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Public Higher Education Bulletin

Illinois Comptroller
Bid #IOC19004

Invitation for Bid: IOC Financial Consulting and Actuarial Services

Renewal Info
Published Tuesday June 2, 2020
Renewal entered into with:
Vendor: Buck Global, LLC
Amount: An amount not to exceed $48,000
Renewal: 1st of 3, 7/1/2020 through 6/30/2021
Pricing Changes: 
Service/Product Changes: 
Potential Future Renewals: $48,000
The Chief Procurement Officer for this procurement is now Ben Bagby.
The University has taken into account 30 ILCS 575/8i of the BEP Act in conducting this renewal.

The University award process may be delayed up to thirty days as this award goes through a state approval process.
Award Info Published Tuesday June 18, 2019
Awarded to:
Vendor: Buck Global, LLC, Chicago, IL
Amount: An estimated $35,997
An estimated start date of 7/15/2019 through 6/30/2021
3 one-year
Potential Future Renewals: $47,997
Number of unsuccessful, responsive bidders: 1
The State Purchasing Officer for this procurement is now Shirley Webb.
The University award process may be delayed up to thirty days as this award goes through a state approval process.
This notice has been modified
Published Tuesday May 21, 2019
The Office of the Comptroller has attached responses to Vendor questions along with prior year reports requested by vendors.
First published Wednesday, April 17, 2019
Sealed bids will be accepted below until 5:00 PM, Friday May 31, 2019:
At the following address:
325 West Adams
Springfield, IL 62704
The firm will provide advice and assistance to the IOC in developing a methodology or methodologies for determining the effective rate of interest for the SURS investment portfolio. The firm will perform the necessary calculations to determine the effective rate of interest under any recommended methodologies. As part of this process, the firm will be expected to develop and/or identify metrics and benchmarks to utilize in quantifying the statutorily mandated factors to be used by the IOC in determining the effective rate of interest. The firm shall run a historical or long-term experience analysis using the proposed methodology to determine historic trends in rate of interest movements. For the first year, completion of work is required by January 20, 2020.

For instructions on how to obtain a comprehensive purchase description, disclosure or contract forms, contact:
Eugene Oliver
325 W Adams
Springfield, IL 62704
Phone: (217) 558-3356
State Purchasing Officer - Shirley Webb
Solicitation documents may be obtained by contacting the Purchasing Office.
The University reserves the right to accept or reject any and all responses or parts thereof.
Illinois Department of Human Rights (IDHR) eligibility number is required on all proposals, if applicable.
Vendor may expect payment thirty to sixty days after receipt of invoice, unless otherwise stated in the bid documents.
The contract(s) for this solicitation could exceed $50,000 annually.

This transaction is subject to the State Board of Elections registration and certification requirements of Public Act 095-0971.

The State of Illinois has a policy to encourage prospective vendors to hire qualified veterans, minorities, females, persons with disabilities and ex-offenders.

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Specification Documents
  • IOCIFB19-004.pdf (531 KB)
Other Public Documents
  • FY2018_IOCSURSEffectiveRateofInterest.pdf (196 KB)
  • FY2019_IOCSURSEffectiveRateofInterest.pdf (196 KB)
  • FY2020_IOCSURSEffectiveRateofInterest.pdf (192 KB)
  • IFB19-004VendorQuestionsandAnswers.pdf (186 KB)
  • IOCSURSERIforFY2018.pdf (299 KB)
  • IOCSURSERIforFY2019.pdf (324 KB)
  • IOCSURSERIforFY2020.pdf (392 KB)