IV II Combined Synopsis Solicitation 1.0 Final.pdf

Combined Synopsis/Solicitation For

Investment Consultant Services

1. This is a combined synopsis/solicitation for commercial items and services prepared in accordance with the format in Subpart 12.6, as supplemented with additional information included in this notice. This announcement constitutes the only solicitation; proposals are being requested and a written solicitation will not be issued. This solicitation (TIB-2021- RFQ-0006) is being issued as a Request for Quotation. This notice and the incorporated provisions and clauses are those in effect through the Federal Acquisition Circular 2021-06.

2. All terms and conditions set forth below are anticipated to be incorporated into all resulting Blanket Purchase Agreement (BPA), although the Federal Retirement Thrift Investment Board (FRTIB) reserves the right to incorporate additional terms prior to agreement execution.

3. All responsible sources may submit a proposal. This combined synopsis & solicitation notice is a request for competitive quotations. Therefore, all complete responses received prior to the RFQ close date will be considered by the FRTIB.

4. The North American Industry Classification System (NAICS) code: 523930 – Investment

Advice. In accordance with Thrift Federal Acquisition Supplement (T-FAS), which describes the agency’s relationship with the Federal Acquisition Regulation, no set-aside has been established for this requirement.

5. SAM Registration and Certifications: Offerors must be registered in the System for Award

Management (SAM) website (SAM website accessed through http://www.acquisition.gov) to be considered for award. By submission of this proposal the Contractor acknowledges that it has on file, completed electronic annual representations and certifications contained at the System for Award Management (SAM) website

6. FAR Clauses 52.212-1 through 52.212-5 apply to this procurement. For the exact text and wording of clauses and provisions please see https://www.acquisition.gov/far/. See Attachment D for Agency Specific clauses expected to be incorporated into the resulting BPA award.

7. The Government contemplates awarding multiple BPAs with 10-year ordering periods resulting from this solicitation to the responsible offerors whose offers represent the best value in terms of non-price and price factors as defined in this RFQ.

8. Overview of Investment Consultant Blanket Purchase Agreement (BPA) http://www.acquisition.gov/ https://www.acquisition.gov/far/

The total estimated value for all awarded BPAs over the ten-year ordering period will be determined as a result of this competition outlined in this solicitation but shall not exceed the Simplified Acquisition Threshold per FAR part 2. There is no guaranteed minimum, and each order hereunder shall have no required minimum. It is emphasized that there are no intended nor implied guarantees regarding the Government's usage of this vehicle.

This Blanket Purchase Agreement is a non-binding agreement between the parties and either party may end the agreement at any time upon notification to the other party.

Call orders issue against this BPA are binding once issued and are enforceable.

There is no guarantee that a vendor will be awarded call orders once selected as an awardee of the BPA. The FRTIB is obligated only to the extent of authorized purchases/call orders actually made under the BPA.

Each individual call order may be valued up to but not exceed $2,000,000.00.

Offeror responses to FACTOR B will be incorporated in the resulting BPA and shall form the ceiling of labor rates for call orders that are issued as response to request for call orders.

Vendors are encouraged to provide additional discounts beyond those ceiling rates when competing for call orders if awarded a BPA. Not more often than annually, the Contracting Officer may reach out to confirm labor rates and to make adjustments as needed due to the market or like conditions.

9. All work under this BPA will be accomplished by individual Call orders as follows:

a. Procedures for issuance of call orders are as follows:

i. Orders at or below the micro-purchase threshold - FRTIB may place orders at or below the micro-purchase threshold with any BPA holder that can meet the agency needs. FRTIB’s micro-purchase threshold is $15,000. FRTIB will attempt to distribute any such orders among the BPA holders.

ii. In accordance with FAR 13.301 the Agency envisions the use of the

Government Purchase Card (GPC) as a means of executing and paying for call order pursuant to this BPA. At inception, FRTIB Contracting Officers are the only individuals designated with the authority in this matter. However, the Government reserves the right to designate additional individuals via written direction or modification to the resulting BPA.

b. Orders Exceeding the micro-purchase threshold but not exceeding the simplified acquisition threshold - For call orders more than the micro-purchase threshold, but not exceeding the simplified acquisition threshold (SAT), FRTIB intends to compete solely amongst the holders of BPAs awarded under this combined synopsis/solicitation. No additional notice will be provided on Beta.Sam, nor will any other quotes be considered.

c. FRTIB does anticipate orders placed under this Multiple Award BPA to exceed the micro-purchase threshold.

d. The time frame for responses shall be defined within each call order request. BPA holders are not required to a respond to each RFQ and are encouraged to notify the Government if their intent is not to respond. The FRTIB will strive to allot 15 days for a response to each RFQ, but reserves the right for shorter time frames if such need should arise.

e. The Contractor(s) may receive service call requests under the micro purchase threshold directly from the designated COR. Any request for quote beyond the micro purchase threshold will be solicited by the Contracting Officer.

f. The Contractor(s) shall prepare call order quotes requested by the COR and CO and provide it to both the FRTIB COR and CO.

g. The FRTIB Contracting Officer will provide the final approval to the vendor for all service call orders, unless otherwise delegated in writing. Authorization to begin work is not given until a call order is issued by the Contracting Officer.

h. The FRTIB will not reimburse vendors for proposal generation and submissions in response to an RFQ for a call order.

i. Each call order shall be funded individually and will be invoiced individually once awarded.

j. Terms and conditions defined in the BPA are considered incorporated by reference for each call order awarded against the agreement. The Government may incorporate additional terms and conditions in resulting BPA call orders. If additional terms and conditions are envisioned in a call order, it shall be established in the Request for Quote.

k. Call orders placed against this BPA shall only be placed using Firm Fixed Price or

Time and Material Methods as defined in FAR part 16.

l. Each call order shall contain a defined price/value and may not extend beyond a one-year period.

10. Background:

The Federal Retirement Thrift Investment Board (FRTIB), hereby known as Agency or Government is an independent Federal Agency in the Executive Branch created by the Federal Employees’ Retirement System Act of 1986 (FERSA) to administer the Thrift Savings Plan (TSP). The TSP is a daily-valued, participant-directed retirement savings and investment plan for Federal civilian employees and members of the uniformed services. It offers its participants the same type of saving and tax benefits that many private corporations offer their employees under 401(k) plans. The TSP is one portion of a Federal employee’s retirement, with Social Security and the FERS Defined Benefit comprising the other two pieces.

The FRTIB is an independent agency with no appropriations whose budget is based on administrative charges assessed to TSP participant account balances. The FRTIB has an independent Board of Directors. The Executive Director and the Board of Directors are plan fiduciaries. As of June 30, 2021, the TSP is the largest defined contribution plan in the world with over 6.3 million participants and assets of $773.3 billion.

The TSP has five core investment options. These options are created under FERSA and the details are shown below:

Fund Assets as of June 30, 2021 (billions) Asset Class Benchmark

Current Investment Manager

2020 Net Administrative

Fee (bps)

G Fund $264.5

Stable value/money market Not applicable FRTIB 4.9

F Fund $37.9

U.S.

Investment Grade Bonds

Bloomberg Barclays U.S.

Aggregate Bond Index

BlackRock Trust

Company 4.8

C Fund $292.0 U.S. Large Cap Stocks S&P 500 Index

BlackRock Trust

Company 4.9

S Fund $112.2

U.S. Small-and Mid-Cap Stocks

Dow Jones U.S.

Completion Total Stock Market Index

BlackRock Trust

Company 4.9

I Fund $66.7

International Developed Market Stocks

MSCI EAFE

Index

BlackRock Trust

Company 4.9

The FRTIB recognizes that the execution of some of its investment-related projects benefits from consultation with industry experts. Throughout the history of the TSP, investment consultants have provided a range of services, including but not limited to the following:

a. Quantitative analysis of expected outcomes for TSP participants (e.g., annual reviews of the L

Funds’ asset allocations)

b. Assessment of proposals by potential investment managers for the F, C, S, and I Funds

c. Reviews and recommendations pertaining to the TSP’s investment options and benchmarks

11. Objectives

This procurement supports the following objectives from the 2017-2021 Strategic Plan https://www.frtib.gov/ReadingRoom/StratPlan/FRTIBStrategicPlan-2017-2021.pdf:

a. Objective C3: Evaluate and reengineer business processes and associated performance standards for opportunities to improve efficiency, increase scalability, and facilitate straight-through processing

b. Objective D2: Formulate and implement plan design improvements that increase the likelihood that participants do not outlive their TSP assets.

12. Scope of Work

This agreement will provide a vehicle for obtaining services in support of investment policy making. This Statement of Work (SOW) provides for program management support services (to include requirements analysis, acquisition support, program planning and independent technical management support), specialized studies and analyses and functional validation and verification. The execution of these services will enable the FRTIB to conduct thorough and informed analysis of investment issues as they arise.

The agreement will be structured as a multiple award Blanket Purchase Agreement (“BPA”).

The Agreement will be implemented on a call order basis. Each call order will fall into one or more of the general categories of work defined below, but the depth that will be included in the orders is not described below and shall be individually defined. The categories below are general in nature, however specific calls may be a combination of categories listed below.

Individual call orders will detail the extent to which each element described will be required.

a. Tasks (General Categories)

i. Investment Policy Evaluation and Design: Develop policy frameworks and guidelines that accurately reflect the objectives of the FRTIB; address any legislation that impacts the investment policy; address any Board requests for analysis and research.

ii. Portfolio Governance and Portfolio Manager Evaluation: Assist the Board in meeting its fiduciary responsibilities with regard to the prudent allocation of the organization’s assets based on the specific unique objectives of the organization and its investment mandate. Assist in the development of the appropriate criteria to consider in selecting investment managers.

https://www.frtib.gov/ReadingRoom/StratPlan/FRTIBStrategicPlan-2017-2021.pdf

iii. Investment Option Review and Evaluation: Review current investment options for appropriateness and role in fulfilling investment policy goals.

iv. Investment Manager Search: Assist the Board and senior executives to develop objective criteria to evaluated potential managers. Potential investment managers are invited to submit proposals through a Request for Proposal process. These responses are evaluated against the objective criteria that have been previously established.

v. Benchmarking and Participant Behavior: Analyze and research customary and best practices within defined contribution plans with regard to their features, their service providers, their use of technology and their techniques to encourage and enhance adoption and use of their plans by participants.

Upon request provide advice on participant communication and education that can help participants make informed decisions. Work with the FRTIB and senior executives to recommend changes to the Board if needed.

vi. Operational Issues and Efficiency: Perform research and analyze alternative methods of meeting the FRTIB’s operational needs to best serve the participants.

vii. L Funds Asset Allocation and Glide Path Analysis: Perform analysis of the current glide paths and alternatives. Recommend, if appropriate, changes to the Lifecycle Fund glide path(s) and provide a comprehensive quarterly schedule of the revised target asset allocations.

viii. Generalized Consulting Related to Defined Contribution Plans: In addition to the investment activities described above, vendors selected under this procurement may have the opportunity to assist FRTIB as it addresses other aspects of administering a defined contribution plan. Such opportunities may include analyzing the size and frequency of plan fees and studying best practices among recordkeepers.

13. Contracting Officer (CO)

1. Responsibility for contracting activities rests solely with the Agency’s CO. No conversation, recommendations, or direction, whether given directly by, or implied by Agency personnel, that will affect the scope, schedule, or price of the program, shall be acted upon by the Contractor unless specifically approved by the Agency CO. In the event that the Contractor implements changes to the contract at the direction of any person other than the CO, the Contractor will not receive reimbursement for the work performed pursuant to those unauthorized changes. Contractual interpretation and assistance may be obtained by contacting the CO.

2. Contracting Officer Point of Contact

Name: Mark Chranowski

Phone: 202-819-2014 Email: Mark.Chranowski@frtib.Gov

14. Contracting Officer Representative (COR)

1. The CO shall designate a COR, who is responsible for administering the performance under the contract by:

a. Monitoring the Contractor’s performance

b. Assessing performance

c. Recommending changes to the CO

d. Interpreting the scope of work

e. Performing inspection and acceptance

2. Contracting Officer Representative Point of Contact

Name:

Phone:

Email:

15. Invoices

a. Electronic Invoicing and Payment Requirements – Invoice Processing Platform (IPP) (Jan 2019)

Payment request must be submitted electronically through the U.S. Department of Treasury’s Invoice Processing Platform (IPP) system using the “Bill to Agency” of Interior Business Center

– FMD. “Payment request” means any request for contract financing payment or invoice payment by the Contractor. Any changes to submitted invoice (short‐pay or withhold) will require resubmission of invoice with revised amount. To constitute a proper invoice, the payment request must comply with the requirements identified in the applicable Prompt Payment clause included in the contract, or the clause 52.212‐4 Contract Terms and Conditions – Commercial Items include in commercial item contracts. The IPP website address is: https://www.ipp.gov.

The Contractor must use the IPP website to register, access and use IPP for submitting requests for payment. The Contractor must attach invoices in IPP. The Contractor Government Business Point of Contact (as listed in SAM) will receive enrollment instructions via email from the Federal Reserve prior to the contract award date, but no more than 3 – 5 business days of the contract award date.

Contractor assistance with enrollment can be obtained by contacting the IPP Production Helpdesk via email IPPCustomerSupport@fiscal.treasury.gov or phone (866) 973-3131.

If the Contractor is unable to comply with the requirements to use IPP for submitting invoices for payment, the Contractor must submit a waiver request in writing to the Contracting Officer with its proposal or quotation.

mailto:Mark.Chranowski@frtib.Gov

b. Oracle Supplier Request Form

All contractors shall provide the “Oracle Supplier Request Form” to the FRTIB must fill in the highlighted items on the form, or a substantially similar form, containing the highlighted fields of the Oracle Supplier Request Form, and submit it to the Contracting Officer within 3 business days after BPA Award.

16. Legal Holidays: The following Federal holidays are observed by the Agency:

Table G-01 Legal Holidays

Holiday Date New Year's Day January 1 Martin Luther King's Birthday Third Monday in January President's Day Third Monday in February Memorial Day Last Monday in May Juneteenth National Independence Day June 19, as observed Independence Day July 4, as observed Labor Day First Monday in September Columbus Day Second Monday in October Veteran's Day November 11, as observed Thanksgiving Day Fourth Thursday in November Christmas Day December 25

17. Evaluation Factors:

The following factors have been established for this RFQ and are provided in no order of preference and should not be read to describe their weighting or significance in the best value evaluation process:

a. Company Overview & Past Performance Narrative;

b. Pricelist reflecting labor rates, mix and fee identification as applicable; and,

c. Sample Task Order Submission;

18. Instructions to Offerors:

The following instructions are provided to vendor when responding to the Evaluation Factors set forth in this solicitation.

FACTOR A. Company Overview & Past Performance Narrative: Vendors shall provide an overview of their organization and their past performance that are consistent with the services that are being requested. It is the vendors responsibility to convey how their organization could assist and enhance the FRTIB through the services they provide.

Offerors shall clearly denote how their organization’s experience, familiarity, resources, and expertise is consistent with the FRTIB's work in size, scale, and scope. Further, how the of offeror’s expertise will provide premier insight to the Agency when considering those services outlined in this solicitation.

The offeror’s response to this factor is limited to five (5) pages, and must be submitted in Microsoft Word or Adobe Format.

FACTOR B. Pricelist reflecting labor rates, mix and fee identification as applicable:

Offerors shall provide a price list of their labor rates, mix and fee, as applicable, to form the basis of the resulting award price schedule should the vendor be selected. The offeror must propose by labor category and not a blended rate incorporating multiple rates.

The offeror’s response to this factor must be in Microsoft Excel Format.

FACTOR C. Sample Task Order Submission; Each vendor shall provide a sample RFQ response to Attachment A: 2021 L Fund Asset Allocation. Attachment A is provided as a sample of a prior task offered to vendors for Investment Consultant services and will not be used to award a resulting order.

The offeror’s responses must be in Adobe Format.

19. Evaluation of Quotations:

Offers will be evaluated pursuant the parameters set forth in FAR 13.106-2 when considering the factors set forth in the solicitation. When evaluating proposals, each offerors submission will be evaluated both for its responsiveness to the instructions contained within the solicitation and the best value it represents to the Government. Evaluation may include but are not limited to comparative analysis of proposals.

Based upon the FRTIB’s evaluation, up to the top ten (10) offerors who respond to this solicitation may be offered a BPA and enter the eligible of vendors. The FRTIB reserves the right to award less than ten (10) BPAs should it be in the Government’s best interest.

20. Offers submitted in response to this solicitation must be valid for 90 days and must state so in the offeror’s proposal submission.

21. Offers are due on August 9, 2021 2:00 PM EST. All questions/inquiries must be submitted to the contract officer via electronic mail (e-mail) not later than 3:00 PM EST on July 30, 2021. Inquiries submitted via telephone calls will be re-directed to an e-mail submission.

Submit offers or any questions to the attention via email to: Mark.Chranowski@frtib.gov, respectively. Offerors who fail to complete and submit the requirements above may be considered non-responsive.

mailto:Mark.Chranowski@frtib.gov

Attachments:

DOCUMENT

TYPE

DESCRIPTION

Attachment A 2021 L Fund Asset Allocation Attachment B Non-Disclosure Agreement (Contractor and Contractor Employee)

(Attached Separately) Attachment C Oracle Form (Attached Separately) Attachment D Agency Specific Clauses for Resulting BPA

Attachment A 2021 L Fund Asset Allocation

1. BACKGROUND

The FRTIB is seeking to award a Call Order to an investment consultant to conduct a review of asset allocations for its Lifecycle Funds.

2. OBJECTIVE

The purpose of this Call Order requirement is to review the current asset allocation and glide path of each of the Lifecycle Funds and determine if there is a scenario that would likely improve outcomes for Federal Employees Retirement System (FERS) participants.

This Call Order Request for Quote is being issued to all Contractors under the Multiple Award BPA.

3. REQUIREMENTS

• Analyze demographic information provided for TSP participants, focusing on building a profile of FERS employees (i.e., civilians) who invest in the L Funds.

Since the launch of the Blended Retirement System (BRS) on January 1, 2018, new members of the Uniformed Services (US) have been automatically enrolled in the TSP. Although these US participants represent a large and growing segment of the population, their tendency to separate from service at a relatively young age makes it difficult to model their retirement outcomes with precision. For this reason, only FERS participants invested in the L Funds will be considered in the demographic analysis.

• Using only the TSP G, F, C, S, and I Funds, discuss alternative glide path scenarios with FRTIB staff and reach agreement on scenarios to be tested. There will be 8-12 scenarios overall, including the unchanged glide path scenario as a possible choice.

(A scenario consists of one glide path for each of the following L Funds: L Income, L 2025, L 2030, L 2035, L 2040, L 2045, L 2050, L 2055, L 2060, and L 2065.)

Scenarios may differ in any or all of the following aspects: relative weights assigned to the G, F, C, S, and I Funds, ratio of overall equity to overall fixed income, slope of the glide paths, and terminal point of the glide paths (i.e., “to retirement” and “through retirement” approaches). The glide paths should adjust to new target allocations on a quarterly basis. If requested, show positioning of new Fund portfolio allocations relative to the efficient frontier.

• Use stochastic modeling to generate simulated outcomes under the scenarios. Provide analysis of the following findings to illustrate the risk/return trade-offs of the aforementioned scenarios:

o The ability of the average FERS participant in each L Fund to generate retirement income. Analysis should reflect the overall replacement rate (i.e., the sum of TSP, Social Security, and the FERS defined benefit). Analysis should show a range of account balances and replacement ratios at the 5th, 25th, 50th, 75th and 95th percentile levels.

o The ability of the average FERS participant in each L Fund to preserve capital. Analysis should show likelihood of loss and probability of negative returns in final two (2) years before retirement.

o The likelihood of account depletion in retirement for the average FERS participant in each L Fund. Analysis should include expected account drawdown age.

o The probability of the account balance surviving to life expectancy for the average FERS participant in each L Fund.

• Discuss the trade-offs of “to” and “through” approaches, citing simulated results from the aforementioned scenarios.

• Provide a review of the universe of target date funds competitive landscape, with a focus on target date funds be used in defined contribution plans similar to the TSP.

The review should include the risk weightings of growth assets similar to those in the TSP as well as performance comparisons over short, intermediate, and long time periods, if reasonably available.

• Provide other analysis and information as deemed relevant to the decision-making process by the investment consultant.

4. DELIVERABLE SCHEDULE / PERFORMANCE

The contractor, as an independent contractor and not as an agent of the Agency, will provide the necessary resources (except for those identified as Agency Furnished property) to support the following deliverables:

DELIVERABLES SCHEDULE

Deliverable Due Date Comments

Detailed review of your firm’s intermediate (if available) and long term economic and capital market assumptions, including inflation.

Not later than 30 business days after the start of the period of performance.

Analysis will be submitted by e-mail and reviewed and approved by e-mail or phone prior to further analysis.

A return and risk analysis for each of the TSP G, F, C, S, and I Funds, including expected mean rates of return, standard deviation of returns, and a correlation matrix for the Funds.

Not later than 40 business days after the start of the period of performance.

Analysis will be submitted by e-mail and reviewed and approved by e-mail or phone with FRTIB staff.

Analyze and compare the Not later than 40 business days Analysis will be submitted by current portfolios to the efficient frontier. Constraints on assets in optimization, if deemed necessary, are subject to approval by FRTIB.

after the start of the period of performance.

email and reviewed and approved by e-mail or phone with FRTIB staff.

Detailed PowerPoint presentation draft of the analysis and results of the aforementioned “requirements” as well as the “deliverables” enumerated above.

Not later than 60 business days after the start of the period of performance.

Draft PowerPoint presentation submitted by email and subject to review and preliminary approval by e-mail or phone.

Draft may undergo multiple revisions prior to final.

Two (2) Power Point presentations: A Final PowerPoint presentation of the above deliverable (final results) and an executive length PowerPoint Board-ready presentation.

Not later than 100 business days after the start of the period of performance.

The two (2) PowerPoint presentations will be submitted by email and subject to final approval.

Glide paths spreadsheet, including glide paths for each of the L Funds

If necessary and as a result of proposed and adopted glide paths and glide path changes, no later than two (2) weeks after submission of the final Board PowerPoint presentation, or if specifically requested. Note:

May be requested earlier.

Glide paths spreadsheet in Excel submitted via e-mail.

FRTIB Board presentation, if required: Executive length PowerPoint presentation made in person, if required by the FRTIB.

Board meeting date is to be determined (TBD) by FRTIB

Two (2) senior consultants with appropriate technical knowledge to explain the analysis and results as well as answer questions.

Progress Meetings As scheduled, estimated 5 – 30 minutes, at least once per week, unless waived by FRTIB.

Weekly

The consultant chosen will be expected to meet the deliverables specified above in the identified timetable. Modifications to the deliverables timetable may be granted at FRTIB discretion.

NOTE: All deliverables for this task order become the property of the FRTIB and may be shown or distributed to others internal or external to the FRTIB at the discretion of the

FRTIB.

1. PERIOD OF PERFORMANCE

The period of performance will begin on a date designated by the FRTIB once the task order has been signed and delivered to the FRTIB. It is currently anticipated that the designated start date will fall on 1 September 2021. The period of performance will conclude 100 business days after the designated start date.

2. PLACE OF PERFORMANCE

The contractor will perform tasks under this task order at Contractor facilities

5. CONTRACT ADMINISTRATION

1. TRAVEL

Travel will be required for this task order. Two senior consultants will attend a meeting of the FRTIB Board in person and, if desired by the FRTIB, will present their findings, as discussed in Section 4 - Deliverables.

Unless specified differently in an individual call order, performance shall be conducted at the offerors’ work site. If an individual call order does require travel, the Contractor shall obtain approval from the COR prior to traveling. Costs incurred for transportation and per diem expenses (lodging, meals and incidental expenses) will be in accordance with the regulatory implementation of Public Law 99-234, FAR 31.205-46 Travel Costs, and the Contractor’s cost accounting system. The Contractor is responsible for making all necessary travel arrangements.

2. REPORTING REQUIREMENTS

Progress meetings will be scheduled for once per week for 5 – 30 minutes and as needed until reports are complete and or FRTIB determines they are no longer necessary. Progress discussions, tasks, and deliverables will be documented as they occur.

3. SECURITY REQUIREMENTS

None

4. AGENCY FURNISHED PROPERTY AND INFORMATION

No Agency Furnished Property will be provided to the Contractor.

6. ATTACHMENTS

1) None

7. BASIS OF CALL ORDER AWARD

Selection of Call Order award will be based on the FRTIB’s determination of best value.

Offerors should provide a detailed explanation of the methodology and approach for the tasks and deliverables requirements specified above as well as the firms’ general philosophy for conducting a study such as this and developing glide paths for a plan such as the TSP. To aid with an understanding of expectations, past reports presented to the Board in March 2020, September 2018, November 2017, November 2016, and October 2015 may be found in the “Meeting Minutes” section of www.frtib.gov. The aforementioned reports should be used for informational purposes only and not necessarily as a guide to how anyone offeror’s study should be formatted or conducted or as an indication of desired results. Methodology and comparative analysis are left to the selected Offeror.

Note that the availability and type of demographic information can change over time and may differ from year to year. The ability to work with changing or incomplete demographic information is important.

1. EVALUATION

There are three (3) evaluation factors; technical analysis, schedule and price.

Technical analysis will be weighed most significantly. Price is second in order of importance. Schedule will be reviewed for Offerors’ ability to deliver results according to the specified timetable. An inability to meet the schedule will deem Offerors unacceptable for award. For the technical analysis, Offerors’ technical response will be evaluated and assigned an Adjectival Rating of one of the following:

Outstanding, Good, Acceptable, Marginal, and Unacceptable. Definitions for the Adjectival Ratings are shown below. The Agency will consider the three evaluation factors in arriving at an overall best value ranking. The TO award determination will be based on the Offeror’s quote that provides the overall best value for the FRTIB.

RFQ responses shall not exceed 25 pages, including any written response, illustrations, and exhibits.

Adjectival Rating Definitions Outstanding Quote/Proposal meets requirements and indicates an exceptional approach or understanding of the requirements. Strengths far outweigh any weaknesses. Risk of unsuccessful performance is very low.

Good Quote/Proposal meets requirements and indicates a thorough approach or understanding of the requirements. Proposal contains strengths which outweigh any weaknesses. Risk of unsuccessful performance is low.

Acceptable Quote/Proposal meets requirements and indicates an adequate approach and understanding of the requirement. Strengths and weaknesses are offsetting or will have little or no impact on contract performance. Risk of unsuccessful performance is no worse than moderate.

Marginal Quote/Proposal does not clearly meet requirements or has not http://www.frtib.gov/

2. EVALUATION FACTOR 1 – TECHNICAL ANALYSIS

Technical Analysis is comprised of four (4) areas. These are: 1) Organization; 2) Staff; 3) Analysis, soundness of approach, comprehension of the issues facing the FRTIB, and philosophical alignment with the FRTIB; and 4) Prior Experience.

Offerors shall address each area under this factor as outlined below:

1. Organization

a. Offerors shall demonstrate their organizations’ resources and experience with regard to this particular assignment for the FRTIB. In particular, they shall demonstrate their:

i. capability to conduct asset allocation studies for the purpose of arriving at recommended glide paths for target date (or lifecycle) funds

ii. capability to work with plan population demographic information, including situations for which information is incomplete or inconsistent

iii. access to peer data on plan design, performance, and overall market information

2. Staff

a. Offerors shall provide information on the staff they expect to assign to this task for the FRTIB, by name and capacity.

3. Analysis, soundness of approach, comprehension of the issues facing the FRTIB, and philosophical alignment with the FRTIB

a. Offerors shall discuss their methodology and approach for conducting this specific FRTIB review, as well as general philosophy for conducting target date fund glide path asset allocation reviews.

4. Prior Experience

a. Offerors shall provide brief summaries of two (2) specific target date

(or lifecycle) fund studies conducted in the past ten years for defined contribution plans of significant size, describing the assignment, the approach, and solutions provided. Limit each summary to two (2) pages.

demonstrated an adequate approach and understanding of the requirements. The proposal has one or more weaknesses that are not offset by strengths. Risk of unsuccessful contract performance is high.

Unacceptable Quote/Proposal does not meet the requirements and contains one or more deficiencies. Proposal is un-awardable.

3. EVALUATION FACTOR 2 – SCHEDULE

Offerors shall demonstrate the ability to meet schedule in accordance with the deliverable dates as stated in 4.0 of the task order RFQ.

4. EVALUATION FACTOR 3 – PRICE

Offerors shall provide pricing information in the price/cost chart of this task order RFQ in accordance with the labor rates in Offerors’ base IDIQ contract. This task order is awarded on the basis of firm fixed price as quoted by the contractor.

9. BPA CALL LABOR DISTRIBUTION AND PRICE

PRICE/COST

ITEM

NO.

SERVICE QTY

UNIT OF

ISSUE

UNIT

PRICE

ESTIMATED

TOTAL PRICE

0001 Report of review and evaluation of manager proposals (See below requirement tasks)

HRS $ $

0002 Travel- One or Two (2) senior consultants for FRTIB Board presentation), if required by FRTIB

1 LO If travel is needed the allocation for travel shall not exceed $ 2,000.00

Note: Contractor may not edit this amount.

TOTAL $

Attachment D Agency Specific Clauses for Resulting BPA

Section H: Special Contract Requirements H.1 Safeguarding Controlled Unclassified Information (CUI) (JULY 2020)

(a) Definitions. As used in this clause—

“Adequate security” means protective measures that are commensurate with the consequences and probability of loss, misuse, or unauthorized access to, or modification of information.

“Covered contractor information system” means an unclassified information system that is owned, or operated by or for, a contractor and that processes, stores, or transmits Controlled Unclassified Information.

“Controlled Unclassified Information” means unclassified controlled technical information or other information, as described in the Controlled Unclassified Information Registry at http://www.archives.gov/cui/registry/category-list.html, that requires safeguarding or dissemination controls pursuant to and consistent with law, regulations, and Government-wide policies, and is—

(1) Marked or otherwise identified in the contract, task order, or delivery order and provided to the contractor by or on behalf of FRTIB in support of the performance of the contract; or

(2) Collected, developed, received, transmitted, used, or stored by or on behalf of the contractor in support of the performance of the contract.

“Computer software” means computer programs, source code, source code listings, object code listings, design details, algorithms, processes, flow charts, formulae and related material that would enable the software to be reproduced, recreated, or recompiled. Computer software does not include computer data bases or computer software documentation.

“Information system” means a discrete set of information resources organized for the collection, processing, maintenance, use, sharing, dissemination, or disposition of information.

“Technical information” means technical data or computer software, as those terms are defined in this clauses--Noncommercial Items, regardless of whether or not the clause is incorporated in this solicitation or contract. Examples of technical information include research and engineering data, engineering drawings, and associated lists, specifications, standards, process sheets, manuals, technical reports, technical orders, catalog-item identifications, data sets, studies and analyses and related information, and computer software executable code and source code.

“Technical data” means recorded information, regardless of the form or method of the recording, of a scientific or technical nature (including computer software documentation). The term does not include computer software or data incidental to contract administration, such as financial and/or management information.

http://www.archives.gov/cui/registry/category-list.html

(b) Adequate security. The Contractor shall provide adequate security on all covered contractor information systems. To provide adequate security, the Contractor shall implement, at a minimum, the following information security protections:

(1) For covered contractor information systems that are part of and Information Technology (IT) service or system operated on behalf of the Government, the following security requirements apply:

(i) Cloud computing services shall be subject to the security requirements specified in the Cloud Computing Services clause of this contract.

(ii) Any other such IT service or system (i.e., other than cloud computing) shall be subject to the security requirements specified elsewhere in this contract.

(2) For covered contractor information systems that are not part of an IT service or system operated on behalf of the Government and therefore are not subject to the security requirement specified at paragraph (b)(1) of this clause, the following security requirements apply:

(i) Except as provided in paragraph (b)(2)(ii) of this clause, the covered contractor information system shall be subject to the security requirements in National Institute of Standards and Technology (NIST) Special Publication (SP) 800-171, “Protecting Controlled Unclassified Information in Nonfederal Information Systems and Organizations” (available via the internet at https://csrc.nist.gov/publications/detail/sp/800-171/rev-2/final) in effect at the time the solicitation is issued or as authorized by the Contracting Officer.

(ii)

(A) The Contractor shall notify the FRTIB Chief Information Security Officer (CISO), via email, within 30 days of contract award, of any security requirements specified by NIST SP 800-171 not implemented at the time of contract award.

(B) The Contractor shall submit requests to vary from NIST SP 800-171 in writing to the Contracting Officer, for consideration by the FRTIB Chief Technology Officer (CTO) or CISO. The Contractor need not implement any security requirement adjudicated by an authorized representative of the FRTIB CTO to be non-applicable or to have an alternative, but equally effective, security measure that may be implemented in its place. FRTIB acknowledges its understanding and acceptance of the variance that at the time of the execution of this contract the Contractor does not provide insider threat training but will use good faith efforts to put such training in place.

(C) If the FRTIB CTO has previously adjudicated the contractor’s requests indicating that a requirement is not applicable or that an alternative security measure is equally effective, a copy of that approval shall be provided to the Contracting Officer when requesting its recognition under this contract.

https://csrc.nist.gov/publications/detail/sp/800-171/rev-2/final

(D) If the Contractor intends to use an external cloud service provider to store, process, or transmit any covered information in performance of this contract, the Contractor shall require and ensure that the cloud service provider meets security requirements equivalent to those established by the Government for the Federal Risk and Authorization Management Program (FedRAMP) Moderate baseline (https://www.fedramp.gov/resources/documents/) and that the cloud service provider complies with requirements in the clause for Cyber Incident Reporting, including malicious software, media preservation and protection, access to additional information and equipment necessary for forensic analysis, and cyber incident damage assessment.

(3) Apply other information systems security measures when the Contractor reasonably determines that information systems security measures. These measures may be addressed in a system security plan.

(c) The contractor shall provide access to the Contractor’s facilities, personnel and information system documentation for the purposes of audit or inspection by an authorized regulator or designated security certification activity to ensure appropriate information security practices are in place.

(d) The Contractor shall conduct activities under this clause in accordance with applicable laws and regulations on the interception, monitoring, access, use, and disclosure of electronic communications and data.

(e) Other safeguarding or reporting requirements. The safeguarding and cyber incident reporting required by this clause in no way abrogates the Contractor’s responsibility for other safeguarding or cyber incident reporting pertaining to its unclassified information systems as required by other applicable clauses of this contract, or as a result of other applicable U.S. Government statutory or regulatory requirements.

(f) Subcontracts. The Contractor shall—

(1) Include this clause, including this paragraph, in subcontracts, or similar contractual instruments, for operationally critical support, or for which subcontract performance will involve Controlled Unclassified Information, including subcontracts for commercial items, without alteration, except to identify the parties. The Contractor shall determine if the information required for subcontractor performance retains its identity as Controlled Unclassified Information and will require protection under this clause, and, if necessary, consult with the Contracting Officer; and

(2) Require subcontractors to notify the prime Contractor (or next higher-tier subcontractor) when submitting a request to vary from a NIST SP 800-171 security requirement to the Contracting Officer, in accordance with paragraph (b)(2)(ii)(B) of this clause.

(End of Clause) https://www.fedramp.gov/resources/documents/

H.2 Compliance with Controls for Safeguarding Controlled Unclassified Information (CUI)

(JULY 2020)

(a) Definitions. As used in this provision—

“Controlled Unclassified Information (CUI),” “covered contractor information system,” “cyber incident,” “information system,” and “technical information” are defined in clause H.1, Safeguarding Controlled Unclassified Information (CUI) and H.6, Cyber Incident Reporting.

(b) The security requirements required by contract clause H.2, Safeguarding Controlled Unclassified Information (CUI) and Cyber Incident Reporting, shall be implemented for all Controlled Unclassified Information (CUI) on all covered contractor information systems that support the performance of this contract.

(c) For covered contractor information systems that are not part of an information technology service or system operated on behalf of the Government (see (b)(2) of clause H.1, Safeguarding Controlled Unclassified Information (CUI) and H.6 - Cyber Incident Reporting.

(1) By submission of this offer, the Offeror represents that it will implement the security requirements specified by National Institute of Standards and Technology (NIST) Special Publication (SP) 800-171 “Protecting Controlled Unclassified Information (CUI) in Nonfederal Information Systems and Organizations” (see http://dx.doi.org/10.6028/NIST.SP.800-171) that are in effect at the time the solicitation is issued or as authorized by the contracting officer.

(2) If the Offeror proposes to vary from any of the security requirements specified by NIST SP 800-171 that are in effect at the time the solicitation is issued or as authorized by the Contracting Officer, the Offeror shall submit to the Contracting Officer, for consideration by the CISO, a written explanation of —

(i) Why a particular security requirement is not applicable; or

(ii) How an alternative but equally effective, security measure is used to compensate for the inability to satisfy a particular requirement and achieve equivalent protection.

(3) An authorized representative of the FRTIB CISO or Security Division will adjudicate offeror requests to vary from NIST SP 800-171 requirements in writing prior to contract award. Any accepted variance from NIST SP 800-171 shall be incorporated into the resulting contract.

H.3 RESERVED

http://dx.doi.org/10.6028/NIST.SP.800-171

H.4 RESERVED

H.5 RESERVED

H.6 Cyber Incident Reporting (JULY 2020)

(a) Definitions. As used in this clause—

“Breach” means the loss of control, compromise, unauthorized disclosure, unauthorized acquisition, or any similar occurrence where (1) a person other than an authorized user accesses or potentially accesses personally identifiable information or (2) an authorized user accesses or potentially accesses personally identifiable information for an other than authorized purpose. A Breach is also considered an incident.

“Compromise” means disclosure of information to unauthorized persons, or a violation of the security policy of a system, in which unauthorized intentional or unintentional disclosure, modification, destruction, or loss of an object, or the copying of information to unauthorized media may have occurred.

“Computer software” means computer programs, source code, source code listings, object code listings, design details, algorithms, processes, flow charts, formulae and related material that would enable the software to be reproduced, recreated, or recompiled. Computer software does not include computer data bases or computer software documentation.

“Cyber incident” means an incident occurring through the use of computer networks that result in an actual or potentially adverse effect on an information system and/or the information residing therein.

“Forensic analysis” means the practice of gathering, retaining, and analyzing computer-related data for investigative purposes in a manner that maintains the integrity of the data.

“Incident” means an occurrence that actually or imminently jeopardizes, without lawful authority, the confidentiality, integrity, or availability of FRTIB’s information or an FRTIB information system; or constitutes a violation or imminent threat of violation of law, security policies, security procedures, or acceptable use policies with respect to FRTIB’s information or an FRTIB information system.

“Malicious software” means computer software or firmware intended to perform an unauthorized process that will have adverse impact on the confidentiality, integrity, or availability of an information system. This definition includes a virus, worm, Trojan horse, or other code-based entity that infects a host, as well as spyware and some forms of adware.

“Media” means physical devices or writing surfaces including, but is not limited to, magnetic tapes, optical disks, magnetic disks, large-scale integration memory chips, and printouts onto which controlled unclassified Information is recorded, stored, or printed within a covered contractor information system.

“Information system” means a discrete set of information resources organized for the collection, processing, maintenance, use, sharing, dissemination, or disposition of information.

“Rapidly report” means within one (1) hour of first becoming aware of an incident or a Breach or within one (1) hour of determining with reasonable certainty that there has been an incident or a Breach involving FRTIB data."

(b) Cyber incident reporting requirement.

(1) When the Contractor discovers a cyber incident or breach that affects a covered contractor information system or the controlled unclassified information residing therein, or that affects the contractor’s ability to perform the requirements of the contract that are designated as operationally critical support and identified in the contract, the

Contractor shall—

(i) Rapidly report cyber incidents to FRTIB at IncidentResponse@tsp.gov; and

(ii) Require training for contractors and subcontractors on how to identify and report an incident or breach;

(iii) Conduct a review for evidence of compromise of Controlled Unclassified Information, including, but not limited to, identifying compromised computers, servers, specific data, and user accounts, in identifying what information was or may have been accessed and by whom, creating timelines of user activity, determining…