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CT Paid Leave Authority review committee to interview actuary finalists; board will receive recommendation in April
Summary
The Finance Committee heard an update on the authority's three‑year actuary RFP: proposals were received, interviews are scheduled, and a recommendation will be presented to the board at its April meeting for contract negotiation.
The Connecticut Paid Leave Authority Finance Committee received an update on the authority’s request for proposals (RFP) for actuarial services, which the authority is required to refresh every three years.
Staff reported that the RFP was issued in February, that potential proposers submitted questions (which were posted publicly), and that proposals were due March 6. A review committee evaluated the submissions and scheduled interviews with finalists for the following week. "After those meetings, the review committee will finalize their scoring of the potential candidates and present a recommendation to the board in an executive session," a staff member said.
Committee members were told that, assuming the board approves the committee’s recommendation at its April meeting, contract negotiations with the selected actuarial firm would follow. Staff indicated the goal is to present the recommendation to the board on April 10. No final selection or contract terms were announced at the Finance Committee meeting.
A committee member asked for the timeline for finishing the review process; staff replied that the review committee expects to present its recommendation to the board at the April board meeting, which is scheduled for April 10.
The Finance Committee did not take a final vote on the actuary selection at the meeting; the next steps described were interviews, scoring completion, an executive-session presentation to the board and contract negotiations if the board approves the recommendation.
