Actuarial Valuation Services - Statement 75
ID: 2131386 • State: New York
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Description
Background
The City University of New York (CUNY) is seeking an actuarial firm to provide annual actuarial services related to retiree health care benefits in compliance with Government Accounting Standards Board, Statement 75 (GASB 75).
The goal of this contract is to ensure accurate valuation and reporting of CUNY's Other Post-Employment Benefits (OPEB) costs, which are essential for financial statement disclosures.
Work Details
The contractor will conduct an actuarial valuation of CUNY retiree health care benefits as of June 30 each fiscal year.
This includes delivering a comprehensive report detailing the Annual Other Post-Employment Benefits Cost (AOC) and additional information required under GASB 75.
The report must compare current valuations with prior years and include specific items such as the actuarial present value of total projected benefits, actuarial accrued liability, unfunded actuarial accrued liability, normal cost, and annual OPEB cost.
The contractor will also respond to inquiries from auditors and other authorities regarding the valuation.
Furthermore, the contractor may be required to perform an experience study during the contract term and provide additional actuarial-related services as needed.
Period of Performance
The contract term is five years, commencing upon approval by the Attorney General and the New York State Comptroller.
The fiscal year for CUNY runs from July 1 to June 30, necessitating timely completion of services for each fiscal year.
Place of Performance
Services will primarily be performed at the contractor's business location; however, collaboration with CUNY staff may require virtual meetings or document reviews.
Bidder Requirements
Proposers must have a credentialed actuary with at least five years of experience in Health and Benefit System valuations.
They must also be members of the Society of Actuaries and comply with all professional development requirements.
Additionally, proposers are encouraged to meet diversity participation goals: a minimum of 30% participation from Minority-Owned Business Enterprises (MBE) and Women-Owned Business Enterprises (WBE), along with a 6% participation goal for Service-Disabled Veteran-Owned Businesses (SDVOB).
Proposers must submit various forms including a Supplier Diversity Utilization Plan.
The City University of New York (CUNY) is seeking an actuarial firm to provide annual actuarial services related to retiree health care benefits in compliance with Government Accounting Standards Board, Statement 75 (GASB 75).
The goal of this contract is to ensure accurate valuation and reporting of CUNY's Other Post-Employment Benefits (OPEB) costs, which are essential for financial statement disclosures.
Work Details
The contractor will conduct an actuarial valuation of CUNY retiree health care benefits as of June 30 each fiscal year.
This includes delivering a comprehensive report detailing the Annual Other Post-Employment Benefits Cost (AOC) and additional information required under GASB 75.
The report must compare current valuations with prior years and include specific items such as the actuarial present value of total projected benefits, actuarial accrued liability, unfunded actuarial accrued liability, normal cost, and annual OPEB cost.
The contractor will also respond to inquiries from auditors and other authorities regarding the valuation.
Furthermore, the contractor may be required to perform an experience study during the contract term and provide additional actuarial-related services as needed.
Period of Performance
The contract term is five years, commencing upon approval by the Attorney General and the New York State Comptroller.
The fiscal year for CUNY runs from July 1 to June 30, necessitating timely completion of services for each fiscal year.
Place of Performance
Services will primarily be performed at the contractor's business location; however, collaboration with CUNY staff may require virtual meetings or document reviews.
Bidder Requirements
Proposers must have a credentialed actuary with at least five years of experience in Health and Benefit System valuations.
They must also be members of the Society of Actuaries and comply with all professional development requirements.
Additionally, proposers are encouraged to meet diversity participation goals: a minimum of 30% participation from Minority-Owned Business Enterprises (MBE) and Women-Owned Business Enterprises (WBE), along with a 6% participation goal for Service-Disabled Veteran-Owned Businesses (SDVOB).
Proposers must submit various forms including a Supplier Diversity Utilization Plan.
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Overview
Opportunity Type
General
Opportunity ID
2131386
Response Deadline
March 5, 2026
Due in 0 Days
Date Posted
Feb. 5, 2026
Est. Value Range
Experimental
$50,000 - $200,000
(AI estimate)
Agency Distribution
High
Source
Source Notes
Must be signed in to the New York Contract Reporter to view the opportunity.
On 2/5/26 City University of New York (CUNY) in New York issued General Actuarial Valuation Services - Statement 75 with ID 2131386 due 3/5/26.
Contacts
Documents
Posted documents for Actuarial Valuation Services - Statement 75
Classifications
Opportunity Classification
Financial - Consulting & Other Services