PBGC Spends $4.1M on SFA Compliance Support with Deloitte & Touche LLP
Contract Overview
Contract Amount: $4,110,530 ($4.1M)
Contractor: Deloitte & Touche LLP
Awarding Agency: Pension Benefit Guaranty Corporation
Start Date: 2024-04-01
End Date: 2027-05-20
Contract Duration: 1,144 days
Daily Burn Rate: $3.6K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 6
Pricing Type: FIRM FIXED PRICE
Sector: IT
Official Description: SPECIAL FINANCIAL ASSISTANCE (SFA) COMPLIANCE REVIEW SUPPORT
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20024
Plain-Language Summary
Pension Benefit Guaranty Corporation obligated $4.1 million to DELOITTE & TOUCHE LLP for work described as: SPECIAL FINANCIAL ASSISTANCE (SFA) COMPLIANCE REVIEW SUPPORT Key points: 1. Contract awarded to Deloitte & Touche LLP for $4.1M. 2. Service category is Other Computer Related Services (NAICS 541519). 3. Full and open competition was utilized. 4. Contract duration is 1144 days. 5. No small business participation noted.
Value Assessment
Rating: fair
The contract value of $4.1M for SFA Compliance Review Support appears reasonable given the duration and specialized nature of the services. Benchmarking against similar IT consulting contracts is difficult without more specific service details.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, suggesting a robust price discovery process. This method generally leads to competitive pricing, though the final price is influenced by the specific requirements and vendor capabilities.
Taxpayer Impact: Taxpayer funds are being used for essential compliance review support, aiming to ensure the integrity of financial assistance programs. The cost is justified if it prevents larger financial losses or ensures regulatory adherence.
Public Impact
Ensures compliance and financial stability of pension benefit plans. Supports regulatory oversight and risk management for PBGC. Potential impact on beneficiaries if compliance is not maintained. Utilizes specialized IT services for complex financial data analysis.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Lack of small business participation.
- Limited transparency on specific deliverables and performance metrics.
Positive Signals
- Awarded through full and open competition.
- Long-term contract provides stability for compliance efforts.
- Specialized IT services address a critical need.
Sector Analysis
The IT consulting sector is highly competitive, with specialized firms offering services like compliance review. PBGC's spending aligns with typical government expenditures for professional IT services supporting financial oversight and regulatory functions.
Small Business Impact
The contract data indicates no small business participation (ss=false, sb=false). This suggests that the prime contractor, Deloitte & Touche LLP, is handling the entire scope of work, potentially missing opportunities for small business engagement.
Oversight & Accountability
The Pension Benefit Guaranty Corporation (PBGC) is responsible for this contract. Oversight would involve monitoring Deloitte & Touche LLP's performance against contract requirements and ensuring adherence to financial and compliance standards.
Related Government Programs
- Other Computer Related Services
- Pension Benefit Guaranty Corporation Contracting
- Pension Benefit Guaranty Corporation Programs
Risk Flags
- No small business participation.
- Potential for vendor lock-in due to specialized services.
- Reliance on a single large firm for critical compliance functions.
- Limited public detail on specific performance metrics and outcomes.
Tags
other-computer-related-services, pension-benefit-guaranty-corporation, dc, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Pension Benefit Guaranty Corporation awarded $4.1 million to DELOITTE & TOUCHE LLP. SPECIAL FINANCIAL ASSISTANCE (SFA) COMPLIANCE REVIEW SUPPORT
Who is the contractor on this award?
The obligated recipient is DELOITTE & TOUCHE 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 $4.1 million.
What is the period of performance?
Start: 2024-04-01. End: 2027-05-20.
What specific compliance reviews are being conducted under this contract, and what is the expected outcome in terms of financial risk mitigation for PBGC?
The contract is for Special Financial Assistance (SFA) Compliance Review Support. The expected outcome is to ensure that recipients of SFA are adhering to the terms and conditions set forth by PBGC, thereby mitigating financial risks associated with improper fund utilization and safeguarding the agency's financial stability. Specific reviews likely involve financial audits and operational assessments.
How does the $4.1M contract value compare to industry benchmarks for similar SFA compliance review services, considering the 3-year duration?
Benchmarking this $4.1M contract requires detailed service scope comparison. However, for specialized IT and financial consulting over approximately three years, this value is within a reasonable range, especially given the regulatory complexity and potential liabilities involved in SFA compliance. The firm fixed price structure suggests cost certainty for PBGC.
What mechanisms are in place to ensure the effectiveness and efficiency of Deloitte & Touche LLP's services throughout the contract period?
Effectiveness and efficiency are typically ensured through performance work statements, defined deliverables, key performance indicators (KPIs), and regular progress reviews. PBGC would likely have a contract officer representative (COR) monitoring performance, with mechanisms for feedback, issue resolution, and potential contract modifications if services are not meeting expectations.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Other Computer Related 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: 16PBGC24Q0013
Offers Received: 6
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Parent Company: Deloitte Consulting LLP
Address: 1919 N LYNN ST, 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: $9,553,783
Exercised Options: $4,110,530
Current Obligation: $4,110,530
Actual Outlays: $1,762,737
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: GS00F029DA
IDV Type: FSS
Timeline
Start Date: 2024-04-01
Current End Date: 2027-05-20
Potential End Date: 2029-05-20 00:00:00
Last Modified: 2026-03-19
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