Attachment 9 - Industry Questions and PBGC Responses - Formal Solicitation.xlsx
XLSX spreadsheet 19 KB Posted
- Solicitation number
- 16PBGC26Q0023
- Issued by
-
Pension Benefit Guaranty Corporation
About this file
This file is a Questions and Answers document addressing industry inquiries regarding Solicitation 16PBGC26Q0023 for Expert Financial Advisory Services.
The Q&A clarifies key procurement requirements and evaluation criteria for this IDIQ contract. The Pension Benefit Guaranty Corporation (PBGC) is seeking a prime contractor to provide financial advisory services in the U.S. information technology sector, with experience in distress valuations, turnarounds, and restructuring transactions involving enterprises with funded debt exceeding $4 billion. The contractor must rely on its own professional analysis and standard financial advisory tools rather than developing proprietary platforms or dashboards. Subcontractor experience will not be credited under Factor 2 (Corporate Experience), and the prime contractor must independently satisfy the $4 billion funded debt qualification threshold through its own firm experience, not through key personnel's prior employer experience. Pricing will be unit-based rather than annual-based across five variable CLINs covering Monitoring Support Services, Active Engagement Services, Expert Testimony Services, and Travel, with escalation rates evaluated for reasonableness through comparative analysis. The contract involves work with a single plan sponsor, with the PWS describing circumstances triggering transitions between monitoring and active engagement. Expert Witness candidates must be proposed as single individuals with unblended annual rates, with all associated preparation, deposition, and travel costs included in that CLIN. The document also addresses organizational conflict of interest determinations, past performance lookback periods (3 years for client references), submission file formats, and the Revolutionary FAR Overhaul references applicable to this solicitation.
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Questions & Answers Expert Financial Advisory Services
16PBGC26Q0023
| # | TOPIC | ATTACHMENT TITLE | PAGE AND/OR SECTION # | QUESTION OR RECOMMENDATION | GOVERNMENT RESPONSE |
| 1 | Scope of Services | Attachment 5; Attachment 2 | Pricing Schedule, CLINs X001 and X002 (PWS 5.1.1, 5.1.2) | Does PBGC anticipate that the contractor will provide, host, or maintain any software system, data platform, dashboard, or other information technology tool to deliver Monitoring Support Services or Active Engagement Services, or will the contractor rely on PBGC-furnished systems and its own professional analysis? If a contractor-provided platform is contemplated, will PBGC evaluate it, and under which factor? | PBGC anticipates that the contractor will rely on its own professional analysis, but PBGC does not anticipate that the contract will need to provide, host or maintain any specificized software system, data platform, dashboard or other IT tool. PBGC does anticipate that the contractor will utilize tools that are customarily used by financial advisory firms. |
| 2 | Teaming and Subcontracting | Attachment 2 | Page 2, Factor 2 (Corporate Experience) | Will PBGC consider a quotation in which a firm specializing in secure data integration, monitoring dashboards, or reporting automation participates as a subcontractor to a restructuring advisory prime? If so, how will PBGC weigh such a technology enablement subcontractor relative to the advisory prime, and will subcontractor scope be credited under Factor 2? | Whether to utilize subcontractors is a matter of business judgment for each respondent. PBGC's concern is that the selected awardee meets the contract standards, with or without subcontractor support. No, PBGC will not consider the experience of proposed subcontractors under Factor 2, but it will consider the prime contractor's experience as a subcontractor on other jobs. PBGC has updated Att. 2 to clarify this. |
| 3 | Factor 1 Qualifications | Attachment 2 | Page 2, Section 2.a.ii | Please confirm that the Factor 1 pass or fail qualification (restructuring advisory to a debtor or creditor in a case with at least $4 billion in funded debt) must be satisfied by the prime respondent, and cannot be satisfied by the experience of a proposed subcontractor or teaming partner. | Confirmed. PBGC has updated Atts. 1 and 2 to clarify this. |
| 4 | Factor 1 Qualifications | Attachment 2 | Page 2, Section 2.a.ii | For Factor 1, may a respondent satisfy the $4 billion funded debt threshold through qualifying engagement experience that its proposed key personnel gained at a prior employer, or must the respondent firm itself hold that engagement history? | No, the prime contractor must itself have the experience. See previous response. |
| 5 | Performance Work Statement | Attachment 1; Attachment 5 | Page 6, Section 6.e; Attachment 5 CLIN descriptions | The pricing template and evaluation criteria reference a Performance Work Statement, including Sections 5.1.1, 5.1.2, 5.1.3, 5.2, 6.1, and 10. Will PBGC make the PWS available to all interested respondents before the Volume 1 due date, or only to firms that pass Phase 1? If only after Phase 1, how does PBGC expect firms to hold prices firm for 60 days without visibility into the PWS? | The process for gaining access to the PWS is described in the solicitation posting. |
| 6 | Factor 5 Price | Attachment 5; Attachment 2 | Pricing Schedule; Page 3, Section 2.e | To support consistent and reasonable firm fixed price quotations, will PBGC provide an estimated annual level of effort or historical demand for each variable CLIN, for example an estimated number of monitored plan sponsors, anticipated active engagements per year, and an estimated annual quantity of expert testimony hours? | The annual level of effort is determined primarily by events that are outside of the Government's control. Because of this uncertainty, PBGC is asking respondents to price on a unit basis instead of on an annual basis. As specific types of work are needed, PBGC will order that work under the IDIQ, paying the associated unit price for the required quantity. Respondents with access to the PWS should be able to estimate the per-unit level of effort. |
| 7 | Scope of Services | Attachment 5 | Pricing Schedule, CLINs X001 and X002 | Please clarify the distinction between Monitoring Support Services (CLIN X001) and Active Engagement Services (CLIN X002), including what event or PBGC direction triggers the transition from monitoring to active engagement, and whether both services may be active concurrently for different plan sponsors. | There is only one plan sponsor associated with this work. The PWS describes the circumstances in which each type of work is required. |
| 8 | Factor 5 Price | Attachment 2; Attachment 5 | Page 3, Section 2.e | Section 2.e states PBGC will examine annual escalation rates for reasonableness. Does PBGC have a maximum acceptable annual escalation rate, or a preferred index such as a specific Employment Cost Index or Consumer Price Index series, for the monthly and hourly CLINs across the five ordering periods? | No, PBGC will likely base this assessment on a comparison between quotations. |
| 9 | Factor 5 Price | Attachment 5 | Pricing Schedule, CLIN X004; PWS Section 10 | Attachment 5 instructs respondents not to change the $1,000 travel figure in CLIN X004. Please confirm that travel will be reimbursed at actual cost in accordance with the Federal Travel Regulation against a separately funded not to exceed amount, and that the $1,000 figure is used only to normalize price evaluation. | Information regarding compensation for travel is in the PWS. |
| 10 | Scope of Services and Price | Attachment 5 | Pricing Schedule, CLIN X003; PWS Section 5.1.3 | For Expert Testimony Services (CLIN X003, priced per hour), please confirm whether PBGC expects a single blended hourly rate or a rate that varies by the seniority or role of the testifying expert, and whether preparation, deposition, and travel time associated with testimony are billed under this CLIN or elsewhere. | Respondents should propose a single individual as the Expert Witness and quote a single, unblended annual rate. The proposed candidate's level of expertise and experience should be commensurate with the scope of work described within the PWS. If respondents have more than one proposed solution to the work, they may submit more than one quotation. Travel, deposition, and reasonable preparation costs are covered by this CLIN. |
| 11 | Factor 1 Qualifications | Attachment 2 | Page 2, Section 2.a | Section 2.a states that a respondent PBGC determines to be ineligible to receive a copy of the PWS will be eliminated from the competition. Please describe the criteria PBGC will apply to determine PWS eligibility, for example organizational conflict of interest, confidentiality, or clearance considerations, so respondents can assess eligibility before preparing a quotation. | See the solicitation announcement for this information. |
| 12 | Organizational Conflict of Interest | Attachment 1 | Pages 5 to 6, Sections 6.a.vi and 6.d | Given the advisory and expert witness nature of this work, will PBGC provide additional guidance on the relationships it considers to create an actual or potential organizational conflict of interest, for example concurrent engagements advising plan sponsors, debtors, or creditors in matters where PBGC is a party or creditor? | An organizational conflict of interest arises when, because of a firm's other activities or relationships, it is unable or potentially unable to render impartial assistance or advice to the Government, or its objectivity in performing the contract work is or might be otherwise impaired, or a firm has an unfair competitive advantage. Advising the subject plan sponsor or any of its constituent creditors at any time over the last several years is an example of a clear conflict of interest. Other scenarios may require a more nuanced analysis. When in doubt, respondents should submit a Risk Mitigation Plan. |
| 13 | Cover Letter Requirements | Attachment 1 Instructions to Respondents | Page 2, Section 6.a.i | The aformentioned section cites FAR 52.212-1(a)(1), (2), (3), (5), and (6), Paragraph (a) of that provision addresses NAICS codes / small-business size standards and contains only subparagraphs (1)–(3); it has no (5) or (6). The referenced data elements (solicitation number; time for receipt of quotations; offeror name, address, and telephone number; warranty terms; and price/discount terms) appear at paragraph (b), “Submission of offers.” Please confirm if the correct reference is FAR 52.212-1(b)(1), (2), (3), (5), and (6). | The citations are accurate. Note that PBGC follows the alternate version of the FAR known as the "Revolutionary FAR Overhaul" (RFO). The RFO contains modified versions of many of the clauses and provisions. Respondents must ensure that they read the section of the posting entitled "Revolutionary" FAR Overhaul. That is where you will find a link to the RFO. Att. 5 has been updated to provide a direct link to the full text of provisions and clauses. |
| 14 | General Engagement Question | Attachment 3 Performance Work Statement | Page 1, Section 2 | Can the PBGC please share any additional details regarding the following: (i) level of PBGC engagement with Plan Sponsor, (ii) execution of an NDA or similar agreement between the PBGC and Plan Sponsor, (iii) level of information sharing by Plan Sponsor to PBGC (e.g. receipt of material non-public information, access to data room, meetings with Plan Sponsor representatives, etc.)? | PBGC has had discussions with the Plan sponsor and received confidential information protected under a mutually executed confidential disclosure agreement. |
| 15 | Volume 2: Submission File Type Requirements | Attachment 1 Instructions to Respondents | Page 2, Section 5 | In past solicitations, firms have had to submit their files in zipped folders attached to emails. Is this still the case, or can files be attached directly to the emails? |
For submission of Attachment 5 as part of Volume 2, can the PBGC please clarify as to the submission file type (Excel or PDF)? Respondents may submit responses in any format acceptable under the solicitation. Because the written components are minimal there shouldn't be a need for zipped folders.
Attachment 5 should remain as an Excel document. Att. 1 has been updated to clarify this.
| 16 | Client References Look-Back Period | Attachment 1 Instructions to Respondents | Page 5, Section 6.b.ix | Paragraph A states that presenters must address the firm's relevant work engagements within the preceding 10 years. Does the same 10 year look-back period apply to client references under Paragraph C? | Per Att. 2, Sec. 2.d., PBGC will only consider past performance information from the previous 3 years. Att. 1 has been updated for clarity. |
| 17 | Phase 1 | Attachment 1 | Page 2, Section 6(a)(i) | Is the information being requested attributable to provision 52.212-1(b), rather than 52.212-1(a)? | See response to Question #13. |
| 18 | Pricing | Attachment 5 - EFAS Pricing Template.xlsx | Cells A11-C11 and A27-C27 | Should pricing for CLIN 0005 be limited to pricing for Section 5.2 of the PWS and exclude pricing for Sections 5.1.1. and 6.1 of the PWS since the latter two are already covered in CLIN 0001? | No, CLIN 0005 pricing should cover all referenced areas of the PWS. CLIN 0005 will cover the first month of service; CLIN 0001 will cover all other months of Monitoring Support Services work. |
File details come from the government source that posted it. Updated .