Description
The State of Michigan’s Department of Treasury issued an RFP (260000001688) seeking a contractor to provide actuarial services for the Michigan Education Trust (MET). After a competitive evaluation, Gabriel, Roeder, Smith & Company Holdings, Inc. was recommended for award at a total contract value of $480,000. The contract term is three years and two months, with up to three one‑year renewal options. Technical evaluation focused on the statement of work, staffing plan, and prior experience, with a minimum technical score of 80 required for price consideration. The award includes hourly consulting rates for senior staff and a fixed‑rate actuarial analysis component, with annual CPI‑U adjustments.
• Scope: Actuarial analysis, consulting, reporting, and compliance for MET’s prepaid tuition contracts.
• Duration: 3 years + 2 months (potential extensions).
• Value: $480,000 (subject to CPI‑U adjustments).
• Key Personnel: Senior actuaries and consultants (e.g., Paul Wood, James Sparks).
• Evaluation Criteria: Technical score (40 % Statement of Work, 25 % Staffing, 5 % Questionnaire, 30 % Prior Experience).
• Submission Deadline: 20 May 2026; award intent announced 20 Aug 2026.