B-Pricing_Schedule_9Apr14_Final.docx
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- Attached to
- Custodian Banking Services Federal contract opportunity
- Solicitation number
- PBGC01-RP-14-0007
- Issued by
- Pension Benefit Guaranty Corporation
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The Contractor shall provide the personnel, facilities, and other materials and services necessary to perform the effort described in Section C, the Statement of Work.
SECTION B.2 Custodian Banking Services Pricing
The contract type is a combination Firm-Fixed-Price (FFP) and Fixed Rate/Variable Quantity (FRVQ) effort. Offerors shall provide prices for Menu Based Services and Optional Services, as shown in Sections B.3 and B.5.
PBGC has provided pricing assumptions in Sections B.6 and B.7 of the solicitation. These assumptions should be used by the offerors in calculating a total annual price for each service listed in the pricing schedule as well as a total annual price for each year of the contract. The offerors’ total annual price per year of the contract as well as annual price per service will be used for price evaluation purposes only. The pricing assumptions provided by PBGC in the solicitation are not indicative of the work the offerors can expect to receive on an annual basis under this contract. The offerors’ are required to provide a fixed fee or rate for each menu based service and optional service listed in Section B of the contract and an annual firm-fixed-price for the on-site consultant services. The offeror’s proposed fixed fee or fixed rate for the menu based and optional services and the offeror’s on-site consultant service firm-fixed-prices shall be incorporated into the final contract upon award. A “Not to Exceed” value of $75,000 is provided by PBGC for Other Direct Costs. The Agency may elect not to exercise an optional Contract Line Item Number (CLIN), but this decision would not impact the Agency’s right to exercise an optional CLIN in other (or future) option periods. The Total Ceiling Price will be determined at the time of award and stated in Section B of the resulting contract. Additionally, the exact dates for the Period of Performance will be determined at time of award.
Note:
The period of performance for this procurement is a one-year base period with four one-year option periods. However, the Government reserves the right to award a contract with a period of performance of a one-year base period and nine one-year option periods. Therefore, Offerors are required to submit pricing proposals for both periods of performance: (1) one-year base period with four option year periods and (2) one-year base period with nine option year periods.
The pricing assumptions provided in this solicitatation shall be applied to both pricing proposals. Further, the pricing assumptions apply to all years of the contract and should not be adjusted for inflation. The only pricing changes proposed in the option years shall be the assumed increases in the proposed fixed fee or rates. All optional services must be priced in order for the proposal to be evaluated.
Price Proposal 1 - Pricing schedule for One Base Year and Four One Year Option Periods
Base Year Period of Performance (POP) for CLIN 0001: August 1, 2014 – July 31, 2015 Base Year - Custodian Banking Services in accordance with the SOW
| CLIN 0001 Menu Based Services (FRVQ) | 1 Lot $ ________ | |
| CLIN 0002 On-Site Consultant (FFP) | 1 YR $ ________ | |
| CLIN 0003 Optional Services (FRVQ) | 1 Lot $ ________ | |
| CLIN 0004 Other Direct Costs Not to Exceed (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year One Period of Performance for CLIN 1001: August 1, 2015 – July 31, 2016 Option Year One - Custodian Banking Services in accordance with the SOW
| CLIN 1001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 1002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 1003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 1004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Two Period of Performance for CLIN 2001: August 1, 2016 – July 31, 2017 Option Year Two - Custodian Banking Services in accordance with the SOW
| CLIN 2001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 2002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 2003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 2004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Three Period of Performance for CLIN 3001: August 1, 2017 – July 31, 2018 Option Year Three - Custodian Banking Services in accordance with the SOW
| CLIN 3001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 3002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 3003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 3004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Four Period of Performance for CLIN 4001: August 1, 2018 – July 31, 2019 Option Year Four - Custodian Banking Services in accordance with the SOW
| CLIN 4001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 4002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 4003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 4004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Price Proposal 2 - Pricing schedule for One Base Year and Nine One Year Option Periods
Base Year Period of Performance (POP) for CLIN 0001: August 1, 2014 – July 31, 2015 Base Year - Custodian Banking Services in accordance with the SOW
| CLIN 0001 Menu Based Services (FRVQ) | 1 Lot $ ________ | |
| CLIN 0002 On-Site Consultant (FFP) | 1 YR $ ________ | |
| CLIN 0003 Optional Services (FRVQ) | 1 Lot $ ________ | |
| CLIN 0004 Other Direct Costs Not to Exceed (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year One Period of Performance for CLIN 1001: August 1, 2015 – July 31, 2016 Option Year One - Custodian Banking Services in accordance with the SOW
| CLIN 1001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 1002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 1003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 1004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Two Period of Performance for CLIN 2001: August 1, 2016 – July 31, 2017 Option Year Two - Custodian Banking Services in accordance with the SOW
| CLIN 2001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 2002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 2003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 2004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Three Period of Performance for CLIN 3001: August 1, 2017 – July 31, 2018 Option Year Three - Custodian Banking Services in accordance with the SOW
| CLIN 3001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 3002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 3003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 3004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Four Period of Performance for CLIN 4001: August 1, 2018 – July 31, 2019 Option Year Four - Custodian Banking Services in accordance with the SOW
| CLIN 4001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 4002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 4003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 4004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Five Period of Performance for CLIN 5001: August 1, 2019 – July 31, 2020 Option Year Five - Custodian Banking Services in accordance with the SOW
| CLIN 5001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 5002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 5003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 5004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Six Period of Performance for CLIN 6001: August 1, 2020 – July 31, 2021 Option Year Six - Custodian Banking Services in accordance with the SOW
| CLIN 6001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 6002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 6003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 6004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Seven Period of Performance for CLIN 7001: August 1, 2021 – July 31, 2022 Option Year Seven - Custodian Banking Services in accordance with the SOW
| CLIN 7001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 7002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 7003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 7004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Eight Period of Performance for CLIN 8001: August 1, 2022 – July 31, 2023 Option Year Eight - Custodian Banking Services in accordance with the SOW
| CLIN 8001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 8002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 8003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 8004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
Option Year Nine Period of Performance for CLIN 9001: August 1, 2023 – July 31, 2024 Option Year Nine - Custodian Banking Services in accordance with the SOW
| CLIN 9001 Menu Based Services (FRVQ) | 1 Lot $ ________ |
| CLIN 9002 On-Site Consultant (FFP) | 1 YR $ ________ |
| CLIN 9003 Optional Services (FRVQ) | 1 Lot $ ________ |
| CLIN 9004 Other Direct Costs (NTE) | 1 Lot $ 75,000 |
Total Amount: $___________
SECTION B.3 Menu Based Services Fee Schedule
B.3.1 Menu Based Services Fees
This Schedule delineates items for which the offeror may charge a fee. Offerors are required to provide an ANNUAL PRICE for its Menu Based Services Fee Schedule and shall demonstrate the line-item detail which substantiates the Menu Based Fee. The offeror shall use the assumptions in Section B.6 for estimating PBGC account activity. Proposals will be evaluated using the assumptions provided in Section B.6.
These assumptions should be used by the offerors in calculating a total annual price for each service listed in the tables from this section as well as a total annual price for each year of performance. The offerors’ total annual prices provided for each service and year will be used for price evaluation purposes only. The total for each year should be entered in the corresponding line in Section B.2 above.
PBGC makes no representation as to the size of the Fund during the solicitation and contract period. The pricing assumptions provided by PBGC in the solicitation are not indicative of the work the offerors can expect to receive on an annual basis under this contract.
For the Menu Based Services Fee Schedule, all prices must be provided with a fixed rate as described in the assumptions for an entire year using the hypothetical portfolio profile found in the Section B.6.
B.3.2 Menu Based Services Fees Tables
Use the assumptions in the Section B.6 to complete the following tables.
B.3.2.1 Menu Based Fees for CLIN 0001- Base Year:
Category Annual Price
1) Custodial Account Fee (3.1.1.3.1)
Active
Passive
Standard Transition
Commingled
2) Asset-Based Fee per Country (in basis points) International Holdings
3) Custody Fees (Annualized) (Section 3.1.1.3 / 3.1.1.5)
DEPOSITORY TRUST CORP (DTC) eligible securities
FEDERAL RESERVE BANK (FRB) eligible securities
Non-Depository securities
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
Purchases - DEPOSITORY TRUST CORP
FEDERAL RESERVE BANK
Other (Physical delivery/ receipt, asset transfers etc.)
Sales - DEPOSITORY TRUST CORP
Futures Transactions
Options Roundtrip
Paydowns (GNMA, FNMA, FHLMC, etc.)
Asset Transfers
Maturities/Redemptions - DEPOSITORY TRUST CORP
FEDERAL RESERVE BANK
Other (Swaps)
Global Trades
5) Income Collection (Section 3.1.1.4 / 3.1.1.5)
Dividends
Interest DEPOSITORY TRUST CORP securities
FEDERAL RESERVE BANK securities
Other (Section 3.1.1.4(c))
6) Wire Transfer Fees
To Others (5.2.1.1, 5.3.1.4.1)
From Others (5.3.1.4)
7) Report Fees (4.1.2.10, 5.3, 8.1)
8) Foreign Exchange Transaction Fees (3.1.8)
9) Transition Costs (3.1.1.3.1)
Transfer to Custodian bank/Contractor of physical securities (5.1.3, 5.3.1.3)
Conversion of Depository Trust Corp securities
Conversion of Federal Reserve Bank securities
Other conversion costs (e.g. Non-US Conversions, etc.)
10) Servicing of Bank Loan (3.1.9)
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
11) Pricing of OTC and centrally cleared derivatives (3.1.6)
12) STIF Fee (4.1.2.3)
13) Educational Conferences (5.4.1.1)
Total Menu Based Services (0001)
B.3.2.2 Menu Based Fees for CLIN 1001 - Option Year 1:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
11) Pricing of OTC and centrally cleared derivatives (3.1.6)
12) STIF Fee (4.1.2.3)
Total Menu Based Services (1001)
B.3.2.3 Menu Based Fees for CLIN 2001 - Option Year 2:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (2001)
B.3.2.4 Menu Based Fees for CLIN 3001 - Option Year 3:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Global Trades
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (3001)
B.3.2.5 Menu Based Fees for CLIN 4001 - Option Year 4:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (4001)
B.3.2.6 Menu Based Fees for CLIN 5001 - Option Year 5:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (5001)
B.3.2.7 Menu Based Fees for CLIN 6001 - Option Year 6:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (6001)
B.3.2.8 Menu Based Fees for CLIN 7001 - Option Year 7:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (7001)
B.3.2.9 Menu Based Fees for CLIN 8001 - Option Year 8:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (8001)
B.3.2.10 Menu Based Fees for CLIN 9001 - Option Year 9:
Annual Price
Active
Passive
Standard Transition
Commingled
4) Transaction Fees per country (International trades from Pricing Schedule) (U.S. only transactions below)
FEDERAL RESERVE BANK
Interest DEPOSITORY TRUST CORP securities
Minimum monthly charge for 1-10 loans across the entire PBGC account
Minimum monthly charge for 11-20 loans across the entire PBGC account
Minimum monthly charge for 21-35 loans across the entire PBGC account
Minimum monthly charge for 36-50 loans across the entire PBGC account
Monthly per loan charge thereafter 50 loans across the entire PBGC account
Total Menu Based Services (9001)
B.4 On-Site Consultant
This Schedule delineates price for the on-site consultant. The offeror shall use the information provided in the SOW to estimate pricing. Offerors are required to provide an annual price, which should then be entered in the corresponding line item in Section B.2 above.
Category
Unit
Unit Price
Annual Price
| Base Year (CLIN 0002) |
| Per Month |
| Option Year 1 (CLIN 1002) |
| Per Month |
| Option Year 2 (CLIN 2002) |
| Per Month |
| Option Year 3 (CLIN 3002) |
| Per Month |
| Option Year 4 (CLIN 4002) |
| Per Month |
| Option Year 5 (CLIN 5002) |
| Per Month |
| Option Year 6 (CLIN 6002) |
| Per Month |
| Option Year 7 (CLIN 7002) |
| Per Month |
| Option Year 8 (CLIN 8002) |
| Per Month |
| Option Year 9 (CLIN 9002) |
| Per Month |
B.5 Optional Services
B.5.1 Optional Services Estimated Pricing
This Schedule delineates items for which the offeror may charge a fee. Offerors are required to provide an ANNUAL PRICE for the Optional Services and shall demonstrate the line-item detail which substantiates the prices for these services. The offeror shall use the assumptions in Section B.7 for estimating PBGC account activity. Proposals will be evaluated using the assumptions provided in Section B.7. These assumptions should be used by the offerors in calculating a total annual price for each service listed in the tables from this section as well as a total annual price for each year of performance. The offerors’ total annual prices provided for each service and year will be used for price evaluation purposes only. The total for each year should be entered in the corresponding line in Section B.2 above. All optional services must be priced in order for the proposal to be evaluated.
PBGC makes no representation as to the size of the Fund during the solicitation and contract period. The pricing assumptions provided by PBGC in the solicitation are not indicative of the work the offerors can expect to receive on an annual basis under this contract.
For the Menu Based Services Fee Schedule, all prices must be provided with a fixed rate as described in the assumptions for an entire year using the hypothetical portfolio profile found in the Section B.6.
B.5.2 Optional Services Estimated Pricing Tables
Use the assumptions in the Section B.7 to complete the following tables.
B.5.2.1 Optional Services Pricing for CLIN 0003 - Base Year:
Category
Annual Price
1) Escrow Account Mortgages (Section 3.1.1.5.1)
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide Investment Management Services.
4) Provide a compliance solution that monitors investment guidelines for fixed income portfolios prescribed from any source. (4.1.2.12)
5) Securities Lending Services (Section 4.1.2.4) NOTE: Annual Gross Revenue Less Collateral Reinvestment Fee
Total Optional Services (0003)
B.5.2.2 Optional Services Pricing for CLIN 1003 - Option Year 1:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (1003)
B.5.2.3 Optional Services Pricing for CLIN 2003 - Option Year 2:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (2003)
B.5.2.4 Optional Services Pricing for CLIN 3003 - Option Year 3:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (3003)
B.5.2.5 Optional Services Pricing for CLIN 4003 - Option Year 4:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (4003)
B.5.2.6 Optional Services Pricing for CLIN 5003 - Option Year 5:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (5003)
B.5.2.7 Optional Services Pricing for CLIN 6003 - Option Year 6:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (6003)
B.5.2.8 Optional Services Pricing for CLIN 7003 - Option Year 7:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (7003)
B.5.2.9 Optional Services Pricing for CLIN 8003 - Option Year 8:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (8003)
B.5.2.10 Optional Services Pricing for CLIN 9003 - Option Year 9:
Category
2) Transition Management Services – (Section 4.1.2.2)
3) Act as Investment Manager (Section 4.1.2.3.1) and provide
4) Provide a compliance solution that monitors investment
5) Securities Lending Services (Section 4.1.2.4)
Total Optional Services (9003)
SECTION B.6 PBGC Account Assumptions
The following data in this section shall be used by offerors as PBGC’s account assumptions for completing the annual pricing estimates for Section B.3. These assumptions should be used by the offerors in calculating a total annual price for each service listed in the pricing schedule as well as a total annual price for each year of the contract. Provide a fixed fee or rate for each item listed in the tables in this Section B.6. The offeror’s proposed fixed fee or fixed rate for the menu based services in this Section B.6 shall be incorporated into the final contract upon award. PBGC makes no representation as to the size of the Fund during the solicitation and contract period. The pricing assumptions provided by PBGC in the solicitation are not indicative of the work the offerors can expect to receive on an annual basis under this contract. Proposals shall be evaluated using the profile found in this section. Populate the assumption tables as needed for the base and all option years. The pricing assumptions apply to all years of the contract and should not be adjusted for inflation. The only pricing changes proposed in the option years shall be the assumed increases in the proposed fixed fee or rates.
Custodial Services:
Domestic Assets (Holdings) $50 Billion
1) Accounts: The charge per account will be the fixed rate.
| Number of Accounts |
| Charge Per Account |
| Annual Price |
| Active |
| 35 per month |
| $ |
| Passive: |
| 15 per month |
| $ |
| Standard Transitions: |
| 15 per year |
| $ |
| Commingled: |
| 15 per year |
| $ |
2) International Holdings: The Basis Points will be the fixed rate.
| Value of Holdings |
| Basis Points |
| Annual Price |
| - Austria |
| 19,347,679 |
| -Argentina |
| 3,162,871 |
| -Australia |
| 185,003,615 |
| -Belgium |
| 34,383,690 |
| -Brazil |
| 233,338,506 |
| -Canada |
| 184,457,255 |
| -Chile |
| 29,524,547 |
| -Columbia |
| 94,384,427 |
| -Costa Rica |
| 2,026,932 |
| -Czech Republic |
| 2,905,675 |
| -Denmark |
| 31,269,614 |
| -Egypt |
| 1,000 |
| -Euroclear |
| 350,286,767 |
| -Finland |
| 8,036,200 |
| -France |
| 276,289,536 |
| -Ghana |
| 2,561,045 |
| -Greece |
| 4,969,935 |
| -Germany |
| 531,047,881 |
| -Hong Kong |
| 75,027,875 |
| -Hungary |
| 49,467,282 |
| -Indonesia |
| 32,550,705 |
| -Ireland |
| 67,756,572 |
| -Israel |
| 7,783,559 |
| -Italy |
| 276,871,659 |
| -Japan |
| 682,232,680 |
| -Mexico |
| 191,347,982 |
| -Malaysia |
| 5,035,370 |
| -Netherlands |
| 85,124,872 |
| -Nigeria |
| 600,328 |
| -Norway |
| 12,656,491 |
| -New Zealand |
| 91,459,999 |
| -Peru |
| 34,790,755 |
| -Philippines |
| 8,019,992 |
| -Poland |
| 106,695,307 |
| -Portugal |
| 1,618,239 |
| -Romania |
| 13,236,959 |
| -Russia |
| 87,904,078 |
| -South Africa |
| 83,185,713 |
| -Switzerland |
| 134,893,353 |
| -Singapore |
| 9,835,024 |
| -South Korea |
| 32,673,375 |
| -Slovenia |
| 7,587,103 |
| -Spain |
| 128,273,721 |
| -Slovak Republic |
| 1,095,398 |
| -Sweden |
| 64,002,296 |
| -Thailand |
| 45,215,724 |
| -Turkey |
| 83,547,051 |
| -United Kingdom |
| 6,66,603,493 |
| -Uruguay |
| 6,184,672 |
| -Other |
| 63,044,144 |
| Total |
| - |
| - |
| $ |
3) Custody Fees (Annualized): The Fixed Fee Per Holding will be the fixed rate.
| Number of Holdings |
| Fixed Rate per Holding |
| Annual Price |
| DTC Eligible Securities |
| 15,000 |
| FRB Eligible Securities |
| 750 |
| Non-Depository Securities |
| 150 |
4) Transactions: The Fixed Fee per Transaction will be the fixed rate.
| Number Per Quarter |
| Fixed Fee per Transaction |
| Annual Price |
| DTC Purchases |
| 5,250 |
| FRB Purchases |
| 3,000 |
| Other Purchases (Physical delivery/ receipt, asset transfers etc.) |
| 1,000 |
| DTC Sales |
| 5,250 |
| FRB Sales |
| 3,000 |
| Other Sales (Physical delivery/ receipt, asset transfers etc.) |
| 1,000 |
| Futures Transactions |
| 2,500 |
| Options Roundtrips |
| 90 |
| Paydowns (GNMA, FNMA, FHLMC, etc.) |
| 6,785 |
| Asset Transfers |
| 10,000 |
| DTC Maturities |
| 20 |
| FRB Maturities |
| 300 |
| Other (Swaps) |
| 250 |
| Global Trade Transactions |
| Number Per Quarter |
| Fixed Fee per Transaction |
| Annual Price |
| Global Trade – Australia |
| 80 |
| Global Trade – Austria |
| 14 |
| Global Trade – Belgium |
| 23 |
| Global Trade – Brazil |
| 17 |
| Global Trade – Canada |
| 161 |
| Global Trade – Cedel/Clearstream |
| 102 |
| Global Trade – Chile |
| 9 |
| Global Trade – Columbia |
| 24 |
| Global Trade – Czech Republic |
| 2 |
| Global Trade – Denmark |
| 32 |
| Global Trade – Euroclear |
| 1,419 |
| Global Trade – Finland |
| 34 |
| Global Trade – France |
| 103 |
| Global Trade – Germany |
| 121 |
| Global Trade – Hong Kong |
| 80 |
| Global Trade – Hungary |
| 4 |
| Global Trade – Israel |
| 15 |
| Global Trade – Indonesia |
| 10 |
| Global Trade – Ireland |
| 10 |
| Global Trade – Italy |
| 69 |
| Global Trade – Japan |
| 544 |
| Global Trade –Mexico |
| 8 |
| Global Trade – Netherlands |
| 59 |
| Global Trade –Nigeria |
| 5 |
| Global Trade – Norway |
| 31 |
| Global Trade – New Zealand |
| 6 |
| Global Trade –Peru |
| 2 |
| Global Trade – Philippines |
| 10 |
| Global Trade –Poland |
| 13 |
| Global Trade – Portugal |
| 5 |
| Global Trade – South Africa |
| 4 |
| Global Trade – South Korea |
| 4 |
| Global Trade – Singapore |
| 41 |
| Global Trade – Sweden |
| 36 |
| Global Trade – Spain |
| 41 |
| Global Trade – Switzerland |
| 99 |
| Global Trade – Thailand |
| 6 |
| Global Trade – Turkey |
| 55 |
| Global Trade – United Kingdom |
| 486 |
| Global Trade – Uruguay |
| 3 |
| Total – Global Trade |
| - |
| - |
5) Income Collection per quarter: The Fixed Fee per Collection will be the fixed rate.
| Number Per Quarter |
| Fixed Fee per Collection |
| Annual Price |
| Dividends |
| 15,000 |
| Interest DTC Securities |
| 750 |
| FRB Securities |
| 750 |
| Other |
| 50 |
6) Wire transfers per quarter: The Fee per Transfer will be the fixed rate.
| Wire transfers |
| Per Quarter |
| Fixed fee per transfer |
| Total Annual Price |
| To Others |
| 2,000 |
| From Others |
| 2,000 |
7) Reference SOW and exhibits associated with reports: The fixed rate will be the fee per report.
If the Custodian Bank is going to charge separately for the reports in Section 8.0, please provide the name of the report and fee for the report in the following table.
| Support Area from Section 8.0 |
| Title from Section 8.0 |
| Fixed Fee per Report |
| Total Annual Price |
| Total |
| - |
| - |
Assume one daily report, one weekly report, one monthly report, one special report, and one each of the global equity and fixed income trade cost reports.
8) Foreign Exchange Transaction Fees: The fixed rate will be the fee per transaction.
Please provide the transaction fee for custodian executed foreign exchange for each currency pair and specify if the fee is applied on top of the bid-ask spread or the mid-rate. Also, please provide the transaction fee, if any, for trading foreign exchange away from the custodian.
| Foreign Exchange Transaction Fees |
| Per Year |
| Fixed fee per Transaction |
| Total Annual Price |
| Custodian Executed Transactions |
| 12,000 |
| Foreign Exchange Transactions Away from Custodian |
| 12,000 |
| Total |
| - |
| - |
9) Transition Costs per quarter: The fixed rate will be the fee per transition.
| Transitions Per Quarter |
| Fixed fee per Transition |
| Total Annual Price |
Transfer to Custodian bank/Contractor of physical securities 15,000
Conversion of Depository Trust securities 14,250
| Conversion of Federal Reserve securities |
| 750 |
10) Servicing of Bank Loan. The fixed rate will be the charge per loan. Use the maximum number of loans per row to calculate the annual price for each.
| Number of Loans |
| Charge per Loan |
| Total Annual Price |
| Minimum monthly charge for 1-10 loans across the entire PBGC account |
| 1-10 |
| Minimum monthly charge for 11-20 loans across the entire PBGC account |
| 11-20 |
| Minimum monthly charge for 21-35 loans across the entire PBGC account |
| 21-35 |
| Minimum monthly charge for 36-50 loans across the entire PBGC account |
| 36-50 |
| Monthly per loan charge thereafter 50 loans across the entire PBGC account |
| 51-65 |
11) Pricing of OTC and Centrally Cleared Derivatives. The fixed rate is the fee per derivative.
| Per Year |
| Fixed fee per Derivative |
| Total Annual Price |
| OTC and Centrally Cleared Derivatives |
| 3,200 |
12) STIF - Investment Management Services: The fixed rate is basis points.
| Account Value |
| Fixed Fee Basis Points |
| Total Annual Price |
| STIF Account |
| 2,500,000,000.00 |
13) Conference Assumptions: The fixed rate is the fee per attendee.
Based on two (2) annual conferences with six (6) attendees per conference.
| Number of Attendees |
| Fixed Fee Per Attendee |
| Total Annual Price |
| Conferences |
| 12 |
SECTION B.7. Optional Services Assumptions
The following data in this section shall be used by offerors as PBGC’s account assumptions for completing the annual pricing estimates for Section B.5. These assumptions should be used by the offerors in calculating a total annual price for each service listed in the pricing schedule as well as a total annual price for each year of the contract. Provide a fixed fee or rate for each item listed in the tables in this Section B.7. The offeror’s proposed fixed fee or fixed rate for the menu based services in this Section B.7 shall be incorporated into the final contract upon award. PBGC makes no representation as to the size of the Fund during the solicitation and contract period. The pricing assumptions provided by PBGC in the solicitation are not indicative of the work the offerors can expect to receive on an annual basis under this contract. Proposals shall be evaluated using the profile found in this section. Populate the assumption tables as needed for the base and all option years. The pricing assumptions apply to all years of the contract and should not be adjusted for inflation. The only pricing changes proposed in the option years shall be the assumed increases in the proposed fixed fee or rates.
1) Price Escrow Account Mortgages: The fixed rate is fee per account.
| Number of Accounts Yearly |
| Fixed Fee per Account |
| Annual Price |
| Escrow Account Mortgages |
| 10 |
2) Transition Management Services: The fixed rate is per trade.
| Trades |
| Per Year |
| Fixed Rate per Trade/Share |
| Total Annual Price |
| Fixed-Income Trades |
| 1,000 |
| Equity Trades per Transition |
| 1,000 |
| Total |
| - |
| - |
3) Investment Management Fees: The fixed rate is basis points.
Investment Management Fees
Account Value
Basis Points
1) S&P 500 Fund Index Fund Fee
$950,000,000
2) Russell 2000 Index Fund
$50,000,000
3) MSCI World Ex US $800,000,000
4) Intermediate U.S. Credit $3,000,000,000
5) Global Aggregate ex-U.S.
$800,000,000
Total Investment Management Fees
In addition, please provide the asset level (tiered pricing) and basis points associated with each fund or ETF offered in 4.1.2.1. The rates submitted will be incorporated into the contract upon award as the fixed rates.
4) Fixed-income Portfolios Compliance Monitoring Product: This fixed rate is fee per portfolio.
| Number of Portfolios Yearly |
| Fee per Portfolio |
| Annual Price |
| Fixed Income Portfolios |
| 35 |
5) Securities Lending Services Revenue Estimate (Section 4.1.2.4):
Offerors are to complete the table below to provide an estimate of the gross securities lending revenue PBGC can expect given the assumptions provided. Offerors shall provide any other assumptions the offeror has used to estimate this revenue Also, in the second table, please provide an estimate of annual fees, if applicable. Total yearly securities lending services revenue (net of fees) should be shown in item 5) of the Pricing Schedule Section B.5 for Optional Services. The information provided is for evaluation purposes only.
| Asset Type |
| Lendable Assets |
| Utilization |
| Intrinsic Revenue for Cash Collateral |
| Intrinsic Revenue for Non-Cash Collateral |
| Cash Collateral Reinvestment Revenue |
| Total Revenue |
| PBGC Revenue with Indemnification |
| Split Percent (%) |
| PBGC Revenue without Indemnification |
| Split Percent (%) |
| US Treasury |
| $5,000,000,000 |
| X.X% |
| $XX,XXX |
| $XX,XXX |
| $XX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| X.X% |
| $XXX,XXX |
| X.X% |
| US Corp Bond |
| $10,000,000,000 |
| X.X% |
| $XX,XXX |
| $XX,XXX |
| $XX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| X.X% |
| $XXX,XXX |
| X.X% |
| US Equity |
| $2,500,000,000 |
| X.X% |
| $XX,XXX |
| $XX,XXX |
| $XX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| X.X% |
| $XXX,XXX |
| X.X% |
| US Agency |
| $500,000,000 |
| X.X% |
| $XX,XXX |
| $XX,XXX |
| $XX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| X.X% |
| $XXX,XXX |
| X.X% |
| NON-US Equity |
| $1,500,000,000 |
| X.X% |
| $XX,XXX |
| $XX,XXX |
| $XX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| X.X% |
| $XXX,XXX |
| X.X% |
| NON-US Fixed Income |
| $4,000,000,000 |
| X.X% |
| $XX,XXX |
| $XX,XXX |
| $XX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| X.X% |
| $XXX,XXX |
| X.X% |
| Total |
| $23,500,000,000 |
| X.X% |
| $XXX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| $XXX,XXX |
| X.X% |
| $XXX,XXX |
| X.X% |
* Custodian Bank shall provide this table for the base and option years.
Assume that the characteristics of the holdings of the asset classes listed above are similar to those of the following indices:
· US Treasury is similar in character to the Barclays US Treasury Index
· US Corp Bond is similar in character to a blend of 75% Barclays US Corporate Index and 25% Barclays Corporate High Yield Index
· US Equity is similar in character to the Russell 3000 index
· US Agency is similar in character to the Barclays US Agency Index (subcomponent of the Barclays US Aggregate Index)
· Non-US Equity is similar in character to the MSCI EAFE Index
· Non-US Fixed Income is similar in character to the Barclays Global Aggregate Index
In addition, please base your revenue estimate on the following:
· Revenue estimates should be for an annual period.
· Assume that PBGC will use a cash collateral separate account with a fixed return of 20 bps.
· Assume that you are able to optimize the use of cash and non-cash collateral
· Please base your estimates on the historical period of 1/1/13-12/31/13.
· Revenue estimate is gross of collateral reinvestment fee.
· Please state in the table below whether you are charging a fee for collateral reinvestment and what the fee is in basis points as well as an estimated annual fee in dollar given your lending estimates above.
| Fee (in $) |
| Fee (in bp) |
Annual Collateral Reinvestment Fee
SECTION B.8. Other Direct Costs (ODCs)
Other direct costs include other fees such as foreign security registrations, re-registrations, stamps, duties, assessments, international telecommunications, and stock change fees as necessary (SOW 3.1.12). PBGC estimates the costs for these ODCs not to exceed $75,000.00 per year. These costs are accounted for in Section B.2 of the pricing schedule for the corresponding CLIN 0004, 1004, 2004, 3004, 4004, 5004, 6004, 7004, 8004, and 9004.
File details come from the government source that posted it. Updated .