PBGC awards $135K contract to CEM Benchmarking Inc. for financial benchmarking services
Contract Overview
Contract Amount: $135,000 ($135.0K)
Contractor: CEM Benchmarking Inc
Awarding Agency: Pension Benefit Guaranty Corporation
Start Date: 2024-04-08
End Date: 2027-04-07
Contract Duration: 1,094 days
Daily Burn Rate: $123/day
Competition Type: NOT COMPETED UNDER SAP
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: FINANCIAL BENCHMARKING SERVICES
Place of Performance
Location: ARLINGTON, ARLINGTON County, VIRGINIA, 22209
State: Virginia Government Spending
Plain-Language Summary
Pension Benefit Guaranty Corporation obligated $135,000 to CEM BENCHMARKING INC for work described as: FINANCIAL BENCHMARKING SERVICES Key points: 1. Contract awarded to CEM Benchmarking Inc. for financial benchmarking. 2. The Pension Benefit Guaranty Corporation is the agency. 3. The contract is for administrative management and general management consulting services. 4. The contract duration is 1094 days. 5. The contract value is $135,000.
Value Assessment
Rating: fair
The contract value of $135,000 over approximately three years suggests a moderate annual spend. Without specific details on the scope of services, it's difficult to definitively benchmark against similar contracts. However, the fixed-price nature indicates a defined cost for the services rendered.
Cost Per Unit: N/A
Competition Analysis
Competition Level: sole-source
The contract was not competed under SAP, indicating a sole-source or limited competition procurement. This method may limit price discovery and potentially lead to higher costs compared to a fully competitive process.
Taxpayer Impact: The taxpayer impact is limited due to the relatively small contract value of $135,000. However, the lack of competition could represent a missed opportunity for cost savings.
Public Impact
Ensures access to specialized financial benchmarking data for pension fund management. Supports the Pension Benefit Guaranty Corporation's mission to protect retirement benefits. Potential for improved financial decision-making through comparative analysis.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Lack of competition
- Potential for overpayment due to sole-source award
Positive Signals
- Clear contract duration
- Firm fixed-price contract type
Sector Analysis
This contract falls under administrative management and general management consulting services, a broad category. Benchmarking services are crucial for organizations like PBGC to assess performance against industry peers and identify areas for improvement, especially within the financial services sector.
Small Business Impact
The contract was not awarded to a small business, as indicated by 'sb': false. There is no specific analysis of small business participation or subcontracting opportunities mentioned.
Oversight & Accountability
The contract is a purchase order, which is a common procurement instrument. Oversight would typically involve monitoring performance against the contract terms and ensuring timely delivery of services by CEM Benchmarking Inc.
Related Government Programs
- Administrative Management and General Management Consulting Services
- Pension Benefit Guaranty Corporation Contracting
- Pension Benefit Guaranty Corporation Programs
Risk Flags
- Lack of documented justification for sole-source award.
- Absence of details on price reasonableness determination.
- No clear indication of performance metrics or expected outcomes.
- Limited transparency on the specific services provided.
Tags
administrative-management-and-general-ma, pension-benefit-guaranty-corporation, va, purchase-order, 100k-plus
Frequently Asked Questions
What is this federal contract paying for?
Pension Benefit Guaranty Corporation awarded $135,000 to CEM BENCHMARKING INC. FINANCIAL BENCHMARKING SERVICES
Who is the contractor on this award?
The obligated recipient is CEM BENCHMARKING 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 $135,000.
What is the period of performance?
Start: 2024-04-08. End: 2027-04-07.
What specific financial metrics and benchmarks are included in this contract, and how do they align with PBGC's strategic goals?
The contract details do not specify the exact financial metrics or benchmarks to be provided by CEM Benchmarking Inc. A thorough review would be needed to ascertain if these align with PBGC's strategic objectives for managing and protecting pension benefits. Understanding the scope is key to evaluating the value derived from this service.
What is the justification for not competing this contract, and what steps were taken to ensure a fair and reasonable price?
The data indicates the contract was 'NOT COMPETED UNDER SAP,' suggesting a sole-source or limited competition approach. The justification for this decision and the process for determining a fair and reasonable price, such as market research or historical pricing, are not provided and warrant further investigation.
How will the insights gained from these benchmarking services be integrated into PBGC's operational and investment strategies to enhance effectiveness?
The effectiveness of this contract hinges on the actionable insights derived from the benchmarking data and their subsequent integration into PBGC's strategies. Without a clear plan for utilization and measurement of impact, the true value and effectiveness of the services remain uncertain. This requires a defined process for analysis and implementation.
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: NOT COMPETED UNDER SAP
Solicitation Procedures: SIMPLIFIED ACQUISITION
Solicitation ID: 16PBGC24Q0014
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 372 BAY ST, TORONTO
Business Categories: Category Business, Foreign Government, Not Designated a Small Business, Special Designations
Financial Breakdown
Contract Ceiling: $323,000
Exercised Options: $135,000
Current Obligation: $135,000
Actual Outlays: $44,000
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Timeline
Start Date: 2024-04-08
Current End Date: 2027-04-07
Potential End Date: 2029-04-07 00:00:00
Last Modified: 2026-04-13
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