Title
Actuarial Services for MERP, LTD and Sick Leave Benefits Contract - RFP PS-24-0310 - Request for Award (Ordinance S-51573) - District 7
Description
Request to authorize the City Manager, or his designee, to enter into a contract with Gabriel, Roeder, Smith & Company to provide actuarial services for the Medical Expense Reimbursement Plan (MERP), Long Term Disability (LTD), and Compensated Absence Benefits for the City of Phoenix Finance Department. Further request to authorize the City Controller to disburse all funds related to this item. The total value of the contract will not exceed $211,200.
Report
Summary
This contract will provide the City of Phoenix Finance Department with external actuarial expertise for the MERP, LTD, and Compensated Absence Benefits, in compliance with U.S. governmental accounting standards. Actuarial valuation reports will be generated to present the findings of the MERP, LTD, and Sick Leave Benefits valuations for the City of Phoenix for the relevant Fiscal Year.
Procurement Information
A Request for Proposal procurement was processed in accordance with City of Phoenix Administrative Regulation 3.10.
Two vendors submitted proposals deemed responsive and responsible. An evaluation committee of City staff evaluated those offers based on the following criteria with a maximum possible point total of 1,000:
Qualifications and Experience (0-200 points)
Method of Approach (0-300 points)
Capacity (0-300 points)
Pricing (0-200 points)
After reaching consensus, the evaluation committee recommends award to the following vendor:
- Gabriel, Roeder, Smith & Company, with 861.25 points.
Contract Term
The contract will begin on or about February 3, 2025, for a five-year term with no options to extend.
Financial Impact
The aggregate contract value will not exceed $211,200.
Funding is available in the Finance Department's budget.
Department
Responsible Department
This item is submitted by City Manager Jeffrey Barton and the Finance Department.