SEC supplemental benefits plan (SBP)
Ended Definitive Contract Awarded Last action
- Contract number
- 50310220C0045
- Awardee
-
Metropolitan Life Insurance Co UEI XN1CSKV5KNR8 Part of Metlife, Inc.
- Awarding agency
-
Securities and Exchange Commission
- Obligated
- $38,569,235
Award facts
- Contract value 100% obligated
- $38,569,235.17 Current and potential, with all options
- Completion date 100% complete
- Current and potential, with all options
- Contracting staff
- NAICS code
- 524114 Direct Health and Medical Insurance Carriers
- Set-aside
- No set-aside
- Competition
- Full and Open Competition · 1 offer Negotiated Proposal / Quote
- Pricing
- Firm Fixed Price
- Place of performance
- Bridgewater, NJ 08807, USA
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Other Administrative Action | -$1,433,153 | |
| Other Administrative Action | -$352,136 | |
| Other Administrative Action | $0 | |
| Supplemental Agreement for work within scope | -$599,308 | |
| Exercise an Option | $9,634,008 | |
| Funding Only Action | -$651,278 | |
| Exercise an Option | $8,987,141 | |
| Other Administrative Action | -$537,997 | |
| Exercise an Option | $8,387,105 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Exercise an Option | $7,827,107 | |
| Original award | $7,307,745 |
Show all 14
About this award
The Securities and Exchange Commission awarded a $38.6 million definitive contract to Metropolitan Life Insurance Co. for administration of a Supplemental Benefits Plan on January 1, 2021, under a firm fixed-price structure with no set-aside.
Place of performance is Bridgewater, NJ. The contract's ultimate completion date is July 22, 2026.
Service Contract Inventory reporting shows the contract has grown in labor intensity over time. In FY2025, the most recent reported year, MetLife invoiced $9.2 million across 6.9 FTEs and 14,421 contractor hours, representing a blended government-paid rate of $638.37 per hour. The contract engaged 2 subcontractors in FY2025, accounting for 48 percent of contractor hours. Invoiced volume has trended upward from $5.5 million in FY2021 to $9.2 million in FY2025, while the derived hourly rate remained roughly flat across the reporting period.
Quick answers
Who was awarded contract 50310220C0045?
50310220C0045 was awarded to Metropolitan Life Insurance Co by Securities and Exchange Commission on January 1, 2021.
How much is contract 50310220C0045 worth?
The government has obligated $38,569,235 on 50310220C0045.
Was contract 50310220C0045 competed?
The extent of competition for 50310220C0045 was full and open competition. The government received 1 offer.
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