Justification and Approval for Benefit Administration Services.pdf
PDF 397 KB Posted
- Attached to
- Benefit Administration Services Federal contract opportunity
- Solicitation number
- 16PBGC20C0018
- Issued by
- Pension Benefit Guaranty Corporation
About this file
This justification and approval document is for benefit administration services awarded to an unknown vendor by the Pension Benefit Guaranty Corporation on June 5, 2020 under solicitation number 16PBGC20C0018. The justification cites that the proposed contractor, WTW, has the current data, web portal, staff and plan expertise to continue administering benefits for approximately participants until the PBGC can transfer the work to its own systems and services. WTW is the only firm with experience managing this complex, diversified benefit program. Changing firms in the near term would disrupt pension payments and create significant delays and costs. The PBGC needs WTW's historic knowledge, benefit calculations, plan interpretation expertise, and ability to provide participant files and guidance on its proprietary benefit administration system until the PBGC can assume responsibility with its own resources. There are no alternatives that would ensure uninterrupted payments and avoid increased costs and Congressional oversight during a new procurement.
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Text version
(5) A DEMONSTRATION THAT THE PROPOSED CONTRACTOR'S UNIQUE
QUALIFICATIONS OR THE NATURE OF THE ACQUISITION REQUIRES
USE OF THE AUTHORITY CITED.
WTW has the current data, web portal, staff and plan expertise to continue administering benefits for approximately participants until such time that PBGC can transfer the work to its own systems and services.
WTW is the only firm with a proven track record of managing this highly complex and diversified benefit program.
Changing firms in the near term would disrupt management of the benefits and would create significant disruption and delays of pension payments to plan participants.
The Government needs all necessary supporting documents for benefit calculations from WTW until PBGC has the necessary staffing to assume the plans.
WTW has the historic knowledge to respond to questions on plan interpretation and plan practice.
WTW has the ability to provide contents of files for certain participants. This would include output generated by pension manager and detailed benefit calculations.
WTW has the knowledge and the ability to prepare narrowly focused databases extracted from its proprietary benefit administration system, Benefit Connect. For example, dates of birth for retirees and beneficiaries, dates of hire, dates of termination, etc.
WTW has the knowledge and the ability to provide guidance on how to navigate Benefit Connect and the data/file layout and structure.
The size, complexity, and diversity of the benefit payments would require a steep learning curve for other firms. Mitigating the associated risks requires a significant considering the long-term strategy to administer the plans with in-house resources.
There are no alternatives that would ensure PBGC meets mission requirements without critical interruptions to the payment of benefits, increase in Congressional oversight and a significant increase in cost given the time it would take to award and transition the services contract to another contractor while the procurement is being conducted.
File details come from the government source that posted it. Updated .