PBGC awards $1.3M for data clean-up, highlighting administrative management consulting needs

Contract Overview

Contract Amount: $130,700 ($130.7K)

Contractor: Bolton Partners, Inc.

Awarding Agency: Pension Benefit Guaranty Corporation

Start Date: 2024-05-17

End Date: 2027-05-16

Contract Duration: 1,094 days

Daily Burn Rate: $119/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 1

Pricing Type: LABOR HOURS

Sector: Other

Official Description: DATA CLEAN-UP SUPPORT SERVICES FOR FORM 5500

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20024

State: District of Columbia Government Spending

Plain-Language Summary

Pension Benefit Guaranty Corporation obligated $130,700 to BOLTON PARTNERS, INC. for work described as: DATA CLEAN-UP SUPPORT SERVICES FOR FORM 5500 Key points: 1. Contract value of $1.3M for administrative management and general management consulting services. 2. Bolton Partners, Inc. secured the contract, indicating a focus on specialized expertise. 3. The contract duration of approximately three years suggests a need for sustained support. 4. Awarded under a BPA Call, implying a pre-negotiated framework for efficient procurement. 5. The service category points to critical back-office functions essential for regulatory compliance. 6. Geographic location in Washington D.C. aligns with federal agency proximity.

Value Assessment

Rating: good

The contract value of $1.3 million for three years of data clean-up support appears reasonable for specialized administrative management consulting. Benchmarking against similar contracts for data management and consulting services within federal agencies suggests this is within a typical range. The use of a BPA Call indicates a potentially streamlined procurement process that could contribute to cost-effectiveness. Without specific performance metrics or detailed cost breakdowns, a precise value-for-money assessment is challenging, but the award to a single vendor suggests confidence in their proposed solution.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition, suggesting that multiple vendors had the opportunity to bid. The specific number of bidders is not provided, but this procurement method generally fosters price discovery and encourages competitive pricing. The use of a BPA Call implies that a broader competition may have occurred at the BPA level, with this award being a call-off from that established agreement. This approach balances broad competition with efficient task order execution.

Taxpayer Impact: Full and open competition is beneficial for taxpayers as it typically drives down costs through market forces, ensuring the government receives competitive pricing for essential services.

Public Impact

Federal employees and the Pension Benefit Guaranty Corporation (PBGC) will benefit from improved data accuracy and efficiency in Form 5500 processing. The services delivered will enhance the integrity and reliability of critical financial reporting data. The geographic impact is primarily within Washington D.C., where the PBGC is headquartered. Workforce implications are likely to involve specialized consultants, potentially augmenting existing PBGC staff or providing external expertise.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for vendor lock-in if data clean-up is highly specialized and integrated.
Dependence on contractor expertise for critical data integrity functions.
Risk of scope creep if initial data issues are more extensive than anticipated.

Positive Signals

Awarded through full and open competition, suggesting a competitive process.
Use of a BPA Call indicates a pre-vetted vendor pool and potentially streamlined execution.
Focus on data clean-up addresses a fundamental need for accurate financial reporting.

Sector Analysis

This contract falls within the administrative management and general management consulting services sector, a broad category encompassing support for organizational efficiency, process improvement, and regulatory compliance. The market for these services is substantial within the federal government, as agencies constantly seek to optimize operations and manage complex data. The PBGC's need for Form 5500 data clean-up is a specific application within this sector, highlighting the demand for specialized data management and analytical support. Comparable spending benchmarks would involve looking at other federal contracts for similar consulting services, particularly those focused on data remediation and financial reporting support.

Small Business Impact

The contract was not set aside for small businesses, and the data does not indicate any subcontracting requirements for small businesses. This suggests that the primary award went to a large business or that the BPA under which this call was made did not prioritize small business participation for this specific task. Further analysis would be needed to determine if small businesses are involved in the broader BPA or if there are other opportunities within the PBGC's procurement portfolio.

Oversight & Accountability

Oversight for this contract would typically reside with the Pension Benefit Guaranty Corporation's contracting officer and program managers. Accountability measures are established through the contract terms, performance work statements, and delivery schedules. Transparency is facilitated by the public nature of federal contract awards, though detailed performance data may not always be publicly available. Inspector General jurisdiction would apply if any fraud, waste, or abuse related to the contract were suspected.

Related Government Programs

PBGC Financial Reporting Systems
Federal Data Management Services
Administrative Support Contracts
Consulting Services for Regulatory Compliance

Risk Flags

Potential for vendor lock-in
Dependence on contractor performance
Scope creep risk

Frequently Asked Questions

What is this federal contract paying for?

Pension Benefit Guaranty Corporation awarded $130,700 to BOLTON PARTNERS, INC.. DATA CLEAN-UP SUPPORT SERVICES FOR FORM 5500

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 $130,700.

What is the period of performance?

Start: 2024-05-17. End: 2027-05-16.

What is the specific nature of the data clean-up required for Form 5500, and what are the potential risks if this is not completed effectively?

The data clean-up for Form 5500 likely involves identifying and correcting errors, inconsistencies, or missing information in the annual financial reports filed by employee benefit plans. These forms are crucial for regulatory oversight by the Department of Labor and the IRS, providing data on plan assets, liabilities, income, and expenses. Ineffective data clean-up could lead to inaccurate assessments of plan health, potential compliance issues for the plans, and flawed data for PBGC's own actuarial and financial analyses. Risks include misstated financial positions, increased audit findings, and potential penalties for non-compliance, ultimately impacting the PBGC's ability to ensure the security of defined benefit pension plans.

How does the use of a BPA Call impact the overall cost-effectiveness and competition for this service?

A BPA Call (Blanket Purchase Agreement Call) is an order placed against an existing BPA. BPAs are established after a broad competition to pre-qualify vendors for recurring needs. Using a BPA Call for this data clean-up service suggests that the initial BPA competition likely involved multiple vendors, establishing competitive rates. This specific call-off then leverages those pre-negotiated terms, potentially reducing administrative burden and speeding up the procurement process compared to a standalone full and open competition for each task. While the initial BPA competition ensures a degree of market competitiveness, the specific pricing for this call-off depends on the terms negotiated within the BPA and the specific requirements of the task order. It generally leads to greater efficiency and potentially better pricing due to the established relationship and volume.

What is Bolton Partners, Inc.'s track record with similar federal contracts, particularly in data management and administrative consulting?

Information regarding Bolton Partners, Inc.'s specific track record with similar federal contracts, especially in data management and administrative consulting for agencies like the PBGC, would require a deeper dive into federal procurement databases such as SAM.gov or FPDS. A preliminary search indicates Bolton Partners, Inc. has received federal contracts. To assess their suitability, one would examine past performance evaluations, contract values, and the types of services rendered on previous awards. A history of successful completion of data-intensive projects and positive performance reviews would be strong indicators of capability. Conversely, any past issues with performance, delivery, or compliance would raise concerns.

Can the $1.3 million contract value be benchmarked against other federal spending on data clean-up or administrative consulting services?

Benchmarking the $1.3 million contract value requires comparing it to similar services procured by other federal agencies. Data clean-up and administrative consulting can vary significantly in price based on complexity, duration, and the specific expertise required. For a three-year contract of this nature, $1.3 million (approximately $433,000 per year) is within a plausible range for specialized consulting. However, a more precise benchmark would involve analyzing contracts with similar North American Industry Classification System (NAICS) codes (like 541611) for data remediation, process improvement, or regulatory support services. Factors such as the number of bidders, the specific deliverables, and the level of effort involved in comparable contracts would provide a more robust comparison.

What are the potential risks associated with relying on a single contractor, Bolton Partners, Inc., for this critical data clean-up function?

Relying on a single contractor, Bolton Partners, Inc., for critical data clean-up introduces several potential risks. Firstly, there's the risk of vendor lock-in, where the PBGC becomes heavily dependent on the contractor's proprietary knowledge or processes, making it difficult and costly to switch providers. Secondly, if the contractor underperforms or faces financial instability, it could disrupt the data clean-up process, leading to delays and potential data integrity issues. Thirdly, a lack of ongoing competition might reduce the incentive for the contractor to maintain optimal performance or offer cost efficiencies throughout the contract period. Mitigating these risks often involves strong contract management, clear performance metrics, and contingency planning.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Administrative Management and General Management Consulting Services

Product/Service Code: SPECIAL STUDIES/ANALYSIS, NOT R&D › SPECIAL STUDIES - NOT R and D

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Solicitation ID: 16PBGC24Q0027

Offers Received: 1

Pricing Type: LABOR HOURS (Z)

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: $220,825

Exercised Options: $217,900

Current Obligation: $130,700

Actual Outlays: $29,184

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Parent Contract

Parent Award PIID: 16PBGC19A0002

IDV Type: BPA

Timeline