Actuarial Services

NYSIF is seeking proposals from qualified firms capable of providing Actuarial Services, as further described in the Request for Proposals (RFP). Services under this contract will include providing the annual Statement of Actuarial Opinion for both the Workers’ Compensation Fund and the Disability Benefits Fund and may include quarterly reserve reviews for the Workers’ Compensation Fund and an annual estimate of the liabilities of the Aggregate Trust Fund. Additional services may include, but are not limited to, developing loss payment projections for each fund, advising on the methodology for developing Loss Cost Multipliers (LCM’s), developing predictive models for rating and pricing of risks, recommending best practices regarding pricing, reserving and policies and procedures of the Actuarial Department, and reviewing the soundness of actuarial methods used to declare dividends for safety groups.

NYSIF anticipates awarding a single contract. The solicitation document may be obtained from NYSIF’s Procurement website at www.nysif.com/procurement. Interested parties should e-mail contracts@nysif.com with any questions. Please include “NYSIF 2025-53-ADM” in the subject line of the e-mail.

All amendments, clarifications and any announcements related to this procurement will be posted on NYSIF’s website at: www.nysif.com/procurement. It is the sole responsibility of the bidders to check the website for any amendments, clarifications or updates. All applicable amendment information must be incorporated into the firm’s proposal. Failure to include this information in your proposal may result in the proposal being deemed non-responsive.

Proposals from responsible bidders are due 11/07/2025 by 2:00 p.m. EST. The calendar of events is detailed in the RFP.

Pursuant to State Finance Law § 139-j and § 139-k, this solicitation includes and imposes certain restrictions on communications between NYSIF personnel and a prospective bidder during the procurement process. Designated staff for this solicitation is Angela Sgambelluri & Alexandria Romano, NYSIF, 15 Computer Drive West, Albany NY 12205, contracts@nysif.com. Contacts made to other NYSIF personnel regarding this procurement may disqualify the prospective bidder and affect future procurements with governmental entities in the State of New York.

NYSIF is committed to achieving its goal of increasing opportunities for New York State Minority and Women’s Business Enterprises (M/WBE) and Service-Disabled Veteran Owned Businesses (SDVOB). Any company that feels it may meet the state requirements for MWBE certification but has not done so already is also encouraged to visit the NYS Empire State Development website at https://www.esd.ny.gov/doing-business-ny/mwbe for more information. We encourage any firm that believes it meets the state requirements for SDVOB certification to visit The Division of Service-Disabled Veterans’ Business Development within the NYS Office of General Services (OGS) at https://ogs.ny.gov/Veterans/.