Project Information

Bid Title

Request for Proposal (RFP) for Actuarial Services

Issuing Agency

City of San Carlos

Location

California

Published Date

Feb 25, 2026

Closing Date

Mar 13, 2026

Government Level

State & Local

Status

Closed

Original Source

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Project Description

Department: Administrative Services Department
Division: Finance Division
Category: Request for Proposals – Actuarial Services
Issue Date: Tuesday, February 24, 2026
Close Date: Friday, March 13, 2026, 2:00 p.m., PDT
Question Cut-Off Date: Friday, March 6, 2026, 5:00 p.m., PDT
Questions and answers to be posted:  Tuesday, March 10, 2026, 5:00 p.m., PDT

The City of San Carlos is inviting qualified Actuarial Services vendors to submit proposals.

Interested vendors are encouraged to review the full Request for Proposals (RFP) and submission guidelines.

For any inquiries related to this RFP, please contact:
Paul Harris, Finance Manager
finance@cityofsancarlos.org

Request for Proposal: Actuarial Services

Attachment Preview

Request for Proposal (RFP) for

Actuarial Services

Date: February 24, 2026

Department: Administrative Services

Division: Finance Division

Proposal Due Date: March 13, 2026, Time: 2:00 P.M.

Proposals must be submitted along with any relevant attachments in PDF format by email with a

subject line: “RFP- Actuarial Services” to:

Finance Division Email:

finance@cityofsancarlos.org

========================================================================

Proposal Information - Format

Proposals will be received by the City of San Carlos, hereinafter called the "City", by email until

2:00 P.M., Pacific Time March 13, 2026.

Questions regarding the Request for Proposal should be submitted in writing by email with the

RFP title in the subject heading:

Paul Harris

Finance Manager

Email: finance@cityofsancarlos.org

City of San Carlos

Actuarial Services RFP

1.0 Introduction

1.1 Proposed Solicitation

The City of San Carlos, hereinafter referred to as the “City”, is soliciting proposals for

Actuarial Services. Qualified firms, hereafter referred to as “vendor(s)”, which meet the

requirements set forth in this Request for Proposal are encouraged to participate.

1.2 General Information about the City

The City of San Carlos is a full-service, general law city, governed by a council-manager

form of government. As of February 1st, 2026, the City employs approximately 104 full-

time and 60 part-time, and elected employees. Incorporated in June 1925, San Carlos

has a population of about 28,500. Encompassing approximately 5 square miles, San

Carlos is situated 25 miles south of San Francisco, on the San Francisco Peninsula, in

San Mateo County.

As of June 30, 2009, the City joined the California Employers’ Retiree Benefit Trust

(CERBT), an agent multiple-employer plan administered by CALPERS, consisting of an

aggregation of single-employer plans. As of Fiscal Year end June 30, 2025, the City had

a total OPEB liability in the amount of $5,093,118 and a net liability of $908,921.

By Council resolution and through agreements with its labor units, the City provides

certain health care benefits for retired employees (spouse and dependents are not

included) under third-party insurance plans. A summary of eligibility and retiree

contribution requirements are shown below by bargaining unit.

PEPRA Member

- PEMHCA Minimum

- $158/month in 2025

- Indexed with CPI medical component

Classic Member

>= 2009

< 2009

-PEMHCA Minimum

$158/month in 2025

-Indexed with CPI medical

component

-PEMHCA Minimum

$158/month in 2025

-Indexed with CPI medical

component

-$1,175.51/month in 2025

-City reimburses retiree-only

premium up to active

employee single cap

As of June 30, 2025, approximately 68 participants were eligible to receive retiree health

care benefits.

The table below shows a summary of the benefits provided for the City’s Longevity

Recognition Defined Benefit Plan.

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City of San Carlos

Actuarial Services RFP

 Longevity Recognition

Program – GASB 68

Classic Member

AFSCME and

Management and Confidential

Teamsters

 Hired before 1/1/2009 and 10 years City service:

 2025: $1,175.51/month

 Adjusted annually by same % as Internal Revenue Code

Section 125 for active single employee

 AFSCME (formerly  Hired > 1/1/2009:

“Mid-Mgt”) hired

from 1/1/2009 to

 Not eligible

12/13/2010 and

15 years service;

AFSMCE (formerly

“Clerical”) hire

from 1/1/2009 to

2/28/2011 and 15

years service;

Teamsters hired

from 1/1/2009 to

3/28/2011 and 15

years service:

 $350/month

 No future

increases

 No continuation of longevity pay to surviving spouses

As of June 30, 2025, approximately 16 active employees were eligible to receive the

longevity recognition benefits.

The vendor’s principal contact with the City will be Paul Harris, Financial Services

Manager, or a designated representative, who will coordinate assistance to be provided

by the City to the vendor. City Hall is located at 600 Elm Street, San Carlos, California

94070. The telephone number is (650) 802-4213.

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2. Instructions

City of San Carlos

Actuarial Services RFP

2.1 Purpose

The purpose of this Request for Proposal (RFP) is to provide interested vendors with the

necessary information for preparing quotes for Actuarial Services that will meet the City’s

specific needs.

2.2 Term

The term of the Agreement is for two fiscal years to cover initial valuations and second

year rollover reports. The City may, at its option, extend the Agreement with the same or

more limited scope of required services for up to two (2) additional two-year terms.

2.3 Proposed Submission

Each quote shall be delivered by email (finance@cityofsancarlos.org) to the City by 2:00

pm, March 13th, 2026. Submissions after this deadline will not be accepted. Submissions

delivered by any other means will not be accepted.

Each quote shall include a letter of transmittal, not to exceed one page in length, signed

by an authorized representative of the vendor. This letter of transmittal must state the

names of the individual(s) authorized to negotiate with the City and sign contracts on

behalf of the vendor.

2.4 Questions Related to RFP

Any questions relating to this RFP should be directed to Paul Harris, Financial Services

Manager, via email at finance@cityofsancarlos.org.

3.0 Conditions and Requirements

3.1 Hard Prices

Prices quoted by vendors will be firm prices for the initial two-year period to include a

breakdown for the first year valuation and the second year rollover report, with any

increase stipulated for future optional two-year periods. Vendor quoted prices shall

include any applicable state and federal tax.

3.2 Evaluation Criteria

The various significant factors that will be considered in the evaluation of quotes are

summarized below. The City’s final selection will not be dictated on any single factor

4

City of San Carlos

Actuarial Services RFP

including price. The relative importance of these factors involves judgement on the part

of the City’s evaluation team and will include both objective and subjective analysis. A

vendor may be eliminated from consideration for failure to comply with any of the

requirements, depending upon the critical nature of such requirements. The proposal

shall be concise and to the point. Examples of previous work may be submitted as an

exhibit but will not necessarily influence the evaluation process. The Evaluation

Committee will base the evaluation on criteria including, but not limited to, the following

non-prioritized list:

 Scope of Services, as described in section 6.0

 Company background/relevant public sector experience

 Qualifications of proposed staff

 Reporting

 Cost effectiveness

 References

3.3 Right to Request Additional Information

During the evaluation process, the evaluation team and the City reserve the right, where

it may serve the best interest of the City, to request additional information and clarification

from vendors. At the discretion of the evaluation team and the City, vendors submitting

quotes may be requested to make oral presentations, or attend an online interview, as

part of the evaluation process.

3.4 Right to Reject Any or All Quotes

The City reserves the right to reject any or all proposals, to waive technicalities or

formalities, and to accept any proposal deemed in the best interest of the City. When

two or more vendors are deemed equal; the City reserves the right to make the award to

one of the two vendors.

3.5 Contracts

It is recognized that the formal basis of any agreement between the City and the vendor

is a contract rather than a proposal. In submitting proposals, vendors must indicate that

they are prepared to complete a contract containing all the information submitted in their

proposal. The proposal will become part of the contract between the City and the

successful vendor. The template to be used for the agreement is shown in Appendix D.

3.6 Rights to Submitted Materials

All proposals, inquiries, responses, or correspondence related to or in reference to this

RFP, and all reports, charts, displays, schedules, exhibits, and other documentation

submitted by the vendor will become property of the City and a matter of public record.

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Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services
• NAICS 541612Human Resources Consulting Services

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