The Awarded Bidder must: Perform independent actuarial analyses of the Paid Leave Trust Fund’s solvency using wage and claim data (when available) provided by the Department, as well as looking at publicly available claim date from other State PFML programs. Provide a comprehensive report on the solvency of the Maine PFML trust fund using the first three (3) quarters of revenue data from 2025, as well as projections of revenue and claims, to provide to the PFML Authority by 1/1/2026 so that they can vote whether to proceed with benefit applications on 5/1/2026 or delay to allow time to accrue more funds. Produce annual reports that monitor the Trust Fund’s solvency and make recommendation on the premium rate for each coming calendar year. Make recommendations regarding whether and to what extent the contribution rate of 1.0 percent may be lowered if reserves are sufficient to allow such a reduction. If the rate needs to be adjusted above 1.0 percent provide details on what factors are leading to increase and provide recommendations for keeping future adjustments under 1.0 percent. Make recommendations regarding any adjustments to benefits payments to assure the Trust Fund’s solvency. Review benefit reports by the third-party claims administrator and make suggestions on the format and content of that report, with the overall purpose of making the reports useful and meaningful to the PFML Authority and the Department. If requested by the Department, provide such advice and consultative services regarding issues and matters related to the solvency of the Paid Leave Trust Fund...
