HQ - 2022-NOV-08 - this requisition is for the 401(k) contract recompete. The contract ends 12/31/2023. This will be a 2-year base period with 4, 2-year option periods. Justification of the service
Active Definitive Contract Awarded Last action
- Contract number
- 2031JW24C00003
- Awardee
-
Charles Schwab & Co., Inc. UEI GY14NCSKDET9
- Awarding agency
-
Office of the Comptroller of the Currency
Department of the Treasury
- Obligated
- $29,004
Award facts
- Opportunity
-
- Synopsis of Proposed Contract Action – 401(k) Administration and Recordkeeping Services Pre-Solicitation · 2031JW23Q00029 · Posted Feb 6, 2023
- Contract value 7% obligated
-
- $29,003.50 Current, with exercised options
- $404,603.50 Potential, with all options
- Completion date 28% complete
-
- Current, with exercised options
- Potential, with all options
- Contracting staff
- NAICS code
- 523150 Investment Banking and Securities Intermediation
- PSC
- R710 Support- Management: Financial
- Set-aside
- No set-aside
- Competition
- Competed under SAP · 1 offer Simplified Acquisition
- Pricing
- Firm Fixed Price
- Place of performance
- San Francisco, CA 94105, USA
- Legislative mandates
-
- Service Contract Inventory FAR subpart 4.17
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Funding Only Action | -$81,397 | |
| Exercise an Option | $0 | |
| Original award | $110,400 |
About this award
The Office of the Comptroller of the Currency (OCC) awarded a 401(k) administration and recordkeeping services contract to Charles Schwab & Co., Inc. on January 1, 2024, with a ceiling value of $404,603.50. The contract structure includes a two-year base period followed by four optional two-year periods, extending through December 31, 2033. Services will be performed in San Francisco, California, and the contract was awarded as a definitive firm fixed-price agreement with no small business set-aside designation. This recompete solicitation, which originated as a pre-solicitation notice in February 2023, sought to replace existing 401(k) administration services for the OCC's retirement plans covering both current and retired employees.
The solicitation was issued under FAR Part 12 and subpart 13.5 commercial item procedures, with evaluation criteria designed to promote maximum practicable competition. Charles Schwab & Co., Inc. will provide comprehensive 401(k) plan administration, recordkeeping, and related services identified under NAICS code 523150 (investment banking and securities intermediation services). The OCC, a bureau of the Department of the Treasury responsible for regulating national banks and federal savings associations, requires these retirement plan management services to support its workforce benefits administration and regulatory operations.
Quick answers
Who was awarded contract 2031JW24C00003?
2031JW24C00003 was awarded to Charles Schwab & Co., Inc. by Office of the Comptroller of the Currency (Department of the Treasury) on January 1, 2024.
How much is contract 2031JW24C00003 worth?
The government has obligated $29,004 on 2031JW24C00003. Its potential value, with all options, is $404,604.
Was contract 2031JW24C00003 competed?
The extent of competition for 2031JW24C00003 was competed under sap. The government received 1 offer.
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