Actuarial study of longevity risk to single-employer insurance program.
Ended Purchase Order Awarded Last action
- Contract number
- 16PBGC24P0022
- Awardee
-
Club Vita US LLC UEI TUDYX1F7MPP4
- Awarding agency
-
Pension Benefit Guaranty Corporation
- Obligated
- $150,000
Award facts
- Opportunity
-
- Longevity Risk Review Project Solicitation · 16PBGC24Q0050 · Posted Aug 15, 2024
- Contract value 100% obligated
- $150,000.00 Current and potential, with all options
- Completion date 100% complete
- Current and potential, with all options
- Contracting staff
- NAICS code
- 541612 Human Resources Consulting Services
- PSC
- B599 Special Studies/Analysis- Other
- Set-aside
- No set-aside
- Competition
- Competed under SAP · 6 offers Simplified Acquisition
- Pricing
- Firm Fixed Price
- Place of performance
- Hoboken, NJ 07030, USA
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Close Out | $0 | |
| Supplemental Agreement for work within scope | $0 | |
| Supplemental Agreement for work within scope | $0 | |
| Other Administrative Action | $0 | |
| Original award | $150,000 |
About this award
The Pension Benefit Guaranty Corporation (PBGC) awarded a $150,000 firm fixed-price purchase order to Club Vita US LLC on September 30, 2024, to conduct an actuarial study of longevity risk related to the PBGC's single-employer insurance program. Under this contract, Club Vita will analyze and assess the PBGC's longevity risk exposure by benchmarking the annuitant population mortality experience, reviewing historical mortality studies, evaluating mortality improvement trends, and quantifying the potential impact of various scenarios on future life expectancy. The contractor will develop tools and analytical frameworks to estimate how changes in longevity assumptions translate to changes in the PBGC's future pension liability, with work to be performed in Hoboken, New Jersey. This is an unrestricted commercial services engagement with no set-aside designation and a contract closeout ultimate completion date of December 29, 2025.
The PBGC, a self-financing federal agency that administers the insurance program for defined-benefit pension plans, sought this actuarial expertise to better understand and quantify the financial impact of longevity risk on its liabilities. The original solicitation, posted on August 15, 2024, required proposals by September 4, 2024, with evaluation based on price, relevant experience, past performance, and technical approach. Club Vita US LLC's selection reflects its technical capabilities in longevity analysis and actuarial modeling for insurance programs, enabling the PBGC to enhance its risk assessment and financial planning within its core mission of protecting pension benefits for American workers and retirees.
Quick answers
Who was awarded contract 16PBGC24P0022?
16PBGC24P0022 was awarded to Club Vita US LLC by Pension Benefit Guaranty Corporation on September 30, 2024.
How much is contract 16PBGC24P0022 worth?
The government has obligated $150,000 on 16PBGC24P0022.
Was contract 16PBGC24P0022 competed?
The extent of competition for 16PBGC24P0022 was competed under sap. The government received 6 offers.
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