• Assist in implementing any new GASB statement and other financial
pronouncements related to OPEB and providing ongoing professional
consultation
This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.
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