The City of Minot is seeking proposals for professional actuarial services for pension and other postemployment benefits (OPEB) reporting. The contract will be for two years with three one-year renewal options. Services include annual GASB 67/68 and GASB 74/75 reporting, an experience study every five years, and assistance with audits. Proposals must be submitted by 4:00 PM CST on May 29, 2026, including five bound copies and an emailed version. The selection process includes evaluation of technical qualifications and price. Oral presentations may be requested. The anticipated vendor selection is June 12, 2026, with contract approval by City Council on July 6, 2026.
The proposal must be received no later than 4:00 PM on Friday, May 29, 2026. The proposal must be received no later than 4:00 pm on friday may 29, 2026.
Compensation for actuarial consulting services will be paid on a fixed schedule not to exceed cost after the services have been completed. Compensation for actuarial consulting services listed in the proposal shall be paid on a fixed schedule not to exceed cost after the services have been completed.
The proposer warrants that it can and will provide all services set forth in the proposal, does not have any conflicts of interest, will perform in accordance with generally accepted industry standards, carries adequate insurance, and all information provided is true and accurate. The proposer certifies it can and will provide, as a minimum, all services set forth in the proposal. Proposer warrants that it does not have any conflicts of interest with the city of minot, its management staff, or its elected officials. Proposer warrants that it will perform within accordance with generally accepted industry standards. Proposer warrants that it carries adequate liability, workers compensation, and other necessary insurance and shall maintain such insurance during the term of the agreement. Proposer warrants that all information provided by it in connection with this proposal is true and accurate.
Proposals will be evaluated using three sets of criteria: mandatory elements (20%), technical qualifications (45%), and price consideration (35%). Proposals will be evaluated using three sets of criteria. Vendors meeting the mandatory criteria will have their proposals evaluated and scored for both technical qualifications and price. The following represent the principal selection criteria that will be considered during the evaluation process as well as the percentage points applicable to those criteria: 1. Mandatory elements 20 a. The vendor has no conflict of interest regarding any other work performed by the vendor for the city. b. The vendor adheres to the instructions in this request for proposal on preparing and submitting the proposal. 2. Technical qualifications 45 a. Expertise and experience i. The vendor exhibits expertise based on experience and performance on comparable government engagements. ii. The quality of the vendors professional personnel to be assigned to the engagement and the quality of the vendors management support personnel to be available for technical consultation. iii. The availabilityresponsiveness of staff, as derived from the written proposal. b. Specific approach i. Adequacy of proposed staffing plan for various segments of the engagement ii. Adequacy of internal quality control to ensure accuracy of reports iii. Ability to meet desired timing of engagement and scheduled deadlines 3. Price consideration 35
The proposal should demonstrate the qualifications, competence, and capacity of the vendors seeking to undertake actuarial services, including vendor qualifications and experience, description of personnel, similar engagements with other government entities, specific approach, identification of anticipated potential problems, and timeline. The purpose of the proposal is to demonstrate the qualifications, competence, and capacity of the vendors seeking to undertake actuarial services for the city in conformity with the requirements of this request for proposals. As such, the substance of proposals will carry more weight than their form or manner of presentation. The proposal should demonstrate the qualifications of the vendor and of the staff to be assigned to the engagement. It should also specify an actuarial approach that will meet the request for proposals requirement. The proposal should address all the points outlined in the request for proposal. The proposal should be prepared simply and economically, providing a straightforward, concise description of the proposers capabilities to satisfy the requirements of the request for proposal. While additional data may be presented, the following subjects, items 2 through 7, must be included. They represent the criteria upon which the proposal will be evaluated. 2. Vendor qualifications and experience 3. Description of personnel 4. Similar engagements with other government entities 5. Specific approach 6. Identification of anticipated potential problems 7. Timeline
Written questions on the RFP will be accepted until Wednesday, May 20, 2026, at 4:00 PM. Written questions on the rfp will be accepted until wednesday may 20, 2026, at 4: 00 pm to allow time for staff to respond in writing to all holders of this rfp.