PBGC awards $16.9M contract for actuarial support to Bolton Partners, Inc
Contract Overview
Contract Amount: $16,926,236 ($16.9M)
Contractor: Bolton Partners D.C., Inc.
Awarding Agency: Pension Benefit Guaranty Corporation
Start Date: 2022-02-01
End Date: 2027-01-31
Contract Duration: 1,825 days
Daily Burn Rate: $9.3K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 6
Pricing Type: TIME AND MATERIALS
Sector: Other
Official Description: ASTD ACTUARIAL SUPPORT SERVICES
Place of Performance
Location: BALTIMORE, BALTIMORE CITY County, MARYLAND, 21201
State: Maryland Government Spending
Plain-Language Summary
Pension Benefit Guaranty Corporation obligated $16.9 million to BOLTON PARTNERS D.C., INC. for work described as: ASTD ACTUARIAL SUPPORT SERVICES Key points: 1. Contract value of $16.9M over 5 years. 2. Bolton Partners D.C., Inc. is the sole awardee. 3. Risk of limited competition due to specialized services. 4. Spending falls within HR consulting services sector.
Value Assessment
Rating: fair
The contract value of $16.9M over five years averages $3.38M annually. Benchmarking against similar actuarial support contracts is difficult without more specific service details, but this appears to be a moderate investment for specialized HR consulting.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, suggesting a competitive bidding process. However, the specific awardee and lack of other listed bidders may indicate a concentrated market for these specialized actuarial services.
Taxpayer Impact: Taxpayer funds are being used for essential actuarial support to the Pension Benefit Guaranty Corporation, ensuring proper management of pension plans.
Public Impact
Ensures continued actuarial analysis for pension plan solvency. Supports PBGC's mission to protect retirement benefits. Potential for increased costs if competition is truly limited in the long term.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Limited number of bidders for specialized services.
- Potential for price creep in time and materials contracts.
Positive Signals
- Awarded under full and open competition.
- Contract duration provides stability for essential services.
Sector Analysis
This contract falls under Human Resources Consulting Services (NAICS 541612). Spending in this sector can vary widely based on agency needs, but actuarial support is a critical, albeit niche, component for organizations managing defined benefit plans.
Small Business Impact
The contract was awarded to Bolton Partners D.C., Inc., a single entity. There is no indication of small business participation or subcontracting in the provided data.
Oversight & Accountability
The Pension Benefit Guaranty Corporation is responsible for overseeing this contract. Standard oversight mechanisms for time and materials contracts should be in place to monitor performance and costs.
Related Government Programs
- Human Resources Consulting Services
- Pension Benefit Guaranty Corporation Contracting
- Pension Benefit Guaranty Corporation Programs
Risk Flags
- Potential for limited competition
- Time and Materials pricing structure
- Lack of small business participation noted
- Specialized service area
Tags
human-resources-consulting-services, pension-benefit-guaranty-corporation, md, definitive-contract, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Pension Benefit Guaranty Corporation awarded $16.9 million to BOLTON PARTNERS D.C., INC.. ASTD ACTUARIAL SUPPORT SERVICES
Who is the contractor on this award?
The obligated recipient is BOLTON PARTNERS D.C., INC..
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 $16.9 million.
What is the period of performance?
Start: 2022-02-01. End: 2027-01-31.
What is the specific breakdown of services provided under this contract and how does it compare to market rates for similar actuarial consulting?
The provided data lacks specific service details, making a precise market rate comparison difficult. However, the contract's annual value of approximately $3.38M suggests a significant scope of work. Further analysis would require examining the Statement of Work (SOW) to assess if the pricing is competitive against industry benchmarks for specialized actuarial services.
Given the specialized nature of actuarial support, what are the risks associated with limited competition and potential price escalation over the contract's five-year term?
The primary risk is that the specialized nature of actuarial services may limit the pool of qualified bidders, potentially leading to higher prices than if broader competition existed. Time and materials contracts can also be susceptible to price escalation if not closely monitored, requiring robust oversight to ensure cost-effectiveness.
How effectively does this contract support the Pension Benefit Guaranty Corporation's core mission of protecting retirement benefits?
This contract is crucial for the PBGC's mission as actuarial support is fundamental to assessing the financial health of pension plans and managing potential liabilities. Consistent and accurate actuarial analysis ensures the agency can effectively fulfill its guarantee obligations to participants.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Human Resources Consulting Services
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE
Solicitation ID: 16PBGC210012
Offers Received: 6
Pricing Type: TIME AND MATERIALS (Y)
Evaluated Preference: NONE
Contractor Details
Address: 2200 WILSON BLVD STE 810, ARLINGTON, VA, 22201
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $43,266,565
Exercised Options: $16,926,236
Current Obligation: $16,926,236
Actual Outlays: $4,976,869
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Timeline
Start Date: 2022-02-01
Current End Date: 2027-01-31
Potential End Date: 2032-01-31 00:00:00
Last Modified: 2026-01-09
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