RRB-OIG Actuarial Audit Services
Overview
Buyer
Place of Performance
NAICS
PSC
Set Aside
Original Source
Timeline
Qualification Details
Fit reasons
- NAICS alignment with historical contract wins in similar service areas.
- Scope strongly matches core technical capabilities and delivery model.
Risks
- Past performance thresholds may require one additional teaming partner.
- Potential clarification needed on staffing minimums before bid/no-bid.
Next steps
Validate eligibility requirements, assign capture owner, and schedule partner outreach to confirm teaming strategy before submission planning.
Quick Summary
The U.S. Railroad Retirement Board (RRB) Office of Inspector General (OIG) is soliciting proposals for Actuarial Audit Services to assist with its annual audit of the RRB's financial statements. This procurement is conducted under Simplified Acquisition Procedures. Proposals are due by April 7, 2026, at 1:00 PM CT.
Purpose
The RRB OIG requires external services to conduct limited scope actuarial audits of the RRB's financial statements, specifically the Statement of Social Insurance (SOI) and the Statement of Changes in Social Insurance Amounts (SCSIA). These audits ensure compliance with U.S. generally accepted accounting principles (GAAP) and Federal Accounting Standards Advisory Board (FASAB) standards, including SFFAS #17 and #37.
Scope of Work
The contractor will perform annual limited scope actuarial audits for the reporting periods covering FY25 (base period) through FY29 (optional period 4). Key tasks include:
- Evaluating methods and assumptions against Actuarial Standards of Practice.
- Ensuring compliance with laws and regulations governing program operations.
- Verifying data completeness and reliability.
- Assessing the reasonableness of estimates and compliance with SFFAS #17 and #37.
- Reconciling cell data to source data every third year.
- Addressing the existing financial reporting material weakness related to social insurance. The contractor must provide all necessary resources, conduct an annual onsite quality review, prepare an annual workplan and activity checklist, and submit monthly progress reports.
Contract Details
- Contract Type: Firm-Fixed Price
- Period of Performance: A base period (May 1, 2026 - October 31, 2026) and four one-year option periods, extending through October 31, 2030.
- Acquisition Strategy: Simplified Acquisition Procedures (FAR Part 13).
- Place of Performance: Primarily Chicago, IL (RRB Headquarters).
- Incumbent: This is a follow-on contract; the current contractor is The Segal Group, Inc.
Submission & Evaluation
- Proposal Due Date: April 7, 2026, at 1:00 PM CT.
- Submission Method: Email to proposals@rrb.gov, with the subject line "Proposal submission for RFP 60RRBH26R0002, Actuarial Audit Services".
- Evaluation Criteria: Lowest Price Technically Acceptable (LPTA). Technical acceptability will be assessed, and award will be made to the lowest-priced technically acceptable offeror. No discussions will be conducted.
- Requirements: Offerors must be registered in SAM and submit a copy of their GSA contract if applicable. Past performance will be a factor.
Reporting Requirements
The contractor must provide a draft written report by mid-September and a final written report by the first week of October annually. Reports must detail findings, conclusions, scope, methodology, and any limitations, responding to each determination required in the SOW. Monthly progress reports are also required. All data and deliverables become the property of the federal government and must be kept confidential.