Actuarial services for OPEB program valuation and reporting

Solicitation #2611-KP. Issued by Finance. Sacramento Housing & Redevelopment Agency (SHRA) seeks actuarial services to support the ongoing measurement, funding, and financial reporting of its Other Post-Employment Benefits (OPEB) program. The project is centered on helping SHRA maintain a disciplined, sustainable approach to retiree healthcare obligations while producing clear, defensible actuarial information for both funding and accounting purposes. SHRA has historically prefunded its OPEB obligations through the California Employers’ Retiree Benefit Trust (CERBT) and has consistently contributed at or above the actuarially determined contribution, reflecting a strong commitment to long-term sustainability and sound fiscal management. The selected vendor will be expected to provide actuarial valuation and advisory services that support several interconnected objectives: development of actuarially determined contributions, preparation of GASB 75 reporting, analysis of funded status and long-term liability trends, and evaluation of the Agency’s prefunding strategy. The work is expected to require technical rigor, responsiveness, and the ability to communicate complex actuarial concepts to management and stakeholders in a practical way. SHRA values a partner who can do more than deliver compliant reports: the Agency is looking for actuarial expertise that can help leadership understand emerging risks, evaluate funding options, explain key drivers of change, and support informed decision-making over time. This engagement should be attractive to high-quality vendors with public-sector OPEB experience, particularly those who can combine strong actuarial credentials with thoughtful strategic advice, reliable project execution, and clear presentation of results.