Draft PWS Form 5500 Data Subscription.pdf

DRAFT PERFORMANCE WORK STATEMENT (PWS): FORM 5500 DATA

SUBSCRIPTION

GENERAL INFORMATION

1.1. Description of Services/Introduction:

The contractor shall provide access to financial data subscription as defined in this Performance Work Statement, except as Specified in section C-3 as government furnished property and services. The contractor shall perform to the standards in this contract.

1.2. Background:

In support of its mission, EBSA uses enhanced Form 5500 data to identify trends in retirement plan funding, service providers, fees, and investments. Mapping Form 5500 data to other financial information, including SEC filings, improves EBSA’s ability to identify plans and service providers that might be at risk. To accomplish these goals effectively and efficiently, EBSA requires access to edited Form 5500 data mapped with SEC, FINRA, and investment performance data that the agency can easily download and analyze.

1.3. Objectives:

The purpose of this contract is to provide access and technical support to enhanced Form 5500 data. The data should be edited to standardize names of companies and individuals from different schedules to facilitate matching, matching of the SEC IARD database of investment advisors to firms listed on the Schedules C and A, Form ADV data on individual representatives and firms from disclosure reports, FINRA data on broker-dealers firms and individuals, spread of assets across geographic locations, indicators for Taft-Hartley plans, and single headquarter locations for multi-location companies.

1.4. Scope:

EBSA seeks a subscription contract for access to the data and information listed in Part 5 of this PWS. The contract shall consist of at least 30 subscription licenses with options for up to 20 more licenses (for a total of 50). Each license will be for the duration of 12 months, with an option to renew for up to 3 additional years.

The Contractor shall provide a subscription containing the specified data elements and the necessary maintenance during the entirety of this contract. The subscription to this data shall be fully functional and available throughout the entirety of the contract (except during agreed upon maintenance and update periods). If the Contractor makes updates or additions to the underlying data upon which the subscription is based, then the Contractor shall also make the same updates and additions to the subscription.

1.5. Period of Performance:

The period of performance shall be for one (1) Base Period of 12 months and three (3) 12-month option periods.

1.6. General Information

Quality Control:

The contractor shall develop and maintain an effective quality control program to ensure services are performed in accordance with this PWS. The contractor shall develop and implement procedures to identify, prevent, and ensure non-recurrence of defective services. The contractor’s quality control program is the means by which he assures himself that his work complies with the requirement of the contract. As a minimum, the contractor shall develop quality control procedures that address the areas identified in Technical Exhibit 1, “Performance Requirements Summary.” After acceptance of the quality control plan, the contractor shall receive the contracting officer’s acceptance in writing of any proposed change to the QC system.

Quality Assurance:

The government shall evaluate the contractor’s performance under this contract in accordance with the Quality Assurance Surveillance Plan. This plan is primarily focused on what the Government must do to ensure that the contractor has performed in accordance with the performance standards. It defines how the performance standards will be applied, the frequency of surveillance, and the minimum acceptable defect rate(s).

Government Remedies:

The contracting officer shall follow FAR 52.212-4, “Contract Terms and Conditions- Commercial Items” or 52.246-4, “Inspection of Services-Fixed Price” for contractor’s failure to perform satisfactory services or failure to correct non-conforming services.

Recognized Holidays:

The Contractor is not required to perform services on the following holidays:

New Year’s Day Labor Day Martin Luther King Jr.’s Birthday Columbus Day President’s Day Veteran’s Day Memorial Day Thanksgiving Day Independence Day Christmas Day

Hours of Operation/Place of Performance:

The contractor is responsible for conducting access to the data subscription between the hours of 8:00 am to 6:00 pm Monday thru Friday, except Federal holidays or when the Government facility is closed due to local or national emergencies, administrative closings, or similar Government directed facility closings. The Contractor must at all times maintain an adequate workforce for the uninterrupted performance of all tasks defined within this PWS when the Government facility is not closed for the above reasons. When hiring personnel, the Contractor shall keep in mind that the stability and continuity of the work force are essential. Telecommuting or “work at home” is not authorized under this contract unless under emergency situations as determined by the COR.

Type of Contract:

The Government anticipates the award of a Fixed-Price Contract for the base task with equal monthly payments for a 12-month base year and three (3) option years. Option years are exercised at the Government’s decision.

Security Requirements:

Rights in Data and Copyright.

Throughout the period of this Agreement, the Government reserves exclusive and unlimited rights to the information provided to the Contractor, except for the information the Government makes available to the public. The Government also reserves exclusive rights to the results and findings produced by this project.

The Contractor agrees that the Government may use the Product to carry out the Government's Business Purposes, as defined herein, subject to the restrictions contained herein. The Government 's Business Purposes include: (a) sharing of the information provided by the Product ("Information") within and among Government 's employees and agents with a need to know; (b) incorporating portions of Information either in unmodified ("raw") or summary ("aggregate") form, into works that the Government creates, including, but not limited to: research papers (such as papers prepared for publication in academic journals), speeches, testimony, reports, official publications, and internal documents (created works hereinafter collectively, "Work Product"): and (c) sharing descriptive documentation provided by the Contractor regarding the Services (such as user guides and data dictionaries) within the EBSA and with government agencies (e.g., the United States Department of Treasury, the Federal Deposit Insurance Corporation, Financial Stability Oversight Council) who have a need to know such Information. The Government's Work Product will not incorporate Information in a quantity or manner that would cause the Work Product to constitute a substitute for the purchase of the Product from the Contractor.

Special Qualifications:

None.

Post Award Conference/Periodic Progress Meetings:

The Contractor agrees to attend any post award conference convened by the contracting activity or contract administration office in accordance with Federal Acquisition Regulation Subpart 42.5. The contracting officer, Contracting Officer’s Representative (COR), and other Government personnel, as appropriate, may meet periodically with the contractor to review the contractor's performance. At these meetings the contracting officer will apprise the contractor of how the government views the contractor's performance and the contractor will apprise the Government of problems, if any, being experienced. Appropriate action shall be taken to resolve outstanding issues. These meetings shall be at no additional cost to the government.

Contracting Officer’s Representative (COR):

A COR will be delegated under separate cover.

Contract Manager:

The contractor shall provide a contract manager who shall be responsible for the performance of the work. The name of this person and an alternate who shall act for the contractor when the manager is absent shall be designated in writing to the contracting officer. The contract manager or alternate shall have full authority to act for the contractor on all contract matters relating to daily operation of this contract.

Identification of Contractor Employees:

All contract personnel attending meetings, answering Government telephones, and working in other situations where their contractor status is not obvious to third parties are required to identify themselves as such to avoid creating an impression in the minds of members of the public that they are Government officials. They must also ensure that all documents or reports produced by contractors are suitably marked as contractor products or that contractor participation is appropriately disclosed.

DEFINITIONS & ACRONYMS

PWS. Performance Work Statement

Contracting Officer’s Representative (COR). A representative from the requiring activity assigned by the Contracting Officer to perform surveillance and to act as liaison to the contractor.

Defective Service. A service output that does not meet the standard of performance associated with it in the Performance Work Statement.

DOL. Department of Labor

Quality Assurance Surveillance Plan (QASP). An organized written document specifying the surveillance methodology to be used for surveillance of contractor performance.

Quality Control. Those actions taken by a contractor to control the performance of services so that they meet the requirements of the PWS.

Quality Assurance. Those actions taken by the government to assure services meet the requirements of the Performance Work Statement.

GOVERNMENT FURNISHED

PROPERTY, EQUIPMENT, AND SERVICES

3.1 General:

The government shall provide the facilities, equipment, materials, and/or services listed below.

3.2 Equipment:

The Government will provide all computers and networks to access the data subscriptions by EBSA staff.

CONTRACTOR FURNISHED

ITEMS AND SERVICES

4.1 General:

Except for those items specifically stated to be government furnished in Part 3, the contractor shall furnish everything required to perform this PWS.

PART 5 SPECIFIC TASKS

5.1 Basic Services:

The contractor shall provide Form 5500 data subscriptions. The contractor shall provide the following in its data subscription and tools:

1. Plan Data shall contain no less than the following:

a. Plan Data containing Plan name, Plan Assets, Active Participants, Number of

Investment Options, Advisor information, and Region.

b. Other Plan Data relating to Fund Balance, Fund Type, Number of Investment

Options, Advisor information, Industry information, Fund Allocation data, Ticker symbol data, and Recordkeeper information.

2. Advisor/Consultant and Recordkeeper Data shall contain no less than the following:

a. Distribution Data containing Total DC Distribution, Plan Count, Average Plan

Size, Distribution by Plan Size (Assets/Participants), Geographic Breakdown (Plan Map), and Industry Breakdown.

b. Fund Data containing Fund name, Manager Information, Asset Class, Plan Counts, and Total Asset Data.

3. Asset Manager Data shall contain no less than the following:

a. Distribution Data containing Total DC Distribution, Contractor Rankings and Awards, Top Funds data, Geographic Breakdown (Plan Map), Distribution by Plan Size data, General Plan data, Menu Capture data, and Investment Vehicle data.

b. Funds Data containing Fund Name, Distribution amounts, Plan Counts, Total Assets, Average Number of Participants, Average Plan Assets, Menu Capture data, and Average Plan Holding data.

c. Territory Map containing Color coded US map and Territory Breakdown by Salesperson.

4. Advisor Regulatory Filing Information shall contain no less than the following:

a. Registered Investment Advisers (RIAs) and Broker-Dealers (BDs) Data containing Primary Name, Alias Name, IARD/CRD Number, SEC File Number, Addresses, Phone Numbers, Website Addresses, Assets Under Management, Fee Arrangements, Client Types, Affiliated Investment Adviser

Representatives or Affiliated Registered Representatives, State Registrations, Advisory Activities, Other Business Activities, Financial Industry Affiliations and Private Fund Reporting, Participation or Interest in Client Transactions, Custody information, Control Persons data, and Disclosure Information.

b. Investment Adviser Representatives (IARs) and Registered Representatives (RRs) Data containing Full Name, CRD Number, Address, Phone Number, Assets Under Management, Email Address, Current Firm Registration, Registration and Employment History, State Registrations, Industry Exams Passed, Affiliation data, and Customer Disputes, Disciplinary and Regulatory Events data.

5. Fund Distribution Data shall contain no less than the following:

a. General Data containing Total DC Distribution (includes share of total fund assets in DC plans and category averages), Contractor Distribution Rankings and Awards data, Consultants and Advisors data, Recordkeeper Distribution data, Geographic Breakdown, Distribution By Plan Size, Industry Distribution data, Investment Vehicle Breakdown data (such as value of assets held by investment vehicle type), Number of Plans, Average Plan Size, Average Plan Holding, Asset Class information, Total Menu information, and Fees and Revenue Sharing data.

b. Consultants and Advisors’ Name, Total Compensation, and Assets.

c. Recordkeepers’ Name, Total Assets, Distribution Shares, and Plan Count information.

6. Data Search Functionality shall contain no less than the following:

a. Funds Search Criteria by Distribution, Performance, Fees, Geography, and other Pertinent Information.

b. Asset Managers Search Criteria by Distribution, Geography, and other Pertinent Information.

c. Plans Search Criteria by Plan Ratings, Company information, Financial Data, Investment Menu, Participant Data, and Service Provider Information.

d. Service Provider Search Criteria by Distribution, Investment menu, Service Provider Information, and other Pertinent Information.

7. Miscellaneous EBSA specific needs:

a. One specific headquarter location for multi-location companies.

b. Spread of the assets into various specific geographic locations.

c. Specific indicators on Taft-Hartley plans.

The plan data should cover a significant portion of the ERISA plans filing Form 5500s, at least data on 30,000 to 40,000 Form 5500 filings employee benefit plans. Mapping to financial information through CRD numbers should be available for at least 9,000 entities.

E. Additional Data Elements (Not required, but will be factored into the evaluation of the overall product)

1. Welfare Plan Information

a. Fees associated with health and welfare plans.

b. Information on service providers (such as brokers and carriers) associated with welfare plans.

c. Data on the number of participants, premiums and plan funding.

2. Supplemental Financial Data

a. Integrating data from outside financial datasets (such as Preqin, Morningstar, Lipper, etc) in order to enhance reporting on assets and holdings listed in Form 5500 filings.

b. Information on alternative assets.

c. Data on Common/Collective Trusts and Master Trust Investment Accounts including their investments.

In addition, the contractor shall provide technical assistance during normal business hours. Further, the contractor shall designate both a technical and subject matter point of contact should EBSA require technical support or clarification regarding the data elements.

TASK 1: PROVIDE ACCESS TO SUBSCRIPTION AND TECHNICAL SUPPORT

Within two (2) weeks of the beginning of the performance period, the Contracting Officer’s Representative (COR) will send a list of users to the contractor who will then ensure all have access to the data subscription. The contractor will also then provide instructions for contacting technical support and any necessary training.

TECHNICAL EXHIBIT 1

Performance Requirements Summary The contractor service requirements are summarized into performance objectives that relate directly to mission essential items. The performance threshold briefly describes the minimum acceptable levels of service required for each requirement. These thresholds are critical to mission success.

Performance Objective

Standard Performance Threshold Method of Surveillance (and who performs) {e.g. 100% inspection by

COR}

The contractor shall provide access to the subscription data.

Contractor provides access to subscription during normal business hours. Government is given advance warning of any maintenance that will be performed during those hours.

COR makes no more than 2 valid written complaints during the period of performance.

Random Sampling – COR will compile data from users.

TECHNICAL EXHIBIT 2

Deliverables Schedule

Deliverable Frequency # of Copies Medium/Format Submit To Task 1 under Part 5, “Provide Access to Subscription and Technical Support”

Within two (2) weeks of beginning of the performance period.

N/A N/A T/A

TECHNICAL EXHIBIT 3

Estimated Workload Data

ITEM

NAME ESTIMATED QUANTITY

1 First License ________

2 Second License ________

3 Licensee 3-30 ________

4 Licensee 31-50

Total ________