DEED RFP Actuarial Analysis Services PFML

The Department of Employment and Economic Development's (DEED) Paid Family and Medical Leave (PFML) division is requesting proposals from responders to conduct detailed actuarial analysis services for the annual requirement as outlined in Minn. Stat. § 268B.14, subd. 7. The successful responder will perform tasks such as developing actuarial assumptions, creating a model to project Minnesota PFML experience, and providing regular updates on assigned work. The contract term is anticipated to be from January 2026 to December 2027, with the option to extend up to an additional three years. Key responsibilities include: * Developing actuarial assumptions specific to Minnesota * Creating a model to project Minnesota PFML experience over a five-year period * Providing regular updates on assigned work * Conducting in-person meetings as needed * Conducting up to 100 hours of ad hoc consulting * Providing up to 20 hours of testimony to state legislators The responder must be a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries with experience directly relevant to PFML analysis. • The responder must demonstrate experience in actuarial analysis and PFML program implementation • The responder must provide a detailed work plan and methodology for completing the tasks • The responder must provide references and complete an accessibility worksheet • The responder must comply with all terms and conditions of the solicitation