PBGC awards $278.8M contract for actuarial support services to Bolton Partners, Inc
Contract Overview
Contract Amount: $278,755 ($278.8K)
Contractor: Bolton Partners, Inc.
Awarding Agency: Pension Benefit Guaranty Corporation
Start Date: 2022-08-21
End Date: 2026-08-20
Contract Duration: 1,460 days
Daily Burn Rate: $191/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: ACTUARIAL SUPPORT SERVICES
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20024
Plain-Language Summary
Pension Benefit Guaranty Corporation obligated $278,755 to BOLTON PARTNERS, INC. for work described as: ACTUARIAL SUPPORT SERVICES Key points: 1. Contract value of $278.8 million over four years. 2. Bolton Partners, Inc. is the sole awardee. 3. Risk of vendor lock-in due to sole award. 4. Services fall under administrative management consulting.
Value Assessment
Rating: fair
The contract value of $278.8 million for four years of actuarial support services appears to be within a reasonable range for specialized consulting. Benchmarking against similar large-scale actuarial contracts would provide a more precise assessment.
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, only one award was made, which may indicate limited qualified bidders or a specific focus on one vendor's capabilities.
Taxpayer Impact: Taxpayer funds are being used for essential actuarial services to ensure the stability of pension plans. The competitive award process aims to secure value for money.
Public Impact
Ensures continued support for pension plan administration and solvency. Bolton Partners, Inc. will provide critical actuarial analysis. Potential impact on pension beneficiaries if services are not effectively managed.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Sole awardee may limit future competition.
- Reliance on a single vendor for critical services.
Positive Signals
- Awarded under full and open competition.
- Firm Fixed Price contract provides cost certainty.
Sector Analysis
This contract falls within the professional services sector, specifically administrative management and general management consulting. Spending in this area is common for government agencies requiring specialized expertise for complex operations like pension management.
Small Business Impact
The data indicates that this contract was not awarded to a small business. There is no information provided on subcontracting opportunities for small businesses within this award.
Oversight & Accountability
The Pension Benefit Guaranty Corporation is responsible for overseeing this contract. Standard oversight mechanisms should be in place to ensure performance and accountability, but specific details are not provided.
Related Government Programs
- Administrative Management and General Management Consulting Services
- Pension Benefit Guaranty Corporation Contracting
- Pension Benefit Guaranty Corporation Programs
Risk Flags
- Potential for vendor lock-in.
- Reliance on a single provider for critical services.
- Limited visibility into detailed cost breakdowns.
- Need for ongoing market research to ensure future competition.
Tags
administrative-management-and-general-ma, pension-benefit-guaranty-corporation, dc, delivery-order, 100k-plus
Frequently Asked Questions
What is this federal contract paying for?
Pension Benefit Guaranty Corporation awarded $278,755 to BOLTON PARTNERS, INC.. ACTUARIAL SUPPORT SERVICES
Who is the contractor on this award?
The obligated recipient is BOLTON PARTNERS, 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 $278,755.
What is the period of performance?
Start: 2022-08-21. End: 2026-08-20.
What is the specific scope of actuarial support required, and how does it align with PBGC's core mission?
The actuarial support services are crucial for the Pension Benefit Guaranty Corporation's mission of protecting the retirement security of millions of Americans. This includes assessing the financial health of defined benefit pension plans, estimating liabilities, and supporting PBGC's role in managing and terminating underfunded plans. The services likely encompass a range of analytical tasks, risk assessments, and reporting necessary for informed decision-making and regulatory compliance.
What were the key factors that led to a single award despite full and open competition?
Despite full and open competition, a single award suggests that only one offeror met all the technical requirements, demonstrated the best value, or possessed unique qualifications essential for the specific actuarial support needed by the PBGC. It could also indicate that the solicitation was structured in a way that favored a specific type of expertise or that other bidders were deemed not to provide sufficient value or capability.
How will the PBGC ensure continued access to competitive pricing and innovation in future contract renewals, given this sole award?
To ensure future competitive pricing and innovation, the PBGC should actively monitor market trends and the performance of Bolton Partners, Inc. Before the current contract's expiration, they should conduct thorough market research to identify potential new entrants or innovative solutions. Developing a robust performance evaluation and potentially re-scoping the requirements could encourage broader competition in subsequent solicitations.
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) › MANAGEMENT SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Solicitation ID: 16PBGC22Q0031
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 1 W PENNSYLVANIA AVE STE 600, TOWSON, MD, 21204
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $469,855
Exercised Options: $278,755
Current Obligation: $278,755
Actual Outlays: $146,390
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: GS23F0019X
IDV Type: FSS
Timeline
Start Date: 2022-08-21
Current End Date: 2026-08-20
Potential End Date: 2027-08-20 00:00:00
Last Modified: 2026-04-13
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