6_16PBGC23Q0041.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

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

SCHEDULE Continued

ITEM NO. SUPPLIES/SERVICES QUANTITY UNIT UNIT PRICE AMOUNT

0001 The contractor shall provide Foreign Transaction Cost

Analysis services in accordance with the CLIN Schedule in Section B, Pricing Schedule.

PR NUMBER: RQ-23-22-000195

DELIVERY DATE: 05/31/2024

SHIP TO:

PENSION BENEFIT GUARANTY CORPORATION

WORKPLACE SOLUTIONS DEPARTMENT

445 12th St. SW

WASHINGTON DC 20024-2101

FOB : Destination Period of Performance: 06/01/2023 to 05/31/2024

1.00 EA

PAGE 3 OF 55 16PBGC23Q0041

Table of Contents

Section 1 Pricing Schedule

Section 2 Statement of Work and Attachment 01

Section 3 Instructions to Offerors

Section 4 Evaluation

52.203-6 IRESTRICTIONS ON SUBCONTRACTOR SALES TO THE GOVERNMENT (JUN 2020)-- ALTERNATE I (NOV 2021)..27

52.203-15 WHISTLEBLOWER PROTECTIONS UNDER THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 (JUN 2010) 27

52.204-6 UNIQUE ENTITY IDENTIFIER (OCT 2016)

52.204-7 SYSTEM FOR AWARD MANAGEMENT (OCT 2018)

52.204-9 PERSONAL IDENTITY VERIFICATION OF CONTRACTOR PERSONNEL (JAN 2011)

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

2022)

52.212-4CONTRACT TERMS AND CONDITIONS--COMMERCIAL PRODUCTS AND COMMERCIAL SERVICES (DEC 2022)

52.223-18ENCOURAGING CONTRACTOR POLICIES TO BAN TEXT MESSAGING WHILE DRIVING (JUN 2020)

52.225-13RESTRICTIONS ON CERTAIN FOREIGN PURCHASES (NOV 2021)

52.232-30INSTALLMENT PAYMENTS FOR COMMERCIAL PRODUCTS AND COMMERCIAL SERVICES (NOV 2021)

52.232-33 PAYMENT BY ELECTRONIC FUNDS TRANSFER--SYSTEM FOR AWARD MANAGEMENT (OCT 2018)

52.233-4 APPLICABLE LAW FOR BREACH OF CONTRACT CLAIM (OCT 2004)

52.239-1 PRIVACY OR SECURITY SAFEGUARDS (AUG 1996)

52.250-2 SAFETY ACT COVERAGE NOT APPLICABLE (NOV 2007)

52.212-1INSTRUCTIONS TO OFFERORS--COMMERCIAL PRODUCTS AND COMMERCIAL SERVICES (NOV 2021)

52.212-2EVALUATION--COMMERCIAL PRODUCTS AND COMMERCIAL SERVICES (NOV 2021)

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

PRODUCTS AND COMMERCIAL SERVICES (DEC 2022)

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

PRODUCTS AND COMMERCIAL SERVICES (DEC 2022)--ALTERNATE I (FEB 2000)

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

PRODUCTS AND COMMERCIAL SERVICES (DEC 2022)--ALTERNATE II (DEC 2022)

52.216-23 EXECUTION AND COMMENCEMENT OF WORK (APR 1984)

52.216-24 LIMITATION OF GOVERNMENT LIABILITY (APR 1984)

52.216-25 CONTRACT DEFINITIZATION (OCT 2010)

52.222-54EMPLOYMENT ELIGIBILITY VERIFICATION (MAY 2022)

52.222-55MINIMUM WAGES FOR CONTRACTOR WORKERS UNDER EXECUTIVE ORDER 14026. (JAN 2022)

52.225-25PROHIBITION ON CONTRACTING WITH ENTITIES ENGAGING IN CERTAIN ACTIVITIES OR TRANSACTIONS RELATING

TO IRAN--REPRESENTATION AND CERTIFICATIONS (JUN 2020)

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

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

PBGC 52.209-7002 HANDLING PBGC DATA (MAY 2017)

PBGC 52.215-7000 OFFEROR'S PROPOSALS (OCT 2004)

PBGC 52.215-7001 METHOD OF AWARD (OCT 2004)

PBGC 52.215-7003 EXPENSES RELATED TO PROPOSAL SUBMISSION (OCT 2004)

PBGC 52.215-7008 PAST PERFORMANCE (JAN 2012)

PBGC 52.232-7000 SUBMISSION OF INVOICES (FIXED-PRICE) (SEPT 2017)

PBGC 52.239-7000 SECTION 508 ACCESSIBILITY STANDARDS (MAR 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)

PAGE 4 OF 55 16PBGC23Q0041

CLAUSES

Section 1 Pricing Schedule

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Contract Type

The Government an cipates award of a Firm Fixed Price (FFP) contract for Commercial Services. Propose unit and extended prices for each line item below:

Base Period – 06/01/2023 – 05/31/2024

Line Item Services QTY UNIT OF ISSUE UNIT PRICE EXTENDED PRICE 0001 The Contractor shall provide Transac on Cost Analysis services in accordance with the Statement of Work (SOW) Sec on 2.

12 MO $ $

The Contractor shall provide all personnel, material, travel, and services in accordance with the SOW.

Invoices shall be submi ed on a quarterly basis and paid in arrears.

Op on Period 1 – 06/01/2024 – 05/31/2025

Line Item Services QTY UNIT OF ISSUE UNIT PRICE EXTENDED PRICE 1001 The Contractor shall provide Transac on Cost Analysis services in accordance with the Statement of Work (SOW) Sec on 2.

12 MO $ $

The Contractor shall provide all personnel, material, travel, and services in accordance with the SOW.

Invoices shall be submi ed on a quarterly basis and paid in arrears.

PAGE 6 OF 55 16PBGC23Q0041

Op on Period 2 – 06/01/2025 – 05/31/2026

Line Item Services QTY UNIT OF ISSUE UNIT PRICE EXTENDED PRICE 2001 The Contractor shall provide Transac on Cost Analysis services in accordance with the Statement of Work (SOW) Sec on 2.

12 MO $ $

The Contractor shall provide all personnel, material, travel, and services in accordance with the SOW.

Invoices shall be submi ed on a quarterly basis and paid in arrears.

Op on Period 3 – 06/01/2026 – 05/31/2027

Line Item Services QTY UNIT OF ISSUE UNIT PRICE EXTENDED PRICE 3001 The Contractor shall provide Transac on Cost Analysis services in accordance with the Statement of Work (SOW) Sec on 2.

12 MO $ $

The Contractor shall provide all personnel, material, travel, and services in accordance with the SOW.

Invoices shall be submi ed on a quarterly basis and paid in arrears.

Op on Period 4 – 06/01/2027 – 05/31/2028

Line Item Services QTY UNIT OF ISSUE UNIT PRICE EXTENDED PRICE 4001 The Contractor shall provide Transac on Cost Analysis services in accordance with the Statement of Work (SOW) Sec on 2.

12 MO $ $

The Contractor shall provide all personnel, material, travel, and services in accordance with the SOW.

Invoices shall be submi ed on a quarterly basis and paid in arrears.

Section 2 Statement of Work and Attachment 01

PAGE 7 OF 55 16PBGC23Q0041

SECTION 2

STATEMENT OF WORK

Foreign Exchange Transaction Cost (FX t-cost) Consulting Services

1. BACKGROUND

The Employee Retirement Income Security Act of 1974 (ERISA) established Pension Benefit Guaranty Corporation (PBGC) as a federal corporation to encourage the growth of defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at a minimum. Defined benefit pension plans promise to pay a specified monthly benefit at retirement, commonly based on salary and years on the job.

PBGC, a wholly owned United States Government corporation, administers the insurance program and termination process for most private-sector defined benefit pension plans that are tax-qualified under the Internal Revenue Code. PBGC is headed by a Director who reports to a board of directors consisting of the Secretaries of Labor, Commerce, and Treasury, with the Secretary of Labor as Chairman. General tax revenues do not fund PBGC. PBGC collects insurance premiums from employers that sponsor insured pension plans, earns money from investments and receives the assets of the pension plans it terminates. PBGC manages all these assets under an investment policy approved by the Board of Directors. PBGC’s funds are separated into two funds: a Revolving Fund which holds the premiums received and a Trust Fund which holds the assets of terminated plans.

PBGC maintains two separate investment funds. The Revolving Fund (valued at approximately $46.4 billion as of September 30, 2022) receives all premium payments and is invested solely in “book-entry” U.S. Government securities held at the U.S. Treasury.

The Trust Fund (valued at approximately $65.2 billion as of September 30, 2022) receives assets from terminated plans. Trust Fund assets can be more flexibly invested than Revolving Fund assets such that possible asset classes include domestic and international equities and domestic and international debt obligations. In addition, the Trust Fund holds other assets such as insurance contracts from terminated plans and illiquid assets received from settlement of employer liability claims.

Currently, PBGC employs thirteen investment advisors to manage domestic and international equity portfolios and sixteen investment managers to manage domestic and international fixed income assets, with certain of these managers overseeing equity and fixed income mandates. In the quarter ending March 31, 2022, we had 29 funds that traded FX with approximately 10,700 transactions during the quarter.

2. SCOPE

PBGC seeks to hire a foreign exchange transaction cost consultant to analyze and evaluate PBGC’s foreign exchange transactions. Contractors providing foreign exchange transaction cost analysis shall have a minimum of 5 years’ experience analyzing foreign transaction costs and shall have a minimum of 15 clients who utilize the Contractor’s foreign transaction cost analysis services.

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3. SPECIFIC TASKS

3.1 Task 1: Quarterly reporting:

The quarterly analysis shall integrate data elements most commonly used in the industry. Data elements should include, at a minimum, market commentary, appropriate peer and universe comparisons, manager trade volume, manager costs, highest and lowest cost trades by manager, currency rankings (by costs and by volume, separately), costs by currency pair, cost by custodian, and banks or vendors used to complete transactions (with all costs shown in U.S.

Dollars and in basis points). Data sources, quality and security are of significant importance to PBGC as is the methodology by which costs, peer universes and rankings are created. The consultant must have the ability to analyze trades of currencies in both developed and emerging (restricted) markets.

PBGC requires a quarterly report and subsequent meeting (to be held via teleconference or videoconference) to review the report as well as provide additional context, market commentary and recommendations on how to reduce costs and improve FX trading. Reports must be easy to digest, accurate and customizable.

The consultant shall:

a) Produce ad hoc reports including foreign exchange trading costs associated with portfolio changes, transitions and rebalancing.

b) Assist PBGC in conversations with custodians and investment managers on ways to decrease foreign exchange trading costs.

c) Provide updates pertaining to significant industry developments or trends such as regulatory changes.

d) Attend PBGC Advisory Committee meetings and Board of Directors meetings, and present its analyses, reports, and recommendations as requested at these meetings.

The consultant will have an adequately sized team, with a minimum of one client facing consultant and one dedicated data analyst. The consultant should have a history of providing FX TCA services to clients of a similar size and nature as PBGC with minimal to no conflicts of interest. FX TCA should be an important aspect of the firm’s overall business with at least 15 FX t-cost clients and should receive adequate resources to maintain the quality and robustness of data and reporting.

The consultant will work closely with PBGC’s custodian banks and commingled fund managers each quarter to retrieve PBGC’s foreign exchange trading data. Current custodians and commingled fund managers include:

State Street, custodian for all separate accounts, BlackRock as the investment manager for index commingled funds, State Street (custodian for commingled funds), J.P. Morgan (custodian for commingled funds), Quarterly Reports shall consist of a minimum of the following elements:

a. Executive summary of total costs, highest cost managers, highest cost trades and issues to address.

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b. Detailed reporting with market commentary, trade costs by manager, trade volume by manager, highest and lowest cost trades by manager, costs by currency pair, currency rankings (by costs and by volume, separately), and appropriate peer and universe comparisons (with all costs shown in U.S. dollars and basis points).

c. Detailed reporting of custodian executed trades that includes trade cost by custodian, trade volume by custodian, highest and lowest cost trades by custodian, costs by currency pair, currency rankings (by costs and by volume, separately), appropriate peer and universe comparisons (with all costs shown in U.S. dollars and basis points).

d. Reporting shall have the ability to incorporate time stamped data.

e. The report shall be derived using an industry recognized data analysis methodology.

3.2 Task 2: Consulting Services:

The contractor shall provide expert FX t-cost consulting services to PBGC at a minimum quarterly to support the report in task 1. The contractor shall provide recommendations on ways to reduce FX transaction costs in addition to commentary on FX market developments. The contractor may also be asked to join conference calls with PBGC investment managers and/or custodians to explain the results of their t-cost analysis no more than four times per year.

3.3 Task 3: Corporate Experience and Business Continuity Plan

The Contractor shall provide a Corporate Experience and Business Continuity Plan in accordance with SOW Attachment 01, Corporate Experience and Business Continuity Plan.

Elements sets forth in Attachment 01 are required to be included in the plan. The Contractor shall submit its initial plan with its proposal. The plan is to be updated and submitted annually, within 30 calendar days of the end of the base and each option period.

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4. DELIVERABLES AND DELIVERY SCHEDULE

The contractor shall provide the following deliverables. The due dates included in the following deliverable schedule are estimates and may be adjusted with prior written approval by the PBGC.

Reference REQUIRED

SERVICES/DELIVERABLE

DELIVERABLE DUE DATE

1.1 and 3.1 Deliverable #1 Consultant will provide

PBGC with quarterly data reports and written analysis/ recommendations

At minimum, consultant will provide quarterly report in a PDF format via electronic mail.

Consultant is available for conference calls to review data and deliverables with

PBGC.

Within 45 days of the end of each quarter

3.1, 3.2 Deliverable #2 Consultant provides any market updates and written commentary that is provided to all clients.

Monthly as updates become available

3.1 Deliverable #3

Advisory Committee

Presentation- No more than once per year.

Up to one time per option period

3.2 Deliverable #4

Consultant is available for conference calls with PBGC Investment Managers

Up to 4 times per option period

3.1 Deliverable #5

Consultant will provide reports and analysis associated with portfolio changes, transitions and plan

Within 15 days of PBGC’s request or receipt of necessary input data

PAGE 11 OF 55 16PBGC23Q0041

rebalances. PBGC anticipates no more than 2 per year.

3.3, SOW

Attachment 1

Deliverable #6 Plan must include all elements set forth in SOW Attachment 01

Annually, beginning at contract proposal and within 30 days of the end of the base year and each option year. Delivered in .pdf format via electronic mail.

Note: Deliverable dates are established after contract award between the government and the contractor and will be incorporated by modification.

6. GOVERNMENT FURNISH PROPERTY (GFP)

None.

7. PLACE OF PERFORMANCE

The contractor shall perform all duties under this contract at the contractor’s place of business.

PAGE 12 OF 55 16PBGC23Q0041

STATEMENT OF WORK

ATTACHMENT 01

FOREIGN EXCHANGE TRANSACTION COST (FX t Cost) CONSULTING SERVICES

CORPORATE EXPERIENCE AND BUSINESS CONTINUITY PLAN ELEMENTS

In accordance with SOW Section 4, Deliverables and Delivery Schedule, the Offeror shall provide a draft report as part of its proposal describing its Corporate Experience and the experience of its major subcontractors and/or joint venture partners, if any, that demonstrates experience and expertise for this requirement. Information on the Offeror's size, experience, and resources available to enable the Offeror to fulfill the requirements and maintain business continuity shall be provided. Note: Individual resumes shall not replace a discussion of Corporate Experience. In describing your corporate experience, please provide a brief history of the firm, including any affiliated companies; list any regulators that monitor the firm; state the percentage of your business in terms of revenues that is dedicated to FX T Cost Analysis and identify the number of employees at your firm.

The following elements shall be included in the proposed Corporate Experience and Business Continuity Plan:

A. Firm Background

1. How many years has your firm provided FX t-cost analysis? Note – SOW paragraph 2, Scope, indicates contractors shall have at least 5 years’ experience providing FX t-cost analysis.

2. Describe other services that your firm provides in addition to FX t-cost analysis.

3. Provide details on the percentage of your firm’s revenue derived from FX t-cost analysis.

a. Describe other revenue sources

b. Specify how much revenue comes from investment managers

4. Describe the ownership structure of your organization. Identify any parent companies, subsidiaries, affiliated companies or joint ventures involved in relationship with your firm.

Please include organizational chart that diagrams the interrelationships between the professional staff as well as the parent-subsidiary, affiliate, or joint venture entities.

5. Describe any potential conflicts of interest that you may have in providing FX t-cost analysis and recommendations to PBGC. Please include affiliations with investment managers or broker/dealers, investment banking activities or any existing or prior arrangements or relationships with any current board member. Include any other pertinent activities, actions, or relationships not specifically outlined in this question. If a potential conflict of interest exists, please provide a mitigation plan.

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6. Please provide the location and function of each of your firm’s offices in the following format, and indicate which office will support the TCA product:

Location Function Staff

7. Provide details on the volume of FX transactions that you analyze annually, including:

8. Provide details on the number of FX analysis clients that you have. Note: SOW paragraph 2, Scope, indicates the Contractor must have at least 15 clients utilizing the Contractor’s FX t-cost analysis services the Contractor provides.

a. How long have you had your longest client?

b. Describe the types of clients that you have? Please characterize your clients by type:

Asset Owners, Investment Managers, Mutual Funds, Custodian, Broker/ Dealer.

9. List and explain any arbitration or litigation (resolved or ongoing) that has been filed against the firm by client or any other party in the ten years ending March 31, 2022.

10. Has the firm or any of its principal owners ever been convicted of fraud or breach of duty to a client? If yes, explain in detail.

11. Discuss the overall business objectives of your firm with respect to future growth.

Comment on any present or planned areas of emphasis over the near future. Be sure to include in your response:

a. Plans to add staff;

b. Plans for the development of new products; and

c. Plans for technology spending to support FX TCA services and delivery.

12. Provide the name of the insurance company your firm uses, the amount of insurance coverage carried by your firm as of March 31, 2023, and explain any deductibles or restrictions applicable to client coverage.

13. Summarize your disaster recovery/business continuity plan.

14. What is your firm’s current in-office versus work-from-home policy for staff? What are your firm’s plans for adding and/or reducing staff? How do you promote information security and safe sharing of data between in-office and remote locations?

Trading /Year 2021 2020 2019

Volume (USD, estimate)

Number of transactions

Associated assets under management (USD, estimate)

Section 3 Instructions to Offerors

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SECTION 3

INSTRUCTIONS TO OFFERORS

The Offeror shall provide a proposal that conforms to the requirements outlined in this solicitation.

The Offeror’s failure to follow the requirements in the instruction to Offerors may result in the Offeror’s proposal not being evaluated for award.

As a result of this Request for Proposal (RFP), the Government intends to award one (1) firm-fixed-price contract. All information necessary for the review and consideration of the Offeror’s submission shall be included in its proposal.

1.0. Due Date for Questions

Questions regarding this solicitation shall be submitted via email to Jeffrey Gangi, at gangi.jeffrey@pbgc.gov and Mary Skaggs, at Skaggs.mary@pbgc.gov, no later than 10:00 AM Eastern Time (ET) on April 17, 2023.

Any questions received after this date may not be answered before the solicitation closing date.

Prospective Offerors should identify the solicitation section and paragraph to which their question applies in accordance with the question format below. No information concerning this solicitation will be provided in response to telephone calls.

Table 3.1

Question Number

Solicitation Section

Solicitation Page Number

Offeror Question(s)

PBGC

Response(s)

Prospective Offerors are warned against contacting any PBGC personnel outside of the Procurement Department regarding this solicitation prior to award of a resultant task order. If such contact occurs and is determined to be prejudicial to competing Offerors, the Offeror making such contact may be excluded from award consideration.

Questions received and answers provided will be compiled and posted on SAM, giving due regard to the proper protection of proprietary information.

2.0. Due Date for Proposals

Proposals shall be submitted via email to Jeff Gangi, at gangi.jeffrey@pbgc.gov and Mary Skaggs, at Skaggs.mary@pbgc.gov, no later than the date and time indicated on the SF1449.

3.0. Instructions to Offerors

The Offeror’s proposal shall consist of three (3) volumes – i.e., the Technical Proposal (Volume I), the Past Performance (Volume II), and the Price Proposal (Volume III) – which shall be submitted no later than the date indicated on the SF 1449.

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The proposal shall use the format specified below. These directions assist in providing a fair and equitable evaluation of all proposals. The Government may deem proposals that do not follow these instructions as unacceptable and may reject the proposal from further consideration.

8.5 by 11-inch page size.

11 pitch print or larger, Times New Roman style font.

Tables, charts, graphs, and figures shall be used wherever practical to depict organizations, systems and layout, implementation schedules, plans, etc. These displays shall be 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.

1-inch margin at the top, bottom, and both sides of each page. All documents shall be in a Microsoft Office compatible format. All pages shall be single spaced.

Every page shall be sequentially numbered; and Page numbers shall be centered in the bottom margin.

The page limitations for the proposal are as follows:

1. The Technical Proposal (Volume I) shall not exceed fifty (50) pages. The page limits for this volume exclude cover pages, cover letters, table of contents, and resumes.

2. The Past Performance Proposal (Volume II) shall not exceed 2 pages per Past Performance Reference.

3. The Price Proposal (Volume III) has no page limit. Offerors are cautioned not to include any information in Volume III that shall be listed under Volumes I and II.

The Offeror’s written technical proposal shall fully address the evaluation criteria listed herein in Section 4, “Method of Award/Evaluation Factors.” Volume I (Technical) shall be submitted as a separate document from Volume II (Past Performance) and Volume III (Price) so that the evaluation of each volume may be conducted independently. The Offeror shall ensure that no pricing information is contained in the technical or past performance volumes of the proposal.

4.0. Volume I – Technical Proposal

4.1. Factor 1: Technical Approach and Capabilities

The proposal must demonstrate the proposed team’s technical approach and capabilities to satisfying the requirements of the solicitation.

The Offeror’s proposal shall describe in detail the Offeror’s proposed technical methods and approach to performing the requirements specified in the Statement of Work (SOW). In addition, the offeror must clearly indicate how the proposed technical approach will fulfill the Government’s requirements. Overall, the Offeror’s proposed approach must clearly describe the relationship between the proposed technical approach and the requirements in the SOW.

A. The Offeror’s proposal shall include and demonstrate the following elements:

i. An actual or simulated FX T-Cost report

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ii. An example of quantitative analysis, qualitative analysis, and updates and commentary on industry and regulatory developments provided to current clients related to FX T-Cost.

iii. Examples of opinions and recommendations your company provides regarding client FX T-Costs.

iv. A description of how your company determines and uses time-stamp information in analyzing transactions.

v. A description of how your company determines appropriate comparable peer groups for your clients.

B. The Offeror’s proposal shall describe FX t-cost analysis services your firm provides and models used in analysis. The proposed approach must describe in detail the following regarding the benchmarks, metrics, and/or universes your firm uses to evaluate FX trading costs:

i. Describe the following regarding the benchmarks, metrics and/or universes your company uses to evaluate FX trading costs:

a. how they are constructed

b. benefit of using them,

c. all benchmarks used

d. how peer group rankings are gathered and calculated

ii. Describe the following regarding data inputs used to evaluate FX t-costs:

a. how the data inputs are obtained

b. your company’s data requirements

c. client-provided data inputs

d. process and any associated difficulties your company has in terms of manipulating data from outside sources

e. data limitations

iii. Describe your methodology for determining time of execution:

a. Include real-time sources for exchange rates

b. how appropriate benchmarks are derived assuming you are provided with precise time of execution.

c. the pros/cons of this methodology?

d. How your company evaluates FX trades in less liquid markets or restricted currencies

C. List all currencies for which your firm cannot analyze trading costs and discuss the reasons your firm is unable to evaluate trades in these markets.

D. Describe your firm’s methodology for measuring costs for FX based on time-stamped data.

E. Describe the interaction and data needed from PBGC’s investment managers necessary to properly categorize trades. (i.e., negotiated trades vs. non-negotiated trades, spot vs. forward, trade size categorization (market vs. non-market), etc.).

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F. Describe your firm’s capability in terms of receiving client trading data from other than custodian bank sources. Describe data sources other than custodian bank sources if your firm is able to use such data.

G. Describe the margin of error found in your data, including descriptions of the accuracy and limitation of reports your company provides.

H. Describe how your company establishes outliers.

i. Describe how outliers are identified.

ii. Describe how outliers affect performance calculations including the inclusion or exclusion in performance calculations.

J. Describe the methods that your firm uses to protect the integrity of the data it receives from both internal and external breaches, including a description of your firm’s cybersecurity policy and whether specific client data is shared with other clients.

4.2. Factor 2: Reporting

A. Offeror’s proposal shall provide a detailed description of the reports and analytics that your firm provides, including any online reporting capabilities. The detailed description shall include the following elements at a minimum:

i. A sample report that you provide clients for analyzing their FX trades and provide an explanation of the purpose of each section of the report and how a client would use it to evaluate FX trading costs.

ii. Examples of opinions and recommendations that you provided regarding a client’s FX trading costs.

iii. Describe the target audience for your reports. For example, are your reports geared toward traders or pension investment staff?

B. Describe in detail your ability to customize FX reports based upon clients’ requests.

C. Describe the processes used to ensure accuracy.

D. Describe initial set-up requirements, including necessary systems or work by PBGC IT or other staff, how the product is updated, and any other requirements that PBGC personnel must complete to effectively use the service.

E. Provide examples of industry and regulatory updates your firm provides to clients.

4.3 Factor 3: Corporate Experience and Business Continuity Plan

The proposal must include a proposed Corporate Experience and Business Continuity Plan, in accordance with SOW Section 4, Deliverables and Delivery Schedule, and SOW Attachment 01, Corporate Experience and Business Continuity Plan Elements.

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5.0. Volume II – Past Performance

5.1 Factor 4: Past Performance

PBGC is seeking to determine whether each Offeror consistently delivers quality products and/or services in a timely manner with a reasonable degree of customer satisfaction. Therefore, this factor will be evaluated based on relevant, recent Past Performance. Accordingly, the PBGC will evaluate the proposed Past Performance Information (PPI) based on information received from the prospective contractor (references), and from any other reliable source available to the PBGC;

sources such as an official Past Performance database and/or other Government and local agencies.

As stipulated under FAR Part 15.3, Offeror’s without a record of relevant Past Performance or for who information on Past Performance is not available, the Offeror may not be evaluated favorably or unfavorably on Past Performance. Thus, Offerors without a record of relevant Past Performance will be given a neutral rating.

The Offeror shall provide evidence of the Offeror's (i.e., firm's or organization's) relevant past performance including meeting delivery dates and schedules the same as, or substantially similar to, that as are required by this solicitation. The Offeror shall provide three references as follows:

the names and telephone numbers of contact persons from previous or current customers who can provide information regarding the performance of the Offeror's firm during the last three years of work of a similar nature to that described in the SOW. Include the dollar amount and length of contract for each contract referenced. In the event a vendor submits more than 3 references, it will be the Government’s prerogative as to which 3 will be used for evaluation purposes. Past Performance will be evaluated using the Adjectival Rating Scale found in Section 4, Evaluation.

Provide the following information for each past performance reference:

Table 5.1 Project Title:

Customer/Agency Name:

Contract Number/Task Order Number:

Dollar Value:

Contract Type:

Period of Performance:

Current Status (e.g. Completed, In Progress) Point of Contact Name Point of Contact Email Point of Contact Phone Number:

The Offeror shall include the following information for each of the past performance reference responses:

Description – The Offeror shall describe the scope of work performed on the past performance reference.

Recency – The Offeror shall provide past performance references that have occurred within the five (5) years prior to the issuance of this solicitation.

Relevance – The Offeror shall describe the relevance of the past performance reference to

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the PWS in this solicitation.

Performance – The Offeror shall describe its performance on the past performance reference in terms of quality in accordance with quality ratings listed in Section 4, Evaluation, table 4.2.

The three references provided shall demonstrate the following:

1. Quality of Service, including: (i) Experience and quality of past and current foreign exchange transaction cost analysis consultants and (ii) Quality of products and services as well as technical support provided, including quality of personnel.

2. Timeliness of Performance

3. Business Relations, including problem responsiveness.

4. Customer Satisfaction

5.0. Volume III – Price

5.1. Factor 3: Price

The Offeror’s price proposal shall provide a complete firm fixed price (FFP) for all items listed in Section 1, “Pricing Schedule” herein for the Base Period and Option Period 1. Additionally, the Offeror shall propose a price for the optional six-month extension pursuant to FAR 52.217-8. The proposal shall calculate its total proposed price for the six-month extension authorized by FAR 52.217-8 as one-half of the total price for the final option period of the contract. The Offeror shall not change the descriptions or quantity of any item included in the Pricing Schedule. All CLINs within both the Base Period and Option Period shall be priced for the proposal to be evaluated.

AN OFFEROR’S FAILURE TO PROVIDE PRICING FOR THE FAR 52.217-8

EXTENSION OF SERVICES CLAUSE WILL RESULT IN THE OFFEROR’S

PROPOSAL OR PROPOSAL BEING FOUND EITHER NON-COMPLIANT OR

TECHNICALLY UNACCEPTABLE AND INELIGIBLE FOR AWARD.

5.2. Business Information

As part of Volume III, the proposal shall also include the following information:

1. Authorized Individuals: The Offeror shall include the name, title, telephone number, and email address for the individual designated as the central point of contact for this proposal.

2. Exceptions: The Offeror shall include a statement that no exceptions have been taken to the terms and conditions of the solicitation. If any exceptions have been taken, the exceptions must clearly be listed on the cover page in the price proposal.

3. Offeror Validity Statement: The Offeror shall make a clear statement that its proposal is valid for no fewer than 120 calendar days from the closing date of the solicitation.

4. SAM Registration: The Offeror shall make a clear statement that their SAM registration is current and active at the time the proposal is submitted.

The Government is not liable for any costs incurred by any Offeror in submitting proposals in response to this RFQ.

Section 4 Evaluation

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SECTION 4

METHOD OF AWARD/EVALUATION CRITERIA

1.0 Basis of Award: Best Value Trade Off – Relative Order of Importance of Factors The Government will make a single award to the Offeror whose proposal is determined to represent the best value to the Government considering price and non-price factors. Factors 1, 2, and 3 are equal and will be evaluated for both completeness and adequacy on a “meets or does not meet” basis to determine technical acceptability. A rating of “does not meet” for any technical factor will result in an overall rating of “technically unacceptable.” For technically acceptable proposals, Factor 4, Past Performance is more important than Factor 5, Price. Offerors are cautioned that the award may not necessarily be made to the lowest priced Proposal. The resultant contract shall be awarded only to one responsible prospective Offeror.

2.0 Evaluation Factors

The Government will evaluate each Offeror’s quote using the evaluation factors identified below:

Factor 1: Technical Approach and Capabilities Factor 2: Reporting Factor 3: Corporate Experience and Business Continuity Plan Factor 4: Past Performance Factor 5: Price

Factor 1: Technical Approach and Capabilities, Factor 2: Reporting, and Factor 3: Corporate Experience and Business Continuity Plan will be evaluated for completeness and adequacy on a “meets or does not meet” basis to determine technical acceptability. Once a proposal is determined “technically acceptable,” the Government may then determine whether trade-off is appropriate between Factor 4: Past Performance and Factor 5: Price. Factors 1, 2, and 3 are more important than Factors 4 and 5. Once a proposal is determined technically acceptable, Factor 4, Past Performance is more important than Factor 5, Price.

3.0 Volume 1 – Technical Factors

3.1 Factor 1: Technical Approach and Capabilities

The Technical Approach and Capabilities factor will be evaluated to determine the degree to which the Offeror’s proposal demonstrates an understanding of the technical requirements outlined in the SOW as well as the necessary skills, knowledge, capabilities, and technical approach that will result in successful performance. To that end, the government will consider the proposal “technically acceptable” for this factor if it completely and adequately demonstrates its approach and capabilities in accordance with the SOW and Instructions to Offerors, paragraph 4.1, Factor 1: Technical Approach and Capabilities, as follows:

A. The Government will determine whether the proposal includes and demonstrates the following:

i. Actual or simulated FX t-Cost report, PAGE 21 OF 55 16PBGC23Q0041

ii. Examples of quantitative analysis, qualitative analysis, and updates and commentary on industry and regulatory developments provided to current clients related to FX t-Cost,

iii. Examples of opinions and recommendations currently provided to clients regarding FX t-Costs,

iv. Descriptions of how your firm determines and uses time stamp information in analyzing transactions, and

v. A description of how your company determines appropriate comparable peer groups for your clients.

B. The Government will determine whether the proposal includes and adequately describes and/or demonstrates the following elements:

i. Description of benchmarks, metrics, and/or universes your company uses to evaluate FX trading costs, including the following:

a. How they are constructed

b. Benefits of using them

c. All benchmarks used, and

d. How peer group rankings are gathered and calculated

ii. Description of data inputs used to evaluate FX t-costs, including the following:

a. How data inputs are obtained

b. Your company’s data requirements

c. Client-provided data inputs

d. Process and any associated difficulties your company has in terms of manipulating data from outside sources, and

e. Data limitations

iii. Description of your methodology for determining time of execution, including the following:

a. Real-time sources for exchange rates

b. How appropriate benchmarks are derived, assuming you are provided with precise time of execution

c. The pros/cons of this methodology, and

d. How your company evaluated FX trades in less liquid markets or restricted currencies

C. A list of all currencies for which your firm cannot analyze trading costs and a discussion of the reasons your firm is unable to evaluate trades in these markets.

D. A description of your firm’s methodology for measuring costs for FX based on time-stamped data.

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E. A description of the interaction and data needed from PBGC’s investment managers necessary to properly categorize trades. (i.e., negotiated trades vs. non-negotiated trades, spot

vs. forward, trade size categorization (market vs. non-market), etc.).

F. A description of your firm’s capability in terms of receiving client trading data from other than custodian bank sources. Ensure data sources other than custodian bank sources are described, if your firm is able to use such data.

G. A description of the margin of error found in your data, including descriptions of the accuracy and limitation of reports your company provides.

H. A description regarding how your company establishes outliers, including the following:

i. How outliers are identified.

ii. How outliers affect performance calculations including the inclusion or exclusion in performance calculations.

I. A description of the methods that your firm uses to protect the integrity of the data it receives from both internal and external breaches, including a description of your firm’s cybersecurity policy and whether specific client data is shared with other clients.

3.2 Factor 2: Reporting

The Government will evaluate the Offeror’s proposed technical approach for Reporting to determine if it meets or does not meet the requirements described in this solicitation. The proposal will be considered technically acceptable for this factor if it adequately describes its approach for Reporting in accordance with Instructions to Offerors, Factor 2, Reporting. The Government will evaluate the following to determine technical acceptability for this factor:

A. Detailed description of the reports and analytics that your firm provides, including any online reporting capabilities. The detailed description shall include the following elements at a minimum to be considered technically acceptable:

i. A sample report that your firm provides to clients for analyzing their FX trades and provide an explanation of the purpose of each section of the report and how a client would use it to evaluate FX trading costs.

ii. Examples of opinions and recommendations that you provided regarding a client’s FX trading costs.

iii. Description of the target audience for your reports. For example, are your reports geared toward traders or pension investment staff?

B. A detailed description of your ability to customize FX reports based upon clients’ requests.

C. A description of the processes used to ensure accuracy.

PAGE 23 OF 55 16PBGC23Q0041

D. A description of initial set-up requirements, including necessary systems or work by PBGC IT or other staff, how the product is updated, and any other requirements that PBGC personnel must complete to effectively use the service.

E. Examples of industry and regulatory updates your firm provides to clients.

3.3 Factor 3: Corporate Experience and Business Continuity Plan

The Government will evaluate the Offeror’s proposed Corporate Experience and Business Continuity Plan in accordance with Instructions to Offerors, L.2, Factor 3, and SOW Attachment 01, Corporate Experience and Business Continuity Plan Elements, for completeness and adequacy to determine whether the proposed plan includes all required elements and that each element is adequately described.

4.0 Volume II – Past Performance

4.1 Factor 4: Past Performance

The Government will evaluate the Offeror’s past performance where the Offeror had direct responsibilities as the prime contractor performing recent and relevant projects similar in nature to the work described in the Statement of Work (SOW). The following will be evaluated to determine the extent to which the past performance effort demonstrates:

Quality of Services, including: (i) Experience and quality of past and current foreign exchange transaction cost analysis consultants, and ii) Quality of products and services as well as technical support provided, including quality of personnel.

Timeliness of Performance Business relations, including problem responsiveness.

Customer Satisfaction

The Government will use relevancy, recency, and performance quality to evaluate the quality of the vendor’s past performance references and whether a vendor consistently delivered quality products and/or services in a timely manner with a reasonable degree of customer satisfaction. Relevancy is defined as a measure of the extent of similarity between the service/support effort, its complexity, dollar value, contract type, and subcontract/teaming or other comparable attributes to the requirements of this solicitation; and a measure of the likelihood that the past performance is an indicator of future performance.

For the purposes of evaluating past performance, the following definitions apply:

a. “Recent” is defined as past performance within the five (5) year period preceding the date of issuance of this solicitation.

b. “Relevant” is defined as similar in scope, magnitude, and complexity to the Statement of Work (SOW).

The Government may also obtain other past performance information obtained from various sources known or identified by the Government, other than the provided references from the

PAGE 24 OF 55 16PBGC23Q0041

Offeror. The Government may consider past performance information from individual references provided by the Offeror, or in the aggregate.

Offerors without a record of relevant past performance or when information on past performance is not available, may not be evaluated favorably or unfavorably on past performance. Thus, Offerors without a record of relevant past performance will be assigned a neutral rating for this factor.

As stipulated under FAR Part 15.3, Offerors without a record of relevant past performance, or for whom information is not available, the Offeror may not be evaluated favorably or unfavorably on past performance.

4.2 Rating Scale for Factor 4, Past Performance

The adjectival ratings for Factor 4, Past Performance are described in tables 4.2 and 4.3 below:

Table 4.2 Past Performance Confidence Adjectival Ratings and Descriptions

Confidence Adjectival Ratings and Descriptions

Adjectival Ratings Descriptions

Substantial Confidence

Based on the offeror’s recent/relevant performance record, the government has a high expectation that the offeror will successfully perform the required effort.

Satisfactory Confidence performance record, the government has a reasonable expectation that the offeror will

Limited Confidence performance record, the government has a low expectation that the offeror will be able to

No Confidence performance record, the government has no expectation that the offeror will be able to

Unknown/Neutral Confidence

No recent/relevant performance record is available, or the offeror’s performance record is so sparse that no meaningful confidence assessment rating can be reasonably assigned.

The offeror may not be evaluated favorably.

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There are four levels of relevancy as shown in the table below. Note: With respect to relevancy, past performance of greater relevancy will typically be a stronger predictor of future success and have more influence on the past performance confidence assessment than past performance of lesser relevance.

Table 4.3, Past Performance Relevancy Ratings and Descriptions

There are four levels of past performance quality ratings, illustrated in the table below:

Table 4. Past Performance Quality Ratings and Descriptions

Past Performance Quality Ratings Adjectival Rating Description

Outstanding

Contractor’s performance exceeded customer expectations and was technically acceptable, providing significant features or benefits

Satisfactory

Contractor met customer expectations or contract requirements and demonstrated an acceptable understanding of the requirements

Unsatisfactory

Contractor’s performance was either marginal or did not meet customer expectations or contract requirements

Other

If the element is not applicable,…