Actuarial Services

Location:	Pennsylvania
Posted:	Jan 7, 2026
Due:	Feb 2, 2026
Agency:	State Government of Pennsylvania
Type of Government:	State & Local
Category:	R - Professional, Administrative and Management Support Services
Solicitation No:	RFP2025-04
Publication URL:	To access bid details, please log in.

General Information

Department for this solicitation:

Procurement

Date Prepared:

12/17/25

Types:

RFP

Advertisement Type:

Service

Materials

Service & Materials

PW Construction

Agency Construction

Real Estate

Solicitation/Project#:

RFP2025-04

Solicitation/Project Title:

Actuarial Services

Description:

This RFP provides interested Offerors with sufficient information to enable them to prepare and submit proposals for consideration by PSERS to satisfy a need to provide complete Actuarial Services.? This includes but is not limited to valuation services, stress testing, experience study services and consulting and advisory services.

Department Information
Department/Agency:	Public School Employees' Retirement System	Delivery Location:	Public School Employees Retirement System Attn Boa Procurement Division Rfp 2025 04 5 North 5Th Street Rm117 1 Harrisburg Pa 17101
County:	Statewide	Duration:	5 years

Contact Information
First Name:	William	Last Name:	Spiker
Phone Number: (XXX-XXX-XXXX)	717-720-4824	Email:	ra-psprocurement@pa.gov

Solicitation Information
Bids must be received by the purchasing agency on the Solicitation Due Date no later than the Solicitation Due Time as set forth in the solicitation. Any conflict between the dates and/or times contained in the solicitation itself or its attachments and this advertisement shall be resolved in favor of the solicitation.
Solicitation Start Date:	01/07/26
Solicitation Due Date:	02/02/26	Solicitation Due Time:	2:00 PM
Solicitation Opening Date:	02/02/26	Solicitation Opening Time:	2:30 PM
Opening Location:	5 N 5Th St Harrisburg Pa 17101 Not A Public Opening
No. of Addendums:	0

Amended Date:	01/07/26

Related Solicitation Files

Original Files

	RFP 2025-4 Actuarial Services - Final.pdf
	PART VI Sample Contract.pdf
	Appendix A Proposal Cover Letter.pdf
	Appendix B BOP-1301_DomesticWorkforceUtilizationCertification_ServicesRFP.pdf
	Appendix C IranFreeProcurementCertificationForm.pdf
	Appendix D TradeSecret_ConfidentialPropertyInfoNotice.pdf
	Appendix E BOP-2201 EO 2021-06 Worker Protection Form.pdf
	Appendix F Cost Submittal.xlsx
	Appendix G SDB and VBE Participation Summary Sheet.pdf
	Appendix H Supplies_Services_SDB_Participation_Form_20240126.pdf
	Appendix I Supplies_Services_VBE_Participation_Form_20240126.pdf
	Appendix J Model Form SDB VBE Subcontract Agreement.pdf
	Appendix K Political Contribution Form.pdf

Attachment Preview

REQUEST FOR PROPOSALS

FOR

Actuarial Services

ISSUING OFFICE

Commonwealth of Pennsylvania

Public School Employees’ Retirement System (PSERS)

RFP NUMBER

PSERS RFP# 2025-04

DATE OF ISSUANCE

January 7, 2026

Small Diverse Businesses (SDB) and Veteran Business Enterprises (VBE) are encouraged to

respond to this solicitation. If you haven’t verified as an SDB or VBE within Pennsylvania, you

may miss out on contracting opportunities designed to increase the Commonwealth’s spending

with SDBs and VBEs. These opportunities will be available for goods, services, information

technology services and products, as well as design, engineering and construction contracts.

To review SDB and VBE program eligibility and for more information on seeking certification,

please visit www.dgs.pa.gov and follow the links to “Small Diverse Business Program” or “Small

Business Contracting Program” located under the “Businesses” heading. Direct customer

assistance is also available from staff within the Bureau of Diversity, Inclusion, and Small Business

Opportunities (BDISBO) by calling 717-783-3119 or via email at gs-bdisbo@pa.gov.

REQUEST FOR PROPOSALS

FOR

Actuarial Services

PSERS RFP# 2025-04

TABLE OF CONTENTS

CALENDAR OF EVENTS ............................................................................................................ i

PART I

GENERAL INFORMATION ................................................................................. 1

PART II

CRITERIA FOR SELECTION .............................................................................. 13

PART III

TECHNICAL SUBMITTAL ................................................................................. 17

PART IV

COST SUBMITTAL .......................................................................................... 31

PART V

SMALL DIVERSE BUSINESS AND VETERAN BUSINESS ENTERPRISE

PARTICIPATION INFORMATION ..................................................................... 32

PART VI

SAMPLE CONTRACT FOR ACTUARIAL PENSION AND PLAN CONSULTING

SERVICES ...................................................................................................... 37

EXHIBIT A – DESCRIPTION OF SERVICES AND PERSONNEL

EXHIBIT B – SEC FORM ADV, PARTS 2A AND 2B [PLACEHOLDER]

EXHIBIT C – ACTUARY COMPENSATION

EXHIBIT D – STANDARD CONTRACT TERMS AND CONDITIONS – PAPER

CONTRACT

EXHIBIT E – DATA AND INFORMATION SECURITY ADDENDUM

EXHIBIT F – PSERS REQUEST FOR PROPOSAL [PLACEHOLDER]

EXHIBIT G – ACTUARY’S PROPOSAL [PLACEHOLDER]

APPENDIX A

APPENDIX B

APPENDIX C

APPENDIX D

APPENDIX E

APPENDICES

PROPOSAL COVER SHEET

DOMESTIC WORKFORCE UTILIZATION CERTIFICATION

IRAN FREE PROCUREMENT CERTIFICATION

TRADE SECRET CONFIDENTIAL PROPRIETARY INFORMATION NOTICE FORM

WORKER PROTECTION AND INVESTMENT CERTIFICATION FORM

APPENDIX F

APPENDIX G

APPENDIX H

APPENDIX I

APPENDIX J

APPENDIX K

COST SUBMITTAL WORKSHEET

SMALL DIVERSE BUSINESS AND VETERAN BUSINESS ENTERPRISE SUMMARY

SHEET

SMALL DIVERSE BUSINESS PARTICIPATION PACKET:

SDB-1

INSTRUCTIONS FOR COMPLETING SDB PARTICIPATION

SUBMITTAL AND SDB UTILIZATION SCHEDULE

SDB-2 SDB PARTICIPATION SUBMITTAL

SDB-3 SDB UTILIZATION SCHEDULE

SDB-3.1 SDB LETTER OF COMMITMENT

SDB-4

GUIDANCE FOR DOCUMENTING GOOD FAITH EFFORTS TO MEET

THE SDB PARTICIPATION GOAL

SDB-5

GOOD FAITH EFFORTS DOCUMENTATION TO SUPPORT WAIVER

REQUEST OF SDB PARTICIPATION GOAL

VETERAN BUSINESS ENTERPRISE PARTICIPATION PACKET:

VBE-1

INSTRUCTIONS FOR COMPLETING VBE PARTICIPATION

SUBMITTAL AND VBE UTILIZATION SCHEDULE

VBE-2 VBE PARTICIPATION SUBMITTAL

VBE-3 VBE UTILIZATION SCHEDULE

VBE-3.1 VBE LETTER OF COMMITMENT

VBE-4

GUIDANCE FOR DOCUMENTING GOOD FAITH EFFORTS TO MEET

THE VBE PARTICIPATION GOAL

VBE-5

GOOD FAITH EFFORTS DOCUMENTATION TO SUPPORT WAIVER

REQUEST OF VBE PARTICIPATION GOAL

MODEL FORM OF SMALL DIVERSE BUSINESS/VETERAN BUSINESS

ENTERPRISE SUBCONTRACTOR AGREEMENT

POLITICAL CONTRIBUTION FORM

CALENDAR OF EVENTS

PSERS will make every effort to adhere to the following schedule:

Activity

Deadline to RSVP to the SDB and VBE Goal Information Session via

email the Issuing Office at RA-psprocurement@pa.gov

SDB and VBE Goal Setting Information Session (See PART I, Section

I-8 for online meeting information.)

Deadline to submit questions via email to the Issuing Office at

RA-psprocurement@pa.gov

Answers to Potential Offeror questions will be posted on

eMarketplace no later than this date.

http://www.emarketplace.state.pa.us/Search.aspx

Monitor eMarketplace website for all communications regarding the

RFP.

Sealed proposal must be received by the Issuing Office at:

Public School Employees’ Retirement System

ATTN: BOA/Procurement Division RFP 2025-04

5 North 5th Street, Rm117-1

Harrisburg, PA 17101

Responsibility

Potential Offerors

BDISBO/Potential

Offerors

Potential Offerors

Date

Monday,

January 12, 2026

4:00 PM ET

Tuesday,

January 13, 2026

1:00 PM ET

Friday,

January 16, 2026

5:00 PM ET

Issuing Office

Wednesday,

January 21, 2026,

5:00 PM ET

Potential Offerors

Ongoing

Offerors

Monday,

February 2, 2026,

2:00 PM ET

Finalist presentations if necessary. Offerors should be available to Selected Offerors

TBD

present in person if requested.

PART I

GENERAL INFORMATION

I-1. Purpose. This request for proposals (RFP) provides to those interested in submitting

proposals for the subject procurement (“Offerors”) sufficient information to enable them to

prepare and submit proposals for the Public School Employees’ Retirement System’s

(“PSERS”) consideration on behalf of the Commonwealth of Pennsylvania (“Commonwealth”)

to satisfy a need for Actuarial Services (“Project”). This RFP contains instructions governing

the requested proposals, including the requirements for the information and material to be

included; a description of the service to be provided; requirements which Offerors must meet

to be eligible for consideration; general evaluation criteria; and other requirements specific

to this RFP.

I-2. Issuing Office. PSERS, Bureau of Administration (BOA), Purchasing Division (“Issuing Office”)

has issued this RFP on behalf of the Commonwealth. Its staff shall act as Issuing Officers. The

sole point of contact in PSERS for this RFP shall be the Issuing Office and can be contacted at:

Public School Employees’ Retirement System

ATTN: BOA/Procurement Division RFP#2025-04

5 North 5th Street, Rm117-1

Harrisburg, PA 17101

Email: RA-psprocurement@pa.gov

I-3. Background. PSERS is one of the oldest pension systems in the United States. Established

in 1917, PSERS began operations in 1919 to serve the public school employees of the

Commonwealth. PSERS administers a governmental, cost-sharing, multiple-employer

pension plan to which public school employers, the Commonwealth and school employees

(Members) contribute. PSERS was created by statute through the Public School Employees’

Retirement Code (Retirement Code) and administers a traditional defined benefit plan that

operates as a “qualified plan” under Section 401(a) of the Internal Revenue Service Code of

1986, as amended(Defined Benefits or DB Plan;). Upon the passage of Act 5 of 2017, effective

July 1, 2019 (Act 5), PSERS was expanded to include the School Employees’ Defined

Contribution Plan and Trust, a separate qualified defined contribution plan under Section

401(a) (Defined Contribution or DC Plan). Eligible school employees hired on or after this

date, have the option to elect one of two membership classes that participate in the DB Plan

and DC Plan or a membership class that participates only in the DC Plan. PSERS is required to

hire an actuary to conduct an actuarial investigation and experience study of PSERS based on

data, including the mortality, service, and compensation experience, during the preceding

five years concerning Members, annuitants and beneficiaries. The experience study to be

performed for this RFP will be for the period July 1, 2025, through June 30, 2030. Current

actuarial assumptions are included in the most recent actuarial valuation for PSERS. PSERS is

also required by the Retirement Code to conduct an annual stress test, which must include a

scenario analysis, simulation analysis and sensitivity analysis to assist the Public School

This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

Daily notification on new contract opportunities

With GovernmentContracts, you can:

Find more opportunities and win more business
Receive daily alerts for all new bid opportunities
Get contract opportunities matched to your business

ONE WEEK FREE TRIAL

Actuarial Services

Attachment Preview

See also