ONEONTA CITY SCHOOL DISTRICT

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1 REQUEST FOR PROPOSAL ACTUARIAL SERVICES The Oneonta City School District, hereinafter referred to as the District, invites proposals from qualified individuals, actuarial firms, or BOCES hereinafter referred to as Actuary, to perform an actuarial review of the District s overall obligation for post-employment benefits in conformance with Government Accounting Standards Board (GASB) Statement No. 45 Accounting and Financial Reporting by Employers for Post Employment Benefits Other than Pensions. PROPOSAL SUBMISSION Proposals must be clearly labeled "ACTUARIAL SERVICES RFP" and submitted in a sealed envelope to Ms. Lisa Weeks, Business Manager, Oneonta City School District, 31 Center Street, Oneonta, NY on or before 2:00 PM prevailing time, on Wednesday, February 24, There is no expressed or implied obligation for the District to reimburse responding individuals or firms for any expenses incurred in preparing quotations or attending interview(s) in responding to this request. Proposals submitted after the stated time and date will not be considered and will be returned to the individual or firm unopened. PROPOSAL COMPONENTS A. All proposals must be submitted in two parts. Part I must consist of responses to the management and qualifications items. Part II must consist of complete contract cost and pricing information. Incomplete submissions will not be considered for award. Proposals should not be excessively long, and should be submitted in a format that permits copying for review. Only two copies of each proposal will be accepted, one copy titled "ORIGINAL" and the second titled "COPY." All materials submitted in response to this reque.st for quotation shall become the property of the District. B. Additionally, each proposal must include: SCOPE OF SERVICES l. Title page, including the name of the firm submitting, address, telephone and fax numbers and contact person(s) 2. Table of Contents 3. A listing of any additional information that you would need from the District in order to complete each analysis (other than what may have already been provided in this RFP by the District) A. The Actuary shall furnish all detailed reports for this valuation no later than six (6) weeks after the District has delivered complete data for the valuation to the consulting actuary. B. Assign sufficient staff to the engagement to complete the requested services and provide a final report within the timeframe noted in Section 3 paragraph 1.

2 C. Perform an actuarial valuation to determine the estimated annual expense to the District under GASB 45 guidelines. D. Determine the annual cost to the District to fund this liability. E. Provide the District with the necessary information and disclosure for the District's financial statements. F. Provide an actuarial report that includes at a minimum the following: 1. Description of the data used in the valuation, including age/service distribution tables 2. Detailed schedule outlining the calculation of the Annual Required Contribution (ARC) and annual OPEB expense 3. Actuarial present value of total benefits 4. Actuarial accrued liability and unfunded actuarial accrued liability 5. An estimate of the Net OPEB obligation at the end of the transition year 6. Summary and explanation of actuarial assumptions used in the analysis 7. Cash flow analysis detailing the projected pay-as-you-go-costs over the next ten years G. The Actuary shall also: 1. Be familiar with Government Accounting Standards Board Statement Number Have a strong background in related actuarial work, specifically employee health and welfare benefits. 3. Have at least three (3) years of experience in performing actuarial studies on organizations with a minimum of 250 full time employees. 4. Treat all information as confidential. MANAGEMENT AND QUALIFICATIONS A. In setting forth its qualifications, each individual or firm submitting a proposal shall: 1. Provide documentary evidence that the firm is legally authorized and licensed to do business in the State of New York. 2. Describe the individual's or firm's experience and expertise in performing actuarial consulting services for school districts and other governmental entities, including the number of years your firm has provided actuarial consulting services. 3. Describe your firm's familiarity with Governmental Accounting Standards and specifically Government Accounting Standards Board Statement Number 45, and its experience with post-employment benefit plans. 4. State the names and titles of the officers and associates in this firm. 5. Provide summary information regarding the professional experience and qualifications of supervising and support actuaries who shall perform work under the contract. 6. Identify the nature of any potential conflict of interest the firm might have in providing this or any other work for the District. 7. Include a list of references, preferably of other school districts or other governmental entities, for which you have performed the work requested in this RFP. 8. Provide any other information you believe would be beneficial to the District and indicators that the firm understands the work to be performed.

3 TERM OF CONTRACT ONEONTA CITY SCHOOL DISTRICT The contract period will be from July 1, 2016 through June 30, This contract shall have the option to renew from July 1st to June 30th of each subsequent year for up to five (5) years, at the rates provided, upon approval of the Board of Education for each year. COST This section shall include the proposed all-inclusive costs to provide the services requested. Fiscal Year Valuation Date Type of Valuation Cost ($) June 30, 2016 Interim June 30, 2017 Full June 30, 2018 Interim TERMINATION OF CONTRACT Any contract agreed to under this Request for Proposal is subject to termination by either party with thirty (30) days written notice. In the event of termination of the contract, the District's responsibility shall be to pay for unpaid services performed and authorized costs incurred by the Actuary. RIGHT TO REJECT REQUEST FOR PROPOSALS The District reserves the right to reject without prejudice any and all quotations received under this Request for Proposals, to request additional information from all proposers, and to negotiate with one or more of the finalists regarding the terms of the engagement. The District intends to select the individual or firm that, in its opinion, best meets the District's needs, and not necessarily the firm whose fees are the lowest. EVALUATION OF PROPOSALS Proposals received will be evaluated and scored by the District. Proposals shall be evaluated upon the following scale: Reasonableness of fee for services required Experience in providing the types of studies requested Management Qualifications Professionalism of proposal presentation Compliance with proposal submission requirements Up to 50 Points Up to 25 Points Up to 15 Points Up to 5 Points Up to 5 Points

4 SCHEDULE The following is an estimated timeline for receipt, evaluation and award of services under this RFP: February 24, 2016 February 25-March 2, 2016 March 3-15, 2016 March 23, 2016 RFP Responses Due to the District Evaluation of Responses by District Reference checks and interviews* Anticipated award of contract by Board of Education * Interviews may be conducted as deemed necessary by the District. DISTRICT RESPONSIBILITIES The District shall be responsible for furnishing the consulting actuary with such data or statistical information that may be necessary for the performance of the work as indicated in the proposal and which is available in the records and files of the District. DISTRICT INFORMATION The District provides health insurance coverage to retirees and contributes 100% of individual and 60-90% of family coverage of the total premium cost. The District offers coverage through Excellus Blue Cross Blue Shield. INDEMNIFICATION As of January 10, 2016 # of active employees in the District: 297 # of active employees receiving health benefits: 251 # of retirees receiving health benefits: includes 2 surviving spouses The successful Proposer shall defend, indemnify and save harmless the District, its employees and agents, from and against all claims, damages, losses and expenses (including without limitations, reasonable attorneys' fees) arising out of, or in consequence of, any negligent or intentional act or omission of the successful Proposer, its employees, or agents, to the extent of its or their responsibility for such claims, damages, losses and expenses. LEGAL CONSTRUCTION In case any one or more of the provisions contained in this agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not effect any other provision thereof and this agreement shall be construed as if such invalid, illegal or unenforceable provision has never been contained therein. QUESTIONS AND ADDITIONAL INFORMATION Questions and requests for any additional information that may be needed by a potential Proposer in order to provide a response to this RFP may be addressed to Ms. Lisa Weeks, Business Manager, Oneonta City School District, 31 Center Street, Oneonta, NY Responding firms or individuals may also obtain information by calling , ext 302 or ing lweeks@oneontacsd.org.

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