FAMLI Actuarial and Economic Analysis Services

Background
The Maryland Department of Labor (MDOL) is conducting market research to identify capable parties interested in Actuarial and Economic Analysis Services procurement. The purpose is to increase socioeconomic inclusion and gauge potential opportunities for MBE/SBR participation regarding a future solicitation. MDOL aims to implement a new paid family and medical leave program for the State of Maryland, known as the Family and Medical Leave Insurance (FAMLI) program. The program will ensure wage replacement during periods of missed work due to qualifying events for all private-sector, state, and local workers in the state.

Work Details
The actuarial and economic analysis services contract resulting from a future RFP is envisioned to last up to five years, with three base years and up to two additional option years. The contract would include a firm-fixed-price (FFP) component and a fixed-unit-price-indefinite-quantity (FUPIQ) component.
The FFP component would consist of various deliverables such as providing personnel, actuarial forecasts, retrospective summaries, detailed reports, and economic impact analysis.
The FUPIQ component would require the contractor to specify labor categories and full-loaded hourly rates for those labor categories, allowing MDOL to issue task orders for additional deliverables.

Period of Performance
The term of the contract is anticipated to commence in July 2024, lasting for multiple years with potential renewal options.

Place of Performance
The geographic location(s) where the actuarial and economic analysis services will be performed are not explicitly specified in the provided information.