Statement of Work: The Florida Legislature’s Office of Program Policy Analysis and Government Accountability (OPPAGA) is requesting proposals from an independent enrolled actuary, as defined in Section 112.625(3), Florida Statutes, to assist OPPAGA in the determination of compliance of the Florida Retirement System with the provisions of the Florida Protection of Public Employee Retirement Benefits Act, Chapter 112, Part VII, Florida Statutes, as directed in Section 112.658, Florida Statutes. This work entails review of the actuarial valuation of the Florida Retirement System pension plan for Fiscal Years ending June 30, 2011 through June 30, 2013. Interested and qualified firms may submit a proposal to conduct this review annually for a contract period of three years.

The purpose of the actuarial analysis is to inform the Florida Legislature about whether the Department of Management Services’ consulting actuary conducted annual actuarial valuations of the Florida Retirement System pension plan using generally accepted and statutorily required standards, methods, and procedures; whether the valuation results were reasonable; and whether the plan continued to have sufficient assets to pay future benefits when due.

Proposals: Proposals must be submitted in accordance with the content set forth in the “Solicitation for Actuarial Services Annually for Three Years to Review the Valuation of the Florida Retirement System as of July 1, 2011; July 1, 2012; and July 1, 2013,” dated September 16, 2011. Copies of this document are available electronically from the contact persons.

Contact Persons: Ms. Debra Waters or Ms. Kim Gilley, Office of Program Policy Analysis and Government Accountability, 111 West Madison Street, Suite 312, Tallahassee, Florida 32399-1475; (850)487-0577 or (850)488-0021; email: waters.debra@oppaga.fl.gov and gilley.kim@oppaga.fl.gov.

Dates: All interested actuaries are required to submit a mandatory but non-binding letter of intent to propose, which must be received by OPPAGA no later than 3:30 p.m. (Eastern Time), Monday, September 26, 2011. OPPAGA will have further communications after that date only with those persons who indicate their initial intent to submit a proposal on this project. The closing date and time to receive proposals is 3:30 p.m. (Eastern Time), Tuesday, October 11, 2011. One of the contact persons must receive the written proposal prior to the closing date and time. Proposals that for any reason are not so received will not be considered. OPPAGA reserves the right to reject any and all proposals. Unless all proposals are rejected, it is anticipated the contract will be awarded in late October 2011.