The Suburban Mobility Authority for Regional Transportation (SMART) is seeking proposals for OPEB Actuarial Services. The contract will be for three years with two one-year options. Services include annual OPEB valuations compliant with GASB statements 74/75, biannual reports for employer ADC, and other actuarial support. Proposals are due by May 28, 2026, at 3:00 PM ET. Electronic submission is required via BidNet Direct or email. Key evaluation criteria include qualifications and experience, actuary certifications, transition plan, and price. Mandatory qualifications for firms and managing actuaries are outlined. Protests must be filed with the General Manager within specific timeframes. The contract includes standard provisions for payment, termination, indemnification, and records retention. A warranty of one year is required for all furnished materials, goods, services, and equipment.
The proposal due date is May 28, 2026, at 3:00 PM Eastern Time.
Invoices must be submitted electronically to ***@***. *. * for payment. Contractor shall pay all subcontractors within thirty 30 days of receipt of a proper invoice. For progress payment contracts, 90 percent of the amount earned will be paid, with 10 percent retained.
The offeror warrants that all materials, goods, services, and equipment furnished under the contract will be new, of good quality, free from defects, and in conformance with the contract documents for a period of one 1 year from the date they are furnished and accepted by SMART.
Proposals will be evaluated based on qualifications and experience with GASB 75 reporting and advisory services (25 points), experience and professional certifications of actuaries assigned to the project (25 points), transition or onboarding plan (25 points), and price (25 points).
SMART requires all prospective providers to have strong credentials, be in good financial standing, and the managing actuary must be an associate of the Society of Actuaries and hold one of the following: Fellow of the Society of Actuaries, Fellow of the Conference of Consulting Actuaries, or Fellow in a similar society or academy. An actuary who is a member of the American Academy of Actuaries (MAAA) or has a similar credential is requested but not required.
A preproposal conference will not be held, and a site visit is not applicable.
Sample submission is not identified as a requirement in the provided text.
Protests addressing the adequacy of the solicitation process and all solicitation documents must be received by the General Manager no later than five 5 business days before the proposal due date. Notice of protest of the award of a solicitation must be received by the General Manager no more than five 5 business days after the SMART board of directors has authorized the General Manager to award a contract.
Any alleged breach of offeror communications rules may result in the rejection of the breaching offeror's proposal. Failure to acknowledge all addenda may result in rejection. Failure to conform to proposal content and packaging requirements may result in rejection. Deviations found ambiguous, unfavorable, or unacceptable may result in lowered scoring or rejection.