RFP: SOC 1 Type 2 Audit of Other Post-Employment Benefits (OPEB) Program
The Los Angeles County Employees Retirement Association (LACERA), a $70 billion public pension fund, is seeking proposals from qualified firms to perform a System and Organization Controls 1 Type 2 (SOC) audit of LACERA’s Other Post-Employment Benefits (OPEB) program. The audit will review LACERA’s OPEB business processes and information systems and the description and the suitability of the design and operating effectiveness of the controls in place. LACERA expects to enter into an agreement for a five-year period to audit Fiscal Years Ending June 30, 2024 – 2028, with an option to extend the contract for up to two years.
Scope of Services
The selected Firm will perform an audit with the objective of expressing an opinion on the fairness of the presentation of LACERA’s description of its other post-employment benefits program and the suitability of the design and operating effectiveness of the controls in place.
To meet the requirements of this RFP, the engagement shall be performed in accordance with attestation standards as applicable and as set forth by the American Institute of Certified Public Accountants.
We expect the work to be completed as a hybrid engagement as determined by the selected Firm.
Following the completion of the audit, the auditor shall issue a SOC 1 Type 2 Report to be presented to LACERA’s Audit Committee.
If your firm chooses to respond to this RFP, please send the Intent to Respond, Exhibit A, to Kimberly Hines via email, firstname.lastname@example.org by 5:00 p.m. PST, March 20, 2023. Failure to send your Intent to Respond may disqualify your firm from submitting a response to this RFP.
Bid submissions must be delivered in PDF or Microsoft Word format via email to Kimberly Hines, email@example.com April 21, 2023, no later than 5:00 PM PST.
If Respondent requires any confidential information to be exempt from public disclosure, then submissions should also include one electronic copy, marked “REDACTED”. The redacted copies should redact all material from the proposal that the respondent believes in good faith is exempt from disclosure under the California Public Records Act, (California Government Code section 6250 et seq. the “Act”). Individual redactions should appear as blacked out material. Large sections, tables, or entire blank page(s) shall include the word “REDACTED” or “PROPRIETARY” inserted. Each respondent must indicate the basis for each redaction under the Act (defined below) with a citation to the code section and subsection relied upon. LACERA cannot guarantee that redacted information will not be publicly available. Please see “Notice to Respondents Regarding the Public Records Act AND RALPH M. BROWN ACT” (section 5 of the RFP) for further information. An electronic copy of both the original and the redacted response, each labeled accordingly.
Questions Related to This RFP
All questions, inquiries, and requests for additional information concerning this RFP should be received no later than 5:00 PM PDT, March 27, 2023, and should be emailed to Kimberly Hines at firstname.lastname@example.org. All questions received and responses thereto will be posted on LACERA’s website (www.lacera.com) under the "Business Opportunities" section that relates to this RFP on or about 5:00 PM PDT, April 5, 2023.
The following information provides a tentative schedule of important dates and deadlines for this RFP. All dates are subject to modification by LACERA without notice.
- RFP release date
- March 8, 2023
- Intent to Respond closing date
- March 20, 2023
- Written questions from Respondents due date
- March 27, 2023
- LACERA’s response to Respondents’ questions
- April 5, 2023
- RFP submission due date
- April 21, 2023
- Notification of Finalist(s)
- May 15, 2023
- Audit Committee presentation/interview and selection
- Mid-June 2023
- Commencement of work
- Upon contract execution