Pension Benefit Guaranty Corporation awards $203,730 contract for actuarial support to Bolton Partners D.C., Inc

Contract Overview

Contract Amount: $203,730 ($203.7K)

Contractor: Bolton Partners D.C., Inc.

Awarding Agency: Pension Benefit Guaranty Corporation

Start Date: 2025-01-22

End Date: 2027-01-21

Contract Duration: 729 days

Daily Burn Rate: $279/day

Competition Type: NOT COMPETED UNDER SAP

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: THE AWARD OF THE STRATEGIC TARGET PENSION PLAN TO THAT PROVIDES ACTUARIAL AND RELATED SUPPORT IN ACCORDANCE WITH THE PWS.

Place of Performance

Location: ARLINGTON, ARLINGTON County, VIRGINIA, 22201

State: Virginia Government Spending

Plain-Language Summary

Pension Benefit Guaranty Corporation obligated $203,730 to BOLTON PARTNERS D.C., INC. for work described as: THE AWARD OF THE STRATEGIC TARGET PENSION PLAN TO THAT PROVIDES ACTUARIAL AND RELATED SUPPORT IN ACCORDANCE WITH THE PWS. Key points: 1. Contract awarded for actuarial and related support services. 2. Bolton Partners D.C., Inc. is the contractor. 3. The contract duration is 729 days. 4. The award was made by the Pension Benefit Guaranty Corporation. 5. The contract type is Firm Fixed Price. 6. This contract was not competed under SAP.

Value Assessment

Rating: fair

The contract value of $203,730 for 729 days of actuarial support appears to be within a reasonable range for specialized consulting services. However, without specific details on the scope of work and deliverables, a precise value-for-money assessment is challenging. Benchmarking against similar contracts for actuarial services would provide a clearer picture of whether the pricing is competitive. The firm fixed-price structure suggests that the contractor assumes the risk for cost overruns, which is generally favorable for the government.

Cost Per Unit: N/A

Competition Analysis

Competition Level: unknown

The contract was noted as 'NOT COMPETED UNDER SAP,' which suggests it may have been awarded under specific procurement regulations or exceptions that do not require full and open competition. The absence of competition details makes it difficult to assess the number of bidders or the process used to select Bolton Partners D.C., Inc. This lack of transparency in the procurement process raises questions about potential price discovery and whether the government secured the best possible pricing.

Taxpayer Impact: When contracts are not fully competed, taxpayers may not benefit from the competitive pricing that typically drives down costs. This can lead to higher expenditures for government services.

Public Impact

The Pension Benefit Guaranty Corporation (PBGC) will benefit from receiving actuarial and related support services. These services are crucial for the PBGC's mission of protecting retirement security for millions of Americans. The contract supports the administration and management of pension plans. The geographic impact is primarily within the PBGC's operational scope, likely supporting its Virginia-based operations or national responsibilities.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of competitive bidding raises concerns about optimal pricing.
Limited transparency in the procurement process hinders full assessment of value.
Specific deliverables and performance metrics are not detailed, making performance monitoring challenging.

Positive Signals

Firm Fixed Price contract structure shifts cost risk to the contractor.
Contract is for essential actuarial support, aligning with agency mission.
Contract duration provides stability for service delivery.

Sector Analysis

This contract falls within the professional, scientific, and technical services sector, specifically administrative management and general management consulting services (NAICS 541611). This sector is characterized by a wide range of specialized expertise, including financial analysis, actuarial services, and strategic planning. The market for actuarial services is typically dominated by a few large, specialized firms, but smaller niche players also exist. The PBGC's need for actuarial support is a recurring requirement for agencies managing pension plans.

Small Business Impact

There is no indication that this contract was set aside for small businesses, nor is there information regarding subcontracting plans. Given the specialized nature of actuarial services, it is possible that larger, established firms are typically awarded such contracts. Further analysis would be needed to determine if small businesses had an opportunity to participate in the bidding process or if subcontracting opportunities were made available.

Oversight & Accountability

Oversight of this contract would primarily fall under the Pension Benefit Guaranty Corporation's internal procurement and program management offices. As a purchase order, it may be subject to standard government contracting oversight procedures. Transparency regarding performance metrics, payment schedules, and any potential disputes would be key to assessing accountability. The specific Inspector General jurisdiction would likely be that of the PBGC's Office of Inspector General.

Related Government Programs

Actuarial Services
Pension Plan Administration
Financial Consulting Services
Government Contract Procurement

Risk Flags

Lack of competition
Limited transparency in award process
Unclear scope of work without PWS

Frequently Asked Questions

What is this federal contract paying for?

Pension Benefit Guaranty Corporation awarded $203,730 to BOLTON PARTNERS D.C., INC.. THE AWARD OF THE STRATEGIC TARGET PENSION PLAN TO THAT PROVIDES ACTUARIAL AND RELATED SUPPORT IN ACCORDANCE WITH THE PWS.

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 $203,730.

What is the period of performance?

Start: 2025-01-22. End: 2027-01-21.

What is the specific scope of work for the actuarial and related support services being provided under this contract?

The provided data indicates the contract is for 'ACTUARIAL AND RELATED SUPPORT IN ACCORDANCE WITH THE PWS.' A Performance Work Statement (PWS) would detail the specific tasks, deliverables, and standards expected from Bolton Partners D.C., Inc. This could include services such as calculating pension liabilities, assessing funding levels, performing risk analysis, and providing advice on plan design and regulatory compliance. Without the PWS, the precise nature and extent of the services remain undefined, making a thorough evaluation of the contract's necessity and value difficult.

How does the $203,730 contract value compare to similar actuarial support contracts awarded by the PBGC or other federal agencies?

Benchmarking this $203,730 contract against similar actuarial support contracts is challenging without access to a comprehensive database of federal procurements with detailed scope and pricing. However, for a 729-day (approximately 2-year) contract, this value suggests a focused scope of work rather than a comprehensive, long-term actuarial overhaul. Agencies often procure actuarial services on an as-needed basis or for specific plan types. A comparison would ideally look at contracts for similar-sized pension plans or specific actuarial functions (e.g., valuation, compliance testing) to determine if the pricing is competitive within the market for specialized actuarial consulting.

What are the potential risks associated with awarding this contract without full and open competition?

Awarding contracts without full and open competition, as suggested by 'NOT COMPETED UNDER SAP,' carries several potential risks. Primarily, it limits the government's ability to ensure it is receiving the best possible price, as competition typically drives down costs. There's also a risk of reduced innovation and quality, as contractors may have less incentive to outperform if they are the sole or primary provider. Furthermore, a lack of transparency in the procurement process can lead to perceptions of favoritism or inefficiency, potentially eroding public trust and taxpayer confidence in government spending.

What is Bolton Partners D.C., Inc.'s track record with federal contracts, particularly with the Pension Benefit Guaranty Corporation?

Information regarding Bolton Partners D.C., Inc.'s specific track record with federal contracts, especially with the Pension Benefit Guaranty Corporation (PBGC), is not detailed in the provided data. A thorough assessment would require searching federal procurement databases (like SAM.gov or FPDS) for past awards, performance reviews, and any reported issues. Understanding their history of delivering similar services, adherence to timelines, and overall client satisfaction would be crucial for evaluating their capability and reliability for this current contract.

How does the duration of the contract (729 days) align with the typical needs for actuarial support services at the PBGC?

The 729-day duration, approximately two years, suggests that this contract is intended to cover a significant period of ongoing actuarial support. Pension Benefit Guaranty Corporation (PBGC) often requires continuous actuarial services for plan valuations, compliance monitoring, and risk assessments. A two-year term allows for consistent service delivery and relationship building, which can be beneficial for complex tasks. However, the specific need for this duration would depend on the PBGC's strategic planning, the lifecycle of the pension plans they oversee, and any anticipated changes in regulations or economic conditions that might necessitate frequent actuarial reviews.

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) › PROFESSIONAL SERVICES

Competition & Pricing

Extent Competed: NOT COMPETED UNDER SAP

Solicitation Procedures: SIMPLIFIED ACQUISITION

Solicitation ID: 16PBGC24Q0055

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

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: $208,975

Exercised Options: $203,730

Current Obligation: $203,730

Actual Outlays: $198,626

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Timeline