State Dept. Awards $1.07M Actuarial Support Contract to TERRY CONSULTING LLC
Contract Overview
Contract Amount: $106,616 ($106.6K)
Contractor: Tterry Consulting LLC
Awarding Agency: Department of State
Start Date: 2025-06-09
End Date: 2026-06-08
Contract Duration: 364 days
Daily Burn Rate: $293/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: CHICAGO, COOK County, ILLINOIS, 60601
State: Illinois Government Spending
Plain-Language Summary
Department of State obligated $106,615.97 to TTERRY CONSULTING LLC for work described as: ACTUARIAL SUPPORT SERVICES Key points: 1. Contract Value: $1.07 million for actuarial support services. 2. Competition: Awarded under full and open competition. 3. Risk: Low risk identified due to firm fixed price and defined scope. 4. Sector: Administrative Management and General Management Consulting Services.
Value Assessment
Rating: good
The contract is a firm fixed price delivery order, which provides cost certainty. Benchmarking against similar actuarial support contracts is recommended to ensure optimal value.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through full and open competition, suggesting a competitive bidding process that should lead to fair market pricing. The firm fixed price contract type further supports price discovery.
Taxpayer Impact: The use of full and open competition is expected to yield a fair price, minimizing unnecessary taxpayer expenditure for these essential actuarial services.
Public Impact
Ensures continuity of essential actuarial services for the Department of State. Supports informed decision-making through expert analysis. Promotes fair pricing through competitive procurement.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Positive Signals
- Full and open competition utilized.
- Firm fixed price contract type.
- Clear delivery order structure.
Sector Analysis
This contract falls within the Administrative Management and General Management Consulting Services sector. Spending in this sector often involves specialized expertise for government operations and policy support.
Small Business Impact
The contract was not awarded to a small business. Further analysis could explore opportunities for small business participation in future procurements within this service category.
Oversight & Accountability
The delivery order structure under a larger contract allows for focused oversight of this specific service period. Regular performance reviews are crucial for accountability.
Related Government Programs
- Administrative Management and General Management Consulting Services
- Department of State Contracting
- Department of State Programs
Risk Flags
- Potential for vendor lock-in if not re-competed.
- Lack of small business participation.
Tags
administrative-management-and-general-ma, department-of-state, il, delivery-order, 100k-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of State awarded $106,615.97 to TTERRY CONSULTING LLC. ACTUARIAL SUPPORT SERVICES
Who is the contractor on this award?
The obligated recipient is TTERRY CONSULTING LLC.
Which agency awarded this contract?
Awarding agency: Department of State (Department of State).
What is the total obligated amount?
The obligated amount is $106,615.97.
What is the period of performance?
Start: 2025-06-09. End: 2026-06-08.
What is the benchmark cost for similar actuarial support services in the federal government?
Benchmarking actuarial support services requires detailed analysis of contract scope, duration, and required expertise. While specific data for this niche is not readily available, similar management consulting services under full and open competition typically range from $150-$300 per hour, depending on the complexity and seniority of the consultants involved. This contract's total value suggests a significant scope of work.
Are there any potential risks associated with relying on a single vendor for actuarial support?
While TERRY CONSULTING LLC was selected through full and open competition, long-term reliance on a single vendor can pose risks. These include potential price increases in future renewals, reduced incentive for innovation, and vendor lock-in. Mitigating these risks involves regular market research and considering competitive re-procurement strategies.
How effectively does this contract support the Department of State's core mission objectives?
Actuarial support is crucial for financial planning, risk assessment, and resource management within the Department of State, particularly concerning employee benefits, pensions, and insurance liabilities. This contract ensures access to specialized expertise necessary for sound financial stewardship and operational continuity, directly supporting the department's ability to manage its workforce and financial obligations effectively.
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: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Solicitation ID: 19AQMM25Q0228
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 130 E RANDOLPH ST STE 2810, CHICAGO, IL, 60601
Business Categories: Category Business, Limited Liability Corporation, Small Business, Sole Proprietorship, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $106,616
Exercised Options: $106,616
Current Obligation: $106,616
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: 47QRAA19D005L
IDV Type: FSS
Timeline
Start Date: 2025-06-09
Current End Date: 2026-06-08
Potential End Date: 2026-06-08 00:00:00
Last Modified: 2026-04-07
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