Subcommittee recommends PTA/KMS/Bolton for PERS actuarial audit; Chiron noted as lower-cost but less aligned with RFP

A Retirement Study Council subcommittee voted to favorably recommend the PTA/KMS/Bolton proposal for the forthcoming PERS actuarial audit to the full council.

ORSC staff told the panel that four firms responded to the request for proposals and that staff had checked references for all four. Two submissions — from PTA/KMS/Bolton and from Chiron — were judged substantially stronger than the others. Staff reported a not-to-exceed price of about $115,400 for Chiron and about $129,000 for PTA/KMS/Bolton, and said PTA/KMS/Bolton’s methodology, product and timeline closely matched the RFP while Chiron’s proposal was “somewhat difficult to decipher.”

"With that, I would be happy to answer any questions," the chair said before moving the recommendation: "I move we favorably recommend the PTA KMS Bolton proposal to the full council." An unidentified participant seconded the motion. The chair then called for a roll call; the chair and Representative Plummer were recorded voting yes, and the motion was declared to carry. Mister Shearer had been excused earlier in the meeting.

The subcommittee’s action is a recommendation only; the full Retirement Study Council will make the final selection and any contract award. The chair noted that ORSC staff had completed reference checks as part of due diligence and that the recommended vendor’s proposed work plan aligned with the RFP’s requirements.

The record does not contain a full roll-call tally for all members on the motion beyond the affirmative votes recorded and the previously noted excused member. The matter will be placed on the full council agenda for final consideration and potential contract approval.