Actuarial Services

Sacramento Housing & Redevelopment Agency (SHRA) seeks actuarial services to support the ongoing measurement, funding, and financial reporting of its Other Post-Employment Benefits (OPEB) program. The project is centered on helping SHRA maintain a disciplined, sustainable approach to retiree healthcare obligations while producing clear, defensible actuarial information for both funding and accounting purposes. SHRA has historically prefunded its OPEB obligations through the California Employers’ Retiree Benefit Trust (CERBT) and has consistently contributed at or above the actuarially determined contribution, reflecting a strong commitment to long-term sustainability and sound fiscal management.

The selected vendor will be expected to provide actuarial valuation and advisory services that support several interconnected objectives: development of actuarially determined contributions, preparation of GASB 75 reporting, analysis of funded status and long-term liability trends, and evaluation of the Agency’s prefunding strategy.

The work is expected to require technical rigor, responsiveness, and the ability to communicate complex actuarial concepts to management and stakeholders in a practical way. SHRA values a partner who can do more than deliver compliant reports: the Agency is looking for actuarial expertise that can help leadership understand emerging risks, evaluate funding options, explain key drivers of change, and support informed decision-making over time. This engagement should be attractive to high-quality vendors with public-sector OPEB experience, particularly those who can combine strong actuarial credentials with thoughtful strategic advice, reliable project execution, and clear presentation of results.

SHRA sponsors an Other Post-Employment Benefits (OPEB) program for eligible retirees that includes retiree medical and dental benefits. In connection with these benefits, SHRA requires ongoing actuarial services to measure liabilities, support funding decisions, and provide information necessary for financial reporting and long-term planning. The Agency’s OPEB program includes both explicit employer-paid subsidies and implicit subsidy liabilities associated with blended active and retiree healthcare premiums, requiring specialized actuarial analysis and periodic review.

SHRA has historically taken a proactive approach to OPEB funding and administration. The Agency participates in the California Employers’ Retiree Benefit Trust (CERBT) and has used actuarial valuations to establish contribution levels and evaluate the funded status of the plan. Recent actuarial reports have supported development of Actuarially Determined Contributions (ADCs), measurement of total OPEB liability, and preparation of GASB 75 financial reporting disclosures. These services have been an important part of SHRA’s broader effort to manage retiree benefit obligations in a fiscally responsible and sustainable manner.

SHRA’s OPEB program contains multiple plan design features that require careful actuarial evaluation. The Agency maintains different contribution structures for employees based on hire date, including a medical allowance structure for certain retirees and a PEMHCA vesting-based subsidy structure for others. The actuarial work therefore requires not only technical valuation expertise, but also a clear understanding of public-sector retiree healthcare programs, applicable accounting standards, demographic and healthcare trend assumptions, and the funding implications of plan design and experience changes over time.

Through this solicitation, SHRA seeks to retain a qualified actuarial services firm with demonstrated experience in public-sector OPEB valuations, funding analysis, and GASB 75 reporting. The Agency is interested in obtaining professional services that are accurate, timely, and clearly communicated, and that will support SHRA in continuing its prudent management of retiree healthcare obligations.