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CT Paid Leave Authority outlines Feb–Apr timeline to reprocure actuarial services
Summary
Staff said the authority must issue a new actuarial RFP this spring under Connecticut statute and proposed a Feb. 5 publication, a Mar. 6 proposal deadline, vendor interviews mid-March, and a Mar. 28 finance-committee recommendation to the board.
Dave, the finance presenter, told the committee the authority must reprocure actuarial services approximately every three years and outlined a proposed timeline for the RFP process.
He said staff plans to publish the RFP around Feb. 5; allow written questions through Feb. 17 with answers by Feb. 24; set a proposal deadline of Mar. 6; conduct vendor interviews Mar. 17–21; have a review committee score proposals on Mar. 24; and recommend a vendor to the finance committee at its Mar. 28 meeting. If the finance committee approves the recommendation, staff will present the selection to the board and negotiate a contract with the chosen vendor.
Dave referenced the procurement requirement in the Connecticut General Statutes (as cited during the meeting) as the reason the Authority is conducting the competitive process. Committee members acknowledged the timeline; no substantive objections or alternative schedules were raised during the meeting.
Next steps: staff will publish the RFP and follow the timeline described; the finance committee expects to receive the review committee's recommendation on Mar. 28, after which the board will consider final vendor approval and contract negotiations.
