16PBGC-24-Q-0028 - Final.pdf

RFQ IFB RFP

WOMEN-OWNED SMALL BUSINESS

(WOSB) ELIGIBLE UNDER THE WOMEN-OWNED

SOLICITATION/CONTRACT/ORDER FOR COMMERCIAL ITEMS

OFFEROR TO COMPLETE BLOCKS 12, 17, 23, 24, & 30

1. REQUISITION NUMBER PAGE OF

2. CONTRACT NO. 3. AWARD/EFFECTIVE

DATE

4. ORDER NUMBER 5. SOLICITATION NUMBER 6. SOLICITATION ISSUE

DATE

7. FOR SOLICITATION

INFORMATION CALL:

a. NAME b. TELEPHONE NUMBER (No collect calls)

8. OFFER DUE DATE/

LOCAL TIME

9. ISSUED BY

13b. RATING

14. METHOD OF SOLICITATION

CODE

15. DELIVER TO 16. ADMINISTERED BY CODE

18a. PAYMENT WILL BE MADE BY CODEFACILITY

CODE

CODE

TELEPHONE NO.

17b. CHECK IF REMITTANCE IS DIFFERENT AND PUT SUCH ADDRESS IN

OFFER

18b. SUBMIT INVOICES TO ADDRESS SHOWN IN BLOCK 18a UNLESS BLOCK

BELOW IS CHECKED

SEE ADDENDUM

19.

ITEM NO.

20.

SCHEDULE OF SUPPLIES/SERVICES

21.

QUANTITY

22.

UNIT

23.

UNIT PRICE

24.

AMOUNT

(Use Reverse and/or Attach Additional Sheets as Necessary)

25. ACCOUNTING AND APPROPRIATION DATA 26. TOTAL AWARD AMOUNT (For Govt. Use Only)

28. CONTRACTOR IS REQUIRED TO SIGN THIS DOCUMENT AND RETURN

DELIVER ALL ITEMS SET FORTH OR OTHERWISE IDENTIFIED ABOVE AND ON ANY

ADDITIONAL SHEETS SUBJECT TO THE TERMS AND CONDITIONS SPECIFIED

29. AWARD OF CONTRACT: REF.

DATED . YOUR OFFER ON SOLICITATION

(BLOCK 5), INCLUDING ANY ADDITIONS OR CHANGES WHICH ARE

SET FORTH HEREIN, IS ACCEPTED AS TO ITEMS:

30a. SIGNATURE OF OFFEROR/CONTRACTOR

30b. NAME AND TITLE OF SIGNER (Type or print) 30c. DATE SIGNED

31a. UNITED STATES OF AMERICA (SIGNATURE OF CONTRACTING OFFICER)

31b. NAME OF CONTRACTING OFFICER (Type or print) 31c. DATE SIGNED

AUTHORIZED FOR LOCAL REPRODUCTION

PREVIOUS EDITION IS NOT USABLE

STANDARD FORM 1449 (REV. 2/2012)

Prescribed by GSA - FAR (48 CFR) 53.212

COPIES TO ISSUING OFFICE. CONTRACTOR AGREES TO FURNISH AND

OFFER

13a. THIS CONTRACT IS A

RATED ORDER UNDER

DPAS (15 CFR 700)

11. DELIVERY FOR FOB DESTINA-

TION UNLESS BLOCK IS

MARKED

SEE SCHEDULE

12. DISCOUNT TERMS

ARE ARE NOT ATTACHED

ARE ARE NOT ATTACHED

27a. SOLICITATION INCORPORATES BY REFERENCE FAR 52.212-1, 52.212-4. FAR 52.212-3 AND 52.212-5 ARE ATTACHED. ADDENDA

27b. CONTRACT/PURCHASE ORDER INCORPORATES BY REFERENCE FAR 52.212-4. FAR 52.212-5 IS ATTACHED. ADDENDA

17a CONTRACTOR/

OFFEROR.

CODE

8 (A)

SIZE STANDARD:

NAICS:

% FOR:SET ASIDE:UNRESTRICTED OR

SERVICE-DISABLED

VETERAN-OWNED

SMALL BUSINESS

HUBZONE SMALL

BUSINESS

SMALL BUSINESS

10. THIS ACQUISITION IS

EDWOSB

SMALL BUSINESS PROGRAM

RQ-32-24-000029

16PBGC24Q0028

Rudy Baldus

10:00 AM ET

PD

PENSION BENEFIT GUARANTY CORP

PROCUREMENT DEPARTMENT

445 12th St. SW

WASHINGTON DC 20024-2101 541611

WSD

PENSION BENEFIT GUARANTY CORPORATION

WORKPLACE SOLUTIONS DEPARTMENT

445 12th St. SW

WASHINGTON DC 20024-2101

see continuation page for line item details.

See Schedule

JUN 20, 2024

Please

STANDARD FORM 1449 (REV. 2/2012) BACK

19.

ITEM NO.

20.

SCHEDULE OF SUPPLIES/SERVICES

21.

QUANTITY

22.

UNIT

23.

UNIT PRICE

24.

AMOUNT

32a. QUANTITY IN COLUMN 21 HAS BEEN

RECEIVED INSPECTED ACCEPTED, AND CONFORMS TO THE CONTRACT, EXCEPT AS NOTED:

41a. I CERTIFY THIS ACCOUNT IS CORRECT AND PROPER FOR PAYMENT

32b. SIGNATURE OF AUTHORIZED GOVERNMENT

REPRESENTATIVE

32c. DATE

41b. SIGNATURE AND TITLE OF CERTIFYING OFFICER 41c. DATE

42a. RECEIVED BY (Print)

42b. RECEIVED AT (Location)

42c. DATE REC'D (YY/MM/DD) 42d. TOTAL CONTAINERS

40. PAID BY

32d. PRINTED NAME AND TITLE OF AUTHORIZED GOVERNMENT

REPRESENTATIVE

32e. MAILING ADDRESS OF AUTHORIZED GOVERNMENT REPRESENTATIVE 32f. TELPHONE NUMBER OF AUTHORZED GOVERNMENT REPRESENTATIVE

32g. E-MAIL OF AUTHORIZED GOVERNMENT REPRESENTATIVE

33. SHIP NUMBER 34. VOUCHER NUMBER 35. AMOUNT VERIFIED

CORRECT FOR

PARTIAL FINAL

37. CHECK NUMBER

38. S/R ACCOUNT NO. 39. S/R VOUCHER NUMBER

36. PAYMENT

COMPLETE PARTIAL FINAL

16PBGC24Q0028

SCHEDULE Continued

ITEM NO. SUPPLIES/SERVICES QUANTITY UNIT UNIT PRICE AMOUNT

0001 PR NUMBER: RQ-32-24-000030 1.00 EA

PAGE 3 OF 58 16PBGC24Q0028

Table of Contents

Sections 1 - 5

52.252-2 CLAUSES INCORPORATED BY REFERENCE (FEB 1998)

52.212-4CONTRACT TERMS AND CONDITIONS--COMMERCIAL PRODUCTS AND COMMERCIAL SERVICES (NOV 2023)

52.212-5CONTRACT TERMS AND CONDITIONS REQUIRED TO IMPLEMENT STATUTES OR EXECUTIVE ORDERS--COMMERCIAL

PRODUCTS AND COMMERCIAL SERVICES (FEB 2024)

52.217-8 OPTION TO EXTEND SERVICES (NOV 1999)

PBGC 52.201-7000 CONTRACTING OFFICER'S REPRESENTATIVE (JAN 2012)

PBGC 52.204-7000 RECORDS MANAGEMENT (FEB 2024)

PBGC 52.207-7001CONTRACTOR TELEWORK (MAY 2020)

PBGC 52.209-7001 ORGANIZATIONAL CONFLICTS OF INTEREST (AUG 2017)

PBGC 52.209-7002 HANDLING PBGC DATA (MAY 2017)

PBGC 52.231-7000 OTHER DIRECT COSTS (MAY 2012)

PBGC 52.232-7009SUBMISSION OF ELECTRONIC INVOICING USING INVOICE PROCESSING PLATFORM (IPP) FOR TIME AND

MATERIAL, LABOR-HOURS, AND FIXED PRICE (FEB 2023)

PBGC 52.237-7000 KEY PERSONNEL (APR 2018)

PBGC 52.237-7001 EDUCATION AND EXPERIENCE QUALIFICATIONS (DEC 2014)

PBGC 52.237-7002 FITNESS DETERMINATION (JAN 2023)

PBGC 52.237-7004 TRAINING (MAR 2016)

PBGC 52.237-7005 INFORMATION SECURITY TRAINING (MAR 2020)

PBGC 52.237-7007PHYSICAL SECURITY (NOV 2023)

PBGC 52.239-7000 SECTION 508 ACCESSIBILITY STANDARDS (MAR 2020)

PBGC 52.239-7007Managed IT Services (SEP 2020)

PBGC 52.242-7000 POSTAWARD CONFERENCE (JAN 2023)

PBGC 52.246-7000 INSPECTION AND ACCEPTANCE OF DELIVERABLES (JAN 2012)

PBGC 52.247-7000 PACKAGING AND MARKING (JAN 2012)

52.252-1 SOLICITATION PROVISIONS INCORPORATED BY REFERENCE (FEB 1998)

52.204-5 WOMEN-OWNED BUSINESS (OTHER THAN SMALL BUSINESS) (OCT 2014)

52.204-7 SYSTEM FOR AWARD MANAGEMENT (OCT 2018)

52.204-13SYSTEM FOR AWARD MANAGEMENT MAINTENANCE (OCT 2018)

52.204-16COMMERCIAL AND GOVERNMENT ENTITY CODE REPORTING (AUG 2020)

52.204-20PREDECESSOR OF OFFEROR (AUG 2020)

52.204-24REPRESENTATION REGARDING CERTAIN TELECOMMUNICATIONS AND VIDEO SURVEILLANCE SERVICES OR EQUIPMENT

(NOV 2021)

52.204-25PROHIBITION ON CONTRACTING FOR CERTAIN TELECOMMUNICATIONS AND VIDEO SURVEILLANCE SERVICES OR

EQUIPMENT (NOV 2021)

52.204-26COVERED TELECOMMUNICATIONS EQUIPMENT OR SERVICES--REPRESENTATION (OCT 2020)

52.209-5CERTIFICATION REGARDING RESPONSIBILITY MATTERS (AUG 2020)

52.209-7 INFORMATION REGARDING RESPONSIBILITY MATTERS (OCT 2018)

52.209-11 REPRESENTATION BY CORPORATIONS REGARDING DELINQUENT TAX LIABILITY OR A FELONY CONVICTION UNDER

ANY FEDERAL LAW (FEB 2016)

52.212-3OFFEROR REPRESENTATIONS AND CERTIFICATIONS--COMMERCIAL PRODUCTS AND COMMERCIAL SERVICES (FEB

2024)

52.224-1 PRIVACY ACT NOTIFICATION (APR 1984)

52.239-1 PRIVACY OR SECURITY SAFEGUARDS (AUG 1996)

52.246-25 LIMITATION OF LIABILITY--SERVICES (FEB 1997)

PAGE 4 OF 58 16PBGC24Q0028

CLAUSES

Sections 1 - 5

PAGE 5 OF 58 16PBGC24Q0028

Commercial Solicita on FAR Part 13 in Conjunc on with FAR Part 12 Solicita on #: 16PBGC24Q0028

Contents Sec on 1: Summary & Schedule of Services

Sec on 2: Statement of Objec ves

Sec on 3: A achments and Exhibits

Sec on 4: Instruc ons to Quoters

Sec on 5: Evalua on & Basis for Award

PAGE 6 OF 58 16PBGC24Q0028

Commercial Solicita on FAR Part 13 in Conjunc on with FAR Part 12

Sec on 1: Summary & Schedule of Services

1.1 Introduc on

The Government an cipates this award will be a single Firm Fixed Price (FFP) purchase order established under FAR Part 13.3 in conjunc on with FAR Part 12.

The Contractor shall provide the required services, as defined in Sec on 2, of this Request for Quota on (RFQ). The associated North American Industry Classifica on System (NAICS) code is 541611. The government an cipates a period of performance of September 1, 2024 – February 28, 2025.

The Schedule Contractor shall complete the Pricing Schedule with the unit pricing and shall fill in the total price for all CLINs.

1.2 Pricing Schedule

Period of Performance: 9/1/24 – 2/28/25

CLIN CLIN Title Unit Quan ty Unit Price Extended Price

0001 PIMS Peer Review – Support Services in accordance with Sec on 2: Statement of Objec ves

Months 6 To Be Quoted To Be Quoted

0002 Travel Not to Exceed (NTE) $3,000 Base Period Total

PAGE 7 OF 58 16PBGC24Q0028

Sec on 2: Statement of Objec ves

The Pension Insurance Modeling System (PIMS) Independent Peer Review – Parallel Tes ng and Reconcilia on

Background:

The Moving Ahead for Progress in the 21st Century Act (MAP-21, Pub. L. No. 112-141) was enacted on July 6, 2012. Sec on 40233(a) of MAP-21 requires the Pension Benefit Guaranty Corpora on (PBGC) to contract with a capable agency or organiza on that is independent of PBGC to conduct annual peer reviews of the Single-Employer (SE) Pension Insurance Modeling System (PIMS) and Mul employer (ME) PIMS. In prac ce, comprehensive reviews are conducted at least once every 5 years with targeted, more limited, reviews conducted in interim years. The focus of this Statement of Objec ves (SOO) is in regard to a targeted review of SE PIMS to be conducted in 2024.

The PIMS models are used to develop PBGC’s annual Projec ons Report, a 10-year projec on of the financial posi on of each of PBGC’s two insurance programs – the Single-Employer Program and the Mul employer Program. PBGC also uses these forecas ng models to analyze the poten al effects of legisla ve proposals that impact private sector defined benefit plans and the insurance programs, as well as for addi onal budge ng and analysis internal to PBGC.

PBGC is currently engaged in a mul -year effort to update and modernize both the SE and ME PIMS models where the new models are referred to as “Transforma onal PIMS,” or “T-PIMS” and for purposes of this SOO, the current models are referred to as “Legacy PIMS.” The new T-PIMS models will provide more modeling flexibility and will use more sophis cated modeling techniques than the current legacy models.

Purpose of Procurement:

In order to promote a seamless transi on to the new models, both the Legacy and T-PIMS models will be run in parallel each year over a consecu ve 3-year period and Annual Projec ons Report results produced by the two models will be compared, analyzed, and reconciled. SE T-PIMS is scheduled to be released during 2024 and ME T-PIMS is planned to be released during 2026. Parallel tes ng of SE T-PIMS will begin in 2024 whereas parallel tes ng of ME T-PIMS is planned for 2026. The purpose of this peer review is to provide analysis and recommenda ons in connec on with the parallel tes ng of SE T-PIMS, as set forth in detail below. Although the scope of this peer review focuses primarily on the reconcilia on of the SE models, the procedures, findings, and recommenda ons will be applied to the future reconcilia on of the ME models. Parallel tes ng of ME T-PIMS is not a part of this peer review.

Scope of Procurement:

PBGC is seeking Contractor tes ng support in connec on with two of the three years of SE PIMS parallel opera ons, which will both be conducted during the 6-month period of this project beginning in October 2024 and ending in April 2025. The two years of tes ng will encompass the SE-PIMS models used to develop projec ons for the FY 2022 and FY 2023 Projec ons Reports. The results from the Legacy PIMS models will be used in both reports. However, the Contractor shall review the results produced by each

PAGE 8 OF 58 16PBGC24Q0028

model, iden fying and reconciling any material differences which may be associated with model differences on inputs, assump ons, or methodologies. Addi onally, the Contractor shall iden fy any necessary or recommended changes to T-PIMS based on the analysis.

The ini al release of the SE T-PIMS model is expected prior to the start of this engagement. Prior to the ini al release of the model, PBGC will have already conducted its own parallel tes ng and analysis of the FY 2022 model results, with support from the contractor team suppor ng the T-PIMS development.

Consequently, the reconcilia on analysis of the FY 2022 model results under this engagement will encompass a review and any required follow-up analysis of the tes ng and reconcilia on completed by PBGC in early 2024 rather than a de novo reconcilia on analysis from scratch. However, PBGC expects that the reconcilia on of the FY 2023 model results under this engagement will be fully developed from scratch by the Contractor.

As men oned above, a primary use of the PIMS models is to prepare PBGC’s Annual Projec ons Report, a projec on of the financial posi on of PBGC’s SE and ME insurance programs as well as to provide analysis of the effects of poten al policy changes. PIMS results used to prepare the Annual Projec ons Reports for a given fiscal year, which are typically released in the middle (May-August) of the subsequent calendar year. As an example, the most recently issued report is the Fiscal Year 2022 Annual Projec ons Report, which was issued in August 2023 and based on informa on made available from Legacy PIMS in May 2023. Similarly, PBGC an cipates that the Legacy PIMS results used for purposes of the FY 2023 Annual Projec ons Report will be available in mid-2024, and that comprehensive parallel tes ng can begin at that me. It is an cipated that the full transi on from Legacy PIMS to T-PIMS as the primary model for purposes of the Single-Employer Program results in the Projec ons Report will be completed effec ve with Fiscal Year 2024. The below table summarizes the an cipated transi on schedule:

Scheduled Transi on and Parallel Tes ng: SE Legacy PIMS vs. T-PIMS

Results Prepared in Calendar Year

For Fiscal Year

Legacy SE PIMS SE T-PIMS

Peer Review Contractor Analysis

Comments

2023/2024 2022 Primary (2023) Run in Parallel Only (2024) Yes

Parallel tes ng analysis will have been conducted by PBGC in early 2024;

Contractor to review this work and conduct any necessary follow-up analysis

2024 2023 Primary (2024) Run in Parallel Only (2024) Yes

Contractor to lead and develop this tes ng from scratch; results required for parallel tes ng expected to be available in mid- 2024

2025 2024 Run In Parallel Only (2025) Primary (2025) No

Not part of this peer review: PBGC to perform FY 2024 parallel tes ng informed by the findings developed during this peer review

PAGE 9 OF 58 16PBGC24Q0028

The above table shows that this peer review project relates to two of the three years of Legacy PIMS vs.

T-PIMS parallel tes ng.

Performance Objec ves:

The Contractor’s review will achieve the following specific objec ves:

Objec ve #1: Iden fy any material differences in the model outputs produced by the SE Legacy PIMS and T-PIMS models, for both the FY 2022 and FY 2023 model versions. The model outputs to analyze include, but are not limited to, the elements listed in the table below.

Objec ve #2: Determine whether the material differences iden fied in Objec ve #1 are reasonable, in both direc on and magnitude, based on differences in model calcula on methods, or whether the differences are a ributable to model errors that need to be resolved.

Objec ve #3: Assess whether the results of the overall reconcilia on analysis reasonably support the use and reliance of the SE T-PIMS model, or whether there are cri cal variances that must first be resolved prior to its official use.

Objec ve #4: Summarize findings and provide recommenda ons on how PBGC should address those findings and how PBGC should test the ME Legacy and T-PIMS model results based on the results of the review.

It is important to note that the analysis of any differences in model outputs should check for consistency with approved T-PIMS specifica ons. Evalua ng the currently approved calcula on methods and outlining detailed alterna ve approaches is outside the scope of this review. Given the complexi es and sophis ca on of both the Legacy and T-PIMS models, it is expected that the Contractor will have access to PBGC staff throughout the peer review process to collect data and understand the details and ra onale behind the models’ assump ons and methodologies. Although the scope of this review does not include an assessment of the approved T-PIMS calcula on methods, the Contractor is encouraged to provide high-level commentary and recommenda ons about alterna ve calcula on methods for PBGC considera on. The Contractor is expected to lead rou ne bi-weekly mee ngs to present observa ons as they unfold.

Throughout the peer review, the Contractor will be responsible for iden fying and reconciling all material differences between the SE Legacy and T-PIMS models. The determina on of which components/processes of the models will be the focus of the Contractor’s review will be based on the Contractor’s exper se and professional experience. That said, PBGC has iden fied the below material items, which in addi on to any other items iden fied by the Contractor, must, at a minimum be reconciled:

PBGC Iden fied Elements To Be Tested and Reconciled

PAGE 10 OF 58 16PBGC24Q0028

Variable, Metric, Result Comments PBGC SE Program Assets, Liabili es and Net Posi on

Hedging and non-hedging assets tested separately and in total

PBGC SE Program Claims PBGC SE Program Cash Flows (Benefit Payments, Premiums and Expenses)

Flat Rate and Variable Rate premiums tested separately and in total

PBGC SE Program Investment Returns Both Rate of Return and Dollar Return PBGC SE Program Single Equivalent Liability Interest Rate

SE Plan Assets Both Market and Actuarial Values

SE Plan Liabili es Funding Target, Premium Funding Target, ERISA Title 4

SE Plan Target Normal Cost, Benefit Payments and Expenses

SE Plan Investment Returns Both Rate of Return and Dollar Return SE Plan Minimum Contribu ons and any Assumed Excess Contribu ons

SE Plan Par cipant Counts Ac ves, Re rees and Deferred Vested, separately and in total

SE Plan Premiums, Premium Cap “Flag,” if applicable

Flat Rate and Variable Rate premiums tested separately and in total

SE Plan “flag” for Standard Termina on or Annuity Purchase,” if applicable

SE Plan specific Single Equivalent Liability Interest Rate

SE Plan Bankruptcy Rate SE Plan Claims

Both the Legacy PIMS and T-PIMS models consist of determinis c and stochas c projec on methodologies and much of the results from the models are communicated using probabilis c measures, such as the mean, median, and various percen les of the distribu onal outputs. Therefore, the above-noted variables, metrics and results are to primarily be analyzed in a probabilis c context. In other words, comparison of the results of one model versus the other should be based on a comparison of the sta s cal breakpoints (mean, median, percen les, and extreme tail events) and not based on every single economic scenario. The applicable percen les to be included in the analysis are the 1st, 15th, 50th, 85th, and 99th percen les. In addi on, where applicable, tes ng should be done on Nominal as well as Present Value outputs.

Deliverables Over the course of the review, the Contractor will lead bi-weekly mee ngs with PBGC staff to discuss observa ons and ongoing results as they unfold. By the end of the fi h month of the review, the Contractor will prepare and submit an interim report summarizing the results of the analysis up to that point and upon comple on of the review, the Contractor will prepare and submit a final report

PAGE 11 OF 58 16PBGC24Q0028

summarizing the full results of the analysis. The interim report shall include Items 1, 2, and 3 below whereas the final report shall include all items 1 through 5, below:

1. A summary of the differences in the results produced by the SE Legacy and T-PIMS models, including but not limited to the elements shown in the table above.

2. Commentary about the nature of those differences. The commentary should address (a) the materiality of the differences; and (b) whether the differences are reasonable and a ributable to different inputs, assump ons and calcula on methods, or whether the differences are a ributable to model errors.

3. For each poten al issue iden fied in the review, the report should explain the nature of the concerns, assess the significance on overall results, and recommend PBGC ac on.

4. An assessment of whether the results of the overall reconcilia on analysis support the use and reliance of the SE T-PIMS model, or whether there are cri cal variances that must first be resolved prior to its official use.

5. A detailed set of recommenda ons on the reconcilia on process PBGC should use to test the ME Legacy and T-PIMS model results based on findings from the reconcilia on analysis of the SE model.

Both the interim and final reports should be divided into two parts: one sec on for the review of the FY 2022 reconcilia on analysis and another sec on for the development and analysis of the FY 2023 reconcilia on.

Key Personnel Minimum Qualifica ons

Collec vely, the quoted Key Personnel (including named sub-contractors, if any) must meet or exceed the following requirements:

a) The key personnel shall possess the training and experience necessary to iden fy and determine the root causes of differences in actuarially produced projec ons, developed by alterna ve models using different approaches, including: data sampling and grouping methods; assump on se ng (both economic and demographic);

projec on methodologies; and economic scenario genera on. In addi on, key personnel shall possess the training and experience necessary to ascertain the materiality of iden fied differences on overall results and recommend changes, if warranted.

b) At least one of the key personnel shall have 15+ years of actuarial experience including stochas c modeling experience.

c) The key personnel may include economists, data scien sts, sta s cians, creden aled financial analysts (minimum qualifica ons of Chartered Financial Analyst), and creden aled actuaries (minimum qualifica ons of Enrolled Actuary and Associate of the Society of Actuaries with 15+ years of pension experience.)

PAGE 12 OF 58 16PBGC24Q0028

d) Exper se in economic scenario generators is desirable.

Period and Place of Performance:

It is an cipated that this project will be awarded during the third Calendar quarter of 2024 and upon the comple on of the mandatory onboarding process, is expected to extend over a six-month period. Bi-weekly mee ngs will begin immediately upon comple on of the onboarding process. Contractor’s interim report is due within 5 months from the date onboarding is completed and the final report is due within 6 months from the date onboarding is completed.

All services are expected to be performed by Contractor, at Contractor’s place of business and all interac on with PBGC personnel is expected to be conducted virtually using electronic file sharing and mee ng technology (e.g. Microso Teams so ware).

Opera ng Constraints:

No specific constraints are set forth in this SOO beyond those s pulated in the terms and condi ons of the RFQ; however, important to note is that this project is commissioned by PBGC’s Board of Directors and the results of the review, including the interim and final reports, will ul mately be delivered and presented to the Board’s representa ves. Assistance from PBGC staff during the review process is solely to provide detailed informa on and ra onale behind the models’ data, assump ons and methodologies as well as field any ques ons so as to facilitate the Contractor’s review.

Suppor ng Informa on:

Addi onal informa on on SE-PIMS and ME-PIMS, including copies of recent PIMS Peer Review reports and detailed descrip ons of the model, can be found at the following link:

h ps://www.pbgc.gov/about/projec ons-report/pension-insurance-modeling-system

PAGE 13 OF 58 16PBGC24Q0028

Sec on 3: A achments and Exhibits Insert the list of A achments and Exhibits

A achment 1 Pricing Schedule Worksheet A achment 2 Performance Work Statement (PWS) Template A achment 3 Solicita on Ques ons Template

PAGE 14 OF 58 16PBGC24Q0028

Sec on 4: Instruc ons to Quoters

4.1 Commitment of the Government

This solicitation does not commit the Government to award a purchase order.

4.2 Communica ons

All communica ons concerning the Request for Quote (RFQ) including any of a technical nature, shall be made by email to Contrac ng Officer (CO), Rudy Baldus, at baldus.carl@pbgc.gov, and the Contract Specialist (CS), Fierro Jeffery, at jeffery.fierro@pbgc.gov. All ques ons, technical or otherwise, in response to this solicita on shall be in wri ng using the solicita on’s A achment 3 template and shall be received by the Government on or before June 13, 2024 at 9:00 am Eastern Time. Ques ons shall iden fy the applicable sec on, page number and paragraph. The Government will provide a list of all ques ons received with the Government responses in the form of an amendment to the RFQ. The Government may not consider ques ons received a er this date. Quoters are warned against contac ng any PBGC personnel outside of the Procurement Department regarding this solicita on prior to the award of a purchase order. If such contact occurs and is determined by the Contrac ng Officer to be prejudicial to compe ng Quoters, the Contrac ng Officer may exclude the Quoter from compe on.

4.3 Quote Submission Due Date and Time

Furnish the quote into two (2) separate volumes that address the requirements. Technical Quote (Volume 1) and Price Quote (Volume 2) in a Microso Office Compa ble or Adobe format are due by email on or before June 20, 2024 at 10:00 am Eastern Time.

4.4 Quotation Compliance Check

Submit a quotation following the instructions and addressing the evaluation factors listed in this RFQ. All quotations will be evaluated preliminarily to ensure compliance with the requirements set forth in this solicitation, which include timely receipt of the quotation. FAILURE TO FOLLOW

THE INSTRUCTIONS MAY RESULT IN THE QUOTE BEING FOUND NON-COMPLIANT AND

INELIGIBLE FOR FURTHER EVALUATION OR AWARD.

SAM registration must be active at the time of the quotation submission.

4.5 Quota on Prepara on Instruc ons – General

a. The Quote shall conform to the RFQ’s clauses and provisions and be prepared in accordance with this sec on.

b. Quote shall be clearly marked with the RFQ’s number and tle. Submit a complete quote

PAGE 15 OF 58 16PBGC24Q0028

in Microso Office and Adobe compa ble file by email.

c. Prepare a Cross-Reference Matrix cross referencing all RFQ requirements to the loca on of the responses in your quota on. Any choice of format for the Matrix is acceptable and the Matrix is not counted in the page limit.

d. Quote shall be submi ed in electronic format, and must be clearly and concisely wri en, neat, indexed, and logically assembled. The Quote shall be prepared in two separate volumes: Volume 1. Technical Quote and Volume 2. Price Quote. Evalua on of each volume will be conducted independently. Therefore, if the required content is not present in the volume being evaluated, it will not be considered.

e. Cover Le er and Table of Contents

i. A cover le er shall accompany Volume I of the quote to set forth any informa on that the Quoter wishes to bring to the a en on of the Government.

The following introductory informa on is required in the Cover Le er of Volume I of the quote:

1. RFQ Number 16PBGC24Q0028

2. NAICS code

3. Name and address of Quoter

4. Business size

5. Name, telephone number & email address of main point-of-contact

6. Name of your contract administra on office

7. Date of submission

8. Name, tle, and signature of authorized representa ve. The person signing the quote must have the authority to commit the Offeror to all the provisions of the quote, fully recognizing that the Government has the right, by terms of the solicita on, to make an award without further discussions.

9. UEI number and CAGE code

10. Name address, UEI number, and CAGE code for each of the proposed teaming partners.

11. The cover le er shall also s pulate that the Quoter’s quote is predicated upon all the terms and condi ons in this RFQ.

12. In addi on, the cover le er must contain a statement that the quote is valid for a period of 180 calendar days from the submission date of the quote.

13. Organiza onal Conflicts of Interest. Provide any disclosure/descrip on of the ac ons Contractor has taken, or proposes to take to avoid, mi gate, or neutralize the risk to the Government in case of a poten al conflict.

14. Excep ons – The Offeror shall include a statement that no excep ons have been taken to the terms and condi ons of this solicita on. If any excep ons have been taken, the excep ons must clearly be listed on the cover page in the price proposal.

f. Technical Quote (Volume 1) - General – The Technical Quote shall address the

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requirements outlined in this solicita on’s Sec on 2. The Technical Quote will be evaluated in accordance with the technical evalua on factors provided in this RFQ. The Quote shall be specific and complete in every detail. The Quote shall use the following format to assist in providing a fair and equitable evalua on of all quotes:

i. 8.5 by 11-inch size.

ii. 12 pitch print or larger, Times New Roman style font.

iii. Legible tables, charts, graphs, and figures shall be used wherever prac cal to depict organiza ons, systems and layout, implementa on schedules, plans, etc.

These displays shall be uncomplicated, legible, and shall not exceed 11 by 17 inches in size. For tables, charts, graphs and figures, the text shall be no smaller than 10-point Arial or Times New Roman.

iv. I-inch margin at the top, bo om and both sides of each page. All documents shall be in a Microso Office or Adobe-compa ble format. All pages shall be single spaced.

v. Every page sequen ally numbered.

vi. Organize the technical Quote to address the following evalua on factors: Factor

1— Key Personnel, Factor 2 – Technical Approach and Capabili es, Factor 3 – Management Approach, and Factor 4 – Corporate Experience.

g. Price Quote (Volume 2) – Price Quote shall include a completed A achment 1 (Pricing Worksheet) in Microso Excel format, which shall include a unit price for each CLIN, mul plied by the es mated quan ty per CLIN and sum of all CLINs per year.

h. The Quote shall adhere to the following page limits. Any pages more than the page limita ons will be disregarded and will not be included in the Quote evalua on.

Section Page Limit

Cover Letter Not counted in page limit.

Table of Contents Not counted in page limit.

Volume I: Technical Quote

30 pages maximum Cross-reference matrix is not included in the page count.

Appendix A: Key Personnel Resumes (limited to two pages per Key Personnel). Appendix A is not included in the Technical Volume page count.

The PWS is not included in the page count.

Volume II: Price Quote No page limit for the completed Attachment 1: Pricing Worksheet (Microsoft Excel format version of the pricing).

4.6 Technical Quote (Volume 1) Instruc ons

Technical Quotes are to be prepared in a format that will facilitate the evalua on. Accordingly, Quotes shall be structured in such a way as to address, separately, each of the evalua on factor specified below.

Factor 1: Key Personnel

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For any staff designated as Key, the Contractor shall provide resumes which clearly demonstrate the extent that the personnel meet or exceed the required minimum qualifica ons specified in this solicita on’s Sec on 2 (SOO). The contractor shall also provide project descrip ons detailing the similarity and relevance of the key personnels’ prior experience to the subject requirements.

Factor 2: Technical Approach & Performance Standards

The Quoter shall provide a technical approach that clearly demonstrates how the solicita on’s SOO will be met, including mee ng the required elements of the requested review, a detailed descrip on of the steps the Quoter would take to iden fy material system differences, evalua ng the reasonability of each material difference, evalua ng the significance of such differences on overall results, developing proposed alterna ves (if necessary), and developing the final report.

The Quoter shall dra and provide a Performance Work Statement (PWS) to accomplish the objec ves listed in the solicita on’s Sec on 2: Statement of Objec ves. The Quoter shall use this solicita on’s A achment 2: PWS Template to dra the PWS.

Factor 3: Management Approach

The Quoter shall provide a management approach that details:

a) The Quoter’s plan to successfully manage, perform, and execute the SOO’s requirements.

The plan shall detail the Quoter’s ability to manage and balance technical performance, me constraints, and (if applicable) the management of subcontractor personnel. The plan must detail how work will be accomplished in a logical sequence that will lead to successful performance.

b) A staffing plan that lists all quoted contractor personnel, their roles & responsibili es, and the availability of these personnel for the en rety of the project so that the project is completed on me and with high quality.

c) A Quality Control Plan (QCP) that demonstrates how quality, as outlined in the PWS’s performance standards, will be met.

Factor 4: Corporate Experience

The Quoter shall submit a summary of its work experience for projects with similar size, scope, and complexity to that listed in this solicita on’s SOO. “Similar” is defined as projects comparable in terms of such factors as dura on, dollar value, and types of services performed.

The Government is more interested in the similarity of the corporate experience examples to this solicita on’s SOO than the quan ty of examples.

4.7 Price Quote (Volume 2) Instruc ons

The quoter shall quote a price per contract line-item number (CLIN) and fill in the unit prices

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on the government provided excel spreadsheet located in A achment 1 —Pricing Worksheet of the solicita on. The spreadsheet will calculate the extended totals and grand total for each performance period. Unit prices shall include all direct and indirect costs associated with the item or other services not separately priced including profit. The unit rates will be included in any resul ng award.

For evalua on purposes only, the total evaluated price is the sum of the total prices submi ed for (a) the base period and (b) the six-month extension authorized by FAR clause 52.217-8. Since this PIMS peer review requirement is non-severable as it culminates in the final review report, the total price for the op onal six-month extension is calculated as $0. Accordingly, Quoters must include this pricing in their price quota ons regarding the exercise of FAR 52.217-8. The agency will include the pricing for 52.217-8 in its overall pricing evalua on. Evalua on of the six-month extension op on(s) will not obligate the Government to exercise the op on(s).

FAILURE TO PROVIDE PRICING FOR THE FAR 52.217-8 EXTENSION OF SERVICES CLAUSE MAY

RESULT IN THE QUOTE BEING FOUND EITHER NON-COMPLIANT OR TECHNICALLY

UNACCEPTABLE AND INELIGIBLE FOR FURTHER EVALUATION OR AWARD.

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Sec on 5: Evalua on & Basis for Award

5.1 Evalua on of Quotes – General

a. It is the Government's inten on to award one firm fixed price purchase order under FAR

Part 13.5 in conjunc on with FAR Part 12 to the Quote that is considered most advantageous to the Government based on a tradeoff method, considering the factors listed and price.

b. The Government will evaluate each Quote in accordance with the evalua on factors established by the Government prior to receipt of quotes. The technical evalua on will result in adjec val ra ngs by factor and overall. Price will not receive an adjec val ra ng. In the event a Quote receiving a ra ng of “Unacceptable” on any evalua on factor, that Quote will be ineligible for award.

c. The Government will analyze tradeoffs between price and non-price factors to result in the most advantageous Quote for the Government. The Government may determine to award to other than the lowest priced Quote, or to other than the highest technically rated Quote. If two or more quotes are considered technically equivalent, the evaluated price will be important in determining the Quote that is most advantageous to the Government.

5.2 Evalua on of Technical Quote (Volume 1)

Technical quotes will be evaluated on a tradeoff basis in accordance with the below factor. The evalua on factors are listed in descending order of importance. When technical factors are combined, they are significantly more important than price.

Factor 1: Key Personnel

The Government will evaluate the extent to which the Quoter’s key personnel’s resume meets or exceeds the minimum requirements listed in this solicita on’s Sec on 2.

Factor 2: Technical Approach & Performance Standards

The Government will evaluate the extent to which the Quoter’s technical approach is expected to meet or exceed the objec ves listed in the solicita on’s Sec on 2 (SOO).

Addi onally, the Government will evaluate the extent to which the quoter’s Performance Work Statement (PWS) and its performance standards meet or exceed the requirements in the SOO.

Factor 3: Management Approach

The Government will evaluate the extent to which the Quoter’s management approach demonstrates:

a) A strategy to successfully manage, perform, and execute the SOO’s requirements.

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b) A staffing plan that demonstrates contractor personnel assignments and the availability of these personnel for the en rety of the project.

c) A Quality Control Plan (QCP) that demonstrates quality oversight and how the Performance Work Statement’s performance standards will be achieved and maintained during performance.

Factor 4: Corporate Experience

The Government will evaluate the extent to which the Quoter’s previous experience with projects of a similar size, scope, and complexity demonstrate its capability to perform the requirements of this solicita on’s SOO. Specifically, when evalua ng scope, the Government will evaluate the Quoter’s experience performing stochas c forecas ng, gain/loss analysis, the projec on of interest rates, capital markets and bankruptcy or default rates, me-series sta s cal variables, and complex forecas ng models.

The Government will use a combined technical/risk ra ng which includes considera on of risk in conjunc on with the strengths, weaknesses, significant weaknesses, and deficiencies in determining technical ra ngs. See Table 1. Combined Technical/Risk Ra ng Method.

TABLE 1. COMBINED TECHNICAL / RISK RATING METHOD

Adjec val Ra ng Descrip on Outstanding Proposal/quote indicates an excep onal approach and understanding of the requirements and contains mul ple strengths, and risk of unsuccessful performance is low.

Good Proposal/quote indicates a thorough approach and understanding of the requirements and contains at least one strength, and risk of unsuccessful performance is low to moderate.

Acceptable Proposal/quote meets requirements and indicates an adequate approach and understanding of the requirements, and risk of unsuccessful performance is no worse than moderate.

Marginal Proposal/quote has not demonstrated an adequate approach and understanding of the requirements, and/or risk of unsuccessful performance is high.

Unacceptable Proposal/quote does not meet requirements of the solicita on, and thus, contains one or more deficiencies, and/or risk of unsuccessful performance is unacceptable. Proposal is un-awardable.

TABLE 2. TECHNICAL RISK RATING METHOD

Adjec val Ra ng Descrip on

Low

The quota on/proposal may contain weakness(es) which have li le poten al to cause disrup on of schedule, increased cost, or degrada on of performance. Normal contractor effort and normal Government monitoring will likely be able to overcome any difficul es.

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Moderate

The quota on/proposal contains a significant weakness or combina on of weaknesses which may poten ally cause disrup on of schedule, increased cost or degrada on of performance. Special contractor emphasis and close Government monitoring will likely be able to overcome difficul es.

High

The quota on/proposal contains a significant weakness or combina on of weaknesses which is likely to cause significant disrup on of schedule, increased cost or degrada on of performance. Is unlikely to overcome any difficul es, even with special contractor emphasis and close Government monitoring.

Unacceptable The quota on/proposal contains a material failure or a combina on of significant weaknesses that increases the risk of unsuccessful performance to an unacceptable level.

Defini ons: For the purpose of documen ng strengths and weaknesses, the following defini ons are to be used.

Strength - Strength is an aspect of a proposal/quote that has merit or exceeds specified performance or capability requirements in a way that will be advantageous to the Government during contract performance.

Weakness - means a flaw in the proposal/quote that increases the risk of unsuccessful contract performance.

Significant Weakness - in the proposal/quote is a flaw that appreciably increases the risk of unsuccessful contract performance.

Deficiency - is a material failure of a proposal/quote to meet a Government requirement or a combina on of significant weaknesses in a proposal that increases the risk of unsuccessful contract performance to an unacceptable level.

5.3 Evalua on or Price Quote (Volume 2)

The Price Quote in A achment 1 will be evaluated using techniques included in FAR 13.106- 3(a)(1-3). The government will evaluate the sum of the total prices submi ed for (a) the base period and (b) the six-month extension authorized by FAR clause 52.217-8. For purposes of determining the total price for the six-month extension authorized by FAR 52.217-8, the total price is calculated as $0. Accordingly, Quoters must include pricing in their price quotes regarding the exercise of FAR 52.217-8. The agency will include the pricing for 52.217-8 in its overall pricing evalua on. Evalua on of the six-month extension op on(s) will not obligate the Government to exercise the op on(s).

5.4 Amendment(s) to Quotes

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The government reserves the right to make award without discussions, however, if discussions are held, changes to the Quote by the Quoter shall be accomplished by amended page(s).

Changes from the original page shall be indicated by a ver cal line, adjacent to the change, on the right margin of the page. The Quoter shall include the date of the amendment on the lower right-hand edge of the page as well as the amendment number that caused the change.

5.5 Basis for Award

The Government will make award to the responsive, responsible contractor whose Quote is the best value to the Government based on tradeoffs. The Government reserves the right to make no award, as a result of this RFQ.

The Government will analyze tradeoffs between price and non-price factors to result in the most advantageous Quote for the Government. The Government may determine to award to other than the lowest priced Quote, or to other than the highest technically rated Quote. If two or more quotes are considered technically equivalent, the evaluated price will be important in determining the Quote that is most advantageous to the Government.

52.252-2 CLAUSES INCORPORATED BY REFERENCE (FEB 1998)

This contract incorporates one or more clauses by reference, with the same force and effect as if they were given in full text. Upon request, the Contracting Officer will make their full text available. Also, the full text of a clause may be accessed electronically at this/these address(es):

Acquisition.gov

(End of Clause)

52.212-4 CONTRACT TERMS AND CONDITIONS--COMMERCIAL PRODUCTS AND COMMERCIAL SERVICES (NOV 2023)

(a) Inspection/Acceptance. The Contractor shall only tender for acceptance those items that conform to the requirements of this contract. The Government reserves the right to inspect or test any supplies or services that have been tendered for acceptance. The Government may require repair or replacement of nonconforming supplies or reperformance of nonconforming services at no increase in contract price. If repair/replacement or reperformance will not correct the defects or is not possible, the Government may seek an equitable price reduction or adequate consideration for acceptance of nonconforming supplies or services. The Government must exercise its post-acceptance rights--

(1) Within a reasonable time after the defect was discovered or should have been discovered; and

(2) Before any substantial change occurs in the condition of the item, unless the change is due to the defect in the item.

(b) Assignment. The Contractor or its assignee may assign its rights to receive payment due as a result of performance of this contract to a bank, trust company, or other financing institution, including any Federal lending agency in accordance with the Assignment of Claims Act (31 U.S.C.

3727). However, when a third party makes payment (e.g., use of the Governmentwide commercial purchase card), the Contractor may not assign its rights to receive payment under this contract.

(c) Changes. Changes in the terms and conditions of this contract may be made only by written agreement of the parties.

(d) Disputes. This contract is subject to 41 U.S.C. chapter 71, Contract Disputes. Failure of the parties to this contract to reach agreement on any request for equitable adjustment, claim, appeal or action arising under or relating to this contract shall be a dispute to be resolved in accordance with the clause at Federal Acquisition Regulation (FAR) 52.233-1, Disputes, which is incorporated herein by reference. The Contractor shall proceed diligently with performance of this contract, pending final resolution of any dispute arising under the contract.

(e) Definitions. The clause at FAR 52.202-1, Definitions, is incorporated herein by reference.

(f) Excusable delays. The Contractor shall be liable for default unless nonperformance is caused by an occurrence beyond the reasonable control of the Contractor and without its fault or negligence such as, acts of God or the public enemy, acts of the Government in either its sovereign or contractual capacity, fires, floods, epidemics, quarantine restrictions, strikes, unusually severe weather, and delays of common carriers. The Contractor shall notify the Contracting Officer in writing as soon as it is reasonably possible after the commencement of any excusable delay, setting forth the full particulars in connection therewith, shall remedy such occurrence with all reasonable dispatch, and shall promptly give written notice to the Contracting Officer of the cessation of such occurrence.

(g) Invoice.

(1) The Contractor shall submit an original invoice and three copies (or electronic invoice, if authorized) to the address designated in the contract to receive invoices. An invoice must include--

(i) Name and address of the Contractor;

(ii) Invoice date and number;

(iii) Contract number, line item number and, if applicable, the order number;

(iv) Description, quantity, unit of measure, unit price and extended price of the items delivered;

(v) Shipping number and date of shipment, including the bill of lading number and weight of shipment if shipped on Government bill of lading;

(vi) Terms of any discount for prompt payment offered;

(vii) Name and address of official to whom payment is to be sent;

(viii) Name, title, and phone number of person to notify in event of defective invoice; and

(ix) Taxpayer Identification Number (TIN). The Contractor shall include its TIN on the invoice only if required elsewhere in this contract.

(x) Electronic funds transfer (EFT) banking information.

(A) The Contractor shall include EFT banking information on the invoice only if required elsewhere in this contract.

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(B) If EFT banking information is not required to be on the invoice, in order for the invoice to be a proper invoice, the Contractor shall have submitted correct EFT banking information in accordance with the applicable solicitation provision, contract clause (e.g., 52.232-33, Payment by Electronic Funds Transfer-System for Award Management, or 52.232-34, Payment by Electronic Funds Transfer-Other Than System for Award Management), or applicable agency procedures.

(C) EFT banking information is not required if the Government waived the requirement to pay by

EFT.

(2) Invoices will be handled in accordance with the Prompt Payment Act (31 U.S.C. 3903) and Office of Management and Budget (OMB) prompt payment regulations at 5 CFR part 1315.

(h) Patent indemnity. The Contractor shall indemnify the Government and its officers, employees and agents against liability, including costs, for actual or alleged direct or contributory infringement of, or inducement to infringe, any United States or foreign patent, trademark or copyright, arising out of the performance of this contract, provided the Contractor is reasonably notified of such claims and proceedings.

(i) Payment.--

(1) Items accepted. Payment shall be made for items accepted by the Government that have been delivered to the delivery destinations set forth in this contract.

(2) Prompt Payment. The Government will make payment in accordance with the Prompt Payment Act (31 U.S.C. 3903) and prompt payment regulations at 5 CFR Part 1315.

(3) Electronic Funds Transfer (EFT). If the Government makes payment by EFT, see 52.212-5(b) for the appropriate EFT clause.

(4) Discount. In connection with any discount offered for early payment, time shall be computed from the date of the invoice. For the purpose of computing the discount earned, payment shall be considered to have been made on the date which appears on the payment check or the specified payment date if an electronic funds transfer payment is made.

(5) Overpayments. If the Contractor becomes aware of a duplicate contract financing or invoice payment or that the Government has otherwise overpaid on a contract financing or invoice payment, the Contractor shall--

(i) Remit the overpayment amount to the payment office cited in the contract along with a description of the overpayment including the--

(A) Circumstances of the overpayment (e.g., duplicate payment, erroneous payment, liquidation errors, date(s) of overpayment);

(B) Affected contract number and delivery order number, if applicable;

(C) Affected line item or subline item, if applicable; and

(D) Contractor point of contact.

(ii) Provide a copy of the remittance and supporting documentation to the Contracting Officer.

(6) Interest.

(i) All amounts that become payable by the Contractor to the Government under this contract shall bear simple interest from the date due until paid unless paid within 30 days of becoming due.

The interest rate shall be the interest rate established by the…