PBGC Spends $5.1M on Grant Thornton PDR Support Services via BPA Call
Contract Overview
Contract Amount: $5,113,153 ($5.1M)
Contractor: Grant Thornton LLP
Awarding Agency: Pension Benefit Guaranty Corporation
Start Date: 2021-08-17
End Date: 2025-02-16
Contract Duration: 1,279 days
Daily Burn Rate: $4.0K/day
Competition Type: FULL AND OPEN COMPETITION
Pricing Type: TIME AND MATERIALS
Sector: Other
Official Description: PARTICIPANT DATA REVIEW (PDR) SUPPORT SERVICES
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20024
Plain-Language Summary
Pension Benefit Guaranty Corporation obligated $5.1 million to GRANT THORNTON LLP for work described as: PARTICIPANT DATA REVIEW (PDR) SUPPORT SERVICES Key points: 1. Grant Thornton LLP secured a $5.1M contract for Participant Data Review support. 2. The contract was awarded under a Full and Open Competition. 3. The services fall under Administrative Management and General Management Consulting. 4. This contract represents a significant investment in data management for PBGC.
Value Assessment
Rating: fair
The contract value of $5.1M for 1279 days of service appears reasonable given the specialized nature of administrative management consulting. Benchmarking against similar contracts for PDR support is difficult without more granular data on service scope.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through Full and Open Competition, suggesting a robust price discovery process. The use of a BPA Call indicates a pre-negotiated framework, potentially leading to more efficient pricing.
Taxpayer Impact: Taxpayer funds are being utilized for essential data review services, aiming to ensure the integrity of pension benefits.
Public Impact
Ensures accuracy and security of participant data for pension plans. Supports the Pension Benefit Guaranty Corporation's mission to protect retirement security. Potential for improved efficiency in data management processes.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Lack of specific performance metrics provided.
- Potential for cost overruns in Time and Materials contracts.
- Limited visibility into the specific deliverables and outcomes.
Positive Signals
- Awarded via Full and Open Competition.
- Contract supports a critical government function.
- Established vendor with known capabilities.
Sector Analysis
This contract falls within the professional services sector, specifically management consulting. Spending benchmarks for similar PDR support services are not readily available, but $5.1M over approximately 3.5 years suggests a substantial, ongoing need.
Small Business Impact
The contract was awarded to Grant Thornton LLP, a large business. There is no indication that small businesses were involved as subcontractors in this specific award.
Oversight & Accountability
The Pension Benefit Guaranty Corporation is responsible for oversight. The Time and Materials contract type necessitates careful monitoring to ensure costs remain within budget and align with services rendered.
Related Government Programs
- Administrative Management and General Management Consulting Services
- Pension Benefit Guaranty Corporation Contracting
- Pension Benefit Guaranty Corporation Programs
Risk Flags
- Time and Materials contract type.
- Lack of detailed performance metrics.
- Limited information on specific deliverables.
- Potential for scope creep.
Tags
administrative-management-and-general-ma, pension-benefit-guaranty-corporation, dc, bpa-call, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Pension Benefit Guaranty Corporation awarded $5.1 million to GRANT THORNTON LLP. PARTICIPANT DATA REVIEW (PDR) SUPPORT SERVICES
Who is the contractor on this award?
The obligated recipient is GRANT THORNTON LLP.
Which agency awarded this contract?
Awarding agency: Pension Benefit Guaranty Corporation (Pension Benefit Guaranty Corporation).
What is the total obligated amount?
The obligated amount is $5.1 million.
What is the period of performance?
Start: 2021-08-17. End: 2025-02-16.
What specific data points are being reviewed, and what is the expected impact on PBGC's operational efficiency?
The specific data points under review are not detailed in the provided information. However, the objective of Participant Data Review (PDR) support services is typically to validate, cleanse, and organize participant information to ensure accurate benefit calculations and compliance. Improved operational efficiency is expected through streamlined data management, reduced errors, and enhanced reporting capabilities for the PBGC.
What are the key risks associated with a Time and Materials contract for PDR support, and how are they being mitigated?
Key risks include potential cost overruns if the scope is not well-defined or if inefficiencies arise, and the possibility of scope creep. Mitigation strategies typically involve strong contract oversight, detailed task orders, regular progress reviews, and clear communication channels between PBGC and Grant Thornton LLP to ensure alignment on objectives and expenditures.
How does this $5.1M investment in PDR support contribute to the long-term effectiveness of the Pension Benefit Guaranty Corporation?
This investment is crucial for the long-term effectiveness of the PBGC by ensuring the accuracy and reliability of the data underpinning its core mission: guaranteeing pension benefits. Accurate data prevents potential financial miscalculations, strengthens compliance, and builds trust with participants and stakeholders. It also supports the agency's ability to manage its portfolio of plans effectively.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Administrative Management and General Management Consulting Services
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Solicitation ID: 16PBGC21Q0063
Pricing Type: TIME AND MATERIALS (Y)
Evaluated Preference: NONE
Contractor Details
Address: 1000 WILSON BLVD STE 1400, ARLINGTON, VA, 22209
Business Categories: Category Business, Not Designated a Small Business, Partnership or Limited Liability Partnership, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $5,113,153
Exercised Options: $5,113,153
Current Obligation: $5,113,153
Actual Outlays: $3,288,251
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: PBGC01BP160009
IDV Type: BPA
Timeline
Start Date: 2021-08-17
Current End Date: 2025-02-16
Potential End Date: 2025-02-16 00:00:00
Last Modified: 2026-03-10
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