The purpose of this modification is to close out this contract.
Ended Definitive Contract Awarded Last action
- Contract number
- PBGC01CT150006
- Awardee
-
State Street Corporation UEI ESYMEX6MH9K7
- Awarding agency
-
Pension Benefit Guaranty Corporation
- Obligated
- $32,893,852
Award facts
- Opportunity
-
- PBGC01RP140007 Solicitation number
- Custodian Banking Services Award Notice · Posted Feb 5, 2014
- Contract value 51% obligated
- $63,966,633.35 Current and potential, with all options
- Completion date 100% complete
- Current and potential, with all options
- Contracting staff
- NAICS code
- 523991 Trust, Fiduciary, and Custody Activities
- PSC
- R703 Support- Management: Accounting
- Set-aside
- No set-aside
- Competition
- Full and Open Competition · 3 offers Negotiated Proposal / Quote
- Pricing
- Firm Fixed Price
- Place of performance
- Washington, DC 20024, USA
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Close Out | $0 | |
| Funding Only Action | -$148,859 | |
| Funding Only Action | -$118,254 | |
| Funding Only Action | $400,000 | |
| Exercise an Option | $1,600,000 | |
| Other Administrative Action | $300,000 | |
| Funding Only Action | -$157,658 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Funding Only Action | $3,200,000 | |
| Exercise an Option | -$195,811 | |
| Funding Only Action | $3,000,000 | |
| Exercise an Option | $0 | |
| Funding Only Action | -$239,884 | |
| Funding Only Action | $200,000 | |
| Funding Only Action | $3,000,000 | |
| Supplemental Agreement for work within scope | $0 | |
| Supplemental Agreement for work within scope | -$240,000 | |
| Funding Only Action | $300,000 | |
| Exercise an Option | $0 | |
| Other Administrative Action | -$127,833 | |
| Funding Only Action | $500,000 | |
| Other Administrative Action | $0 | |
| Funding Only Action | $200,000 | |
| Funding Only Action | $3,000,000 | |
| Exercise an Option | $0 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | -$225,078 | |
| Supplemental Agreement for work within scope | $0 | |
| Funding Only Action | $3,700,000 | |
| Funding Only Action | -$300,000 | |
| Funding Only Action | -$300,000 | |
| Exercise an Option | $0 | |
| Funding Only Action | -$529,569 | |
| Funding Only Action | $3,500,000 | |
| Funding Only Action | -$128,146 | |
| Exercise an Option | $0 | |
| Supplemental Agreement for work within scope | $0 | |
| Funding Only Action | -$113,503 | |
| Funding Only Action | $3,500,000 | |
| Supplemental Agreement for work within scope | $0 | |
| Exercise an Option | $0 | |
| Funding Only Action | $400,000 | |
| Funding Only Action | $1,000,000 | |
| Funding Only Action | $1,000,000 | |
| Funding Only Action | $1,000,000 | |
| Exercise an Option | $0 | |
| Funding Only Action | $1,500,000 | |
| Other Administrative Action | $0 |
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About this award
The Pension Benefit Guaranty Corporation (PBGC) has closed out a Definitive Contract awarded to State Street Corporation on October 1, 2014, with an ultimate completion date of August 22, 2025. The contract, valued at approximately $64 million, was executed on a Firm Fixed Price basis without a set-aside designation through full and open competition. State Street Corporation, a Boston-based financial services firm, performed the work at its Washington, DC location. As a prominent provider of specialized financial services to federal agencies, State Street's Public Funds Division and subsidiaries have demonstrated extensive expertise in investment management and asset servicing for government entities.
This contract closeout reflects the completion of services provided by State Street to the PBGC, which operates the insurance program for private sector defined benefit pension plans covering millions of American workers and retirees. State Street has established itself as a critical financial services partner to the PBGC, with additional concurrent contracts including global master custody services for the agency's $68.1 billion Trust Fund and a Primary Paying Agent role responsible for disbursing approximately $5.8 billion in annual benefit payments to roughly 860,000 monthly recipients. The closure of this contract represents the conclusion of the company's obligations under this particular engagement with the civilian federal agency.
Quick answers
Who was awarded contract PBGC01CT150006?
PBGC01CT150006 was awarded to State Street Corporation by Pension Benefit Guaranty Corporation on October 1, 2014.
How much is contract PBGC01CT150006 worth?
The government has obligated $32,893,852 on PBGC01CT150006. Its current value, with exercised options, is $63,966,633.
Was contract PBGC01CT150006 competed?
The extent of competition for PBGC01CT150006 was full and open competition. The government received 3 offers.
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