Fixed_Income_Questions_QA_4_(2-2-15).doc

Questions

1. Section I (Clauses): We would request that PBGC clarify requirements noted in Section I.8. Many of these seem inapplicable to an investment management assignment as examples, Citation 52.222-50 and Citation 52.223-18. Can you confirm they will not apply?

Answer: The contractor is required to meet the requirements of FAR 52.222-25 (which incorporates by reference the requirements of Executive Order 11246). PBGC will not be able to award the contract to a vendor who affirmatively states it does not comply with the requirements of this clause and, subsequently, the requirements of Executive Order 11246 as the vendor cannot be considered presently responsible. Please note that if a vendor is located outside of the U.S. and will perform all of the work outside the U.S. it may not be required to comply with all of these FAR clauses; however, it is on the offerors to determine whether (or which of) the requirements of these clauses would apply to them.

Most of the provisions and clauses in section I apply to all FAR Part 12 federal government contracts above the simplified acquisition threshold, not just this particular requirement. Although clauses 52.222-50 and 52.223-18 do not seem particularly relevant to investment management services, the agency is generally required to include these clauses in the solicitation and the final contract.

2. (c) H.9 PBGC-37-001: for these purposes we would disclose our Investment Committee of core individuals. They are responsible for all accounts we manage and not allocated to an individual account. We would advise you of these members upfront and also following any changes to them in the future. Related to this under H.10 PBGC-37-002 and H.11 then we would not assign specific individuals to work on this account however we can provide the relevant information in respect of our Investment Committee members.”

Answer: Offerors must propose specific individuals to serve in the required key personnel positions -- Chief Investment Officer and Portfolio Manager. These individuals do not have to be committed solely to PBGC’s contract. Offerors may propose multiple individuals to serve in these roles as well, and may propose additional key personnel (e.g., the Investment Committee members mentioned in your question). Please ensure you submit sufficient information (i.e., resumes) demonstrating that your firm’s proposed key personnel meet the minimum key personnel requirements.

3. Sections B through M:

a. Should specific clauses or provisions in the RFP to which the offeror takes exception be noted in the proposal response?

Answer: Yes, however, please note that failure to agree to the terms and conditions of the solicitation may result in your proposal being found “unacceptable” and excluded from consideration for award.

4. Section L.2.3 Volumes Description – Volume III Technical Requirements – Volume III (a) Multiple Mandate Technical Volume – Attachment 8 Multiple Mandate Product Level Technical Evaluation Questionnaire (p. 78):

a. During the contract term, will products be considered that had not been submitted for technical evaluation under Attachment 8 by offerors in this RFP?

Answer: While PBGC will not foreclose the possibility of considering new products after award, PBGC is endeavoring to evaluate and award all investment products as a result of this competition. Further, all contract modifications must be within the scope of the original contract.

5. Section M.2 PART I – Phases I and II (pp. 83-84):

a. Will offerors be notified if they progress onto Phase II?

Answer: Offerors will be notified if they progress onto Phase II. Offerors who do not progress to Phase II will also be notified.

6. Will the proposed fees be binding or will there be opportunities to further negotiate depending on ultimate asset funding levels?

Answer: If the agency decides to open discussions with offerors, there will be an opportunity to negotiate proposed fees before contract award. After discussions (if they are held), PBGC will evaluate and consider fees in the agency’s award decision. Upon award, the fees will be established in the final contract, and as such, will be binding. Like all other terms and conditions, after contract award, the fees may be subject to change if the parties negotiate an in-scope, bilateral modification. See Federal Acquisition Regulation (FAR) 15.306(d).