Statewide Actuarial Services

State of Arkansas Department of Transformation and Shared Services

Buyer seeks to establish statewide contracts for actuarial services across six categories: Life Insurance, Health Insurance, Pension, Property and Casualty, Enterprise Risk Management, and Investment and Finance. The contracts will be available to Arkansas state agencies, K-12 educational institutions, and local public procurement units. Buyer aims to obtain levelized rates for actuarial services and leverage statewide buying power to secure competitive pricing while maximizing value for state entities. Multiple contractors may be awarded with a contract term of three years plus potential extensions.

• 6/13/2025 - RFP Release
• 6/22/2025 - Deadline for Questions
• 6/27/2025 - Answers to Questions Posted
• 7/14/2025 - Proposal Due Date
• 7/31/2025 - Initial Proposal Evaluation
• 8/19/2025 - Interviews
• 10/15/2025 - Anticipated Contract Start Date

• Key personnel must have 5 years experience as actuary of record for public entity
• Key personnel must have 10 years experience within category of actuarial service
• Must be authorized to do business in Arkansas
• Must hold industry certifications for all key personnel providing actuarial work

• Provide actuarial analytics and methodologies for valuation and risk forecasting
• Conduct evaluations of plan assets and liabilities with forecasted projections
• Perform actuarial audits according to GFOA best practices
• Translate complex data into actionable plans
• Provide virtual and on-site consulting services
• Support reviews of actuarial filings during examinations or audits
• Provide expert testimony in hearings or court proceedings
• Maintain data privacy and confidentiality
• Assess risks and predict future costs for insurance programs
• Develop strategic plans to mitigate identified risks