PBGC01-RP-17-0022.pdf

RFQ IFB RFP

WOMEN-OWNED SMALL BUSINESS

(WOSB) ELIGIBLE UNDER THE WOMEN-OWNED

SOLICITATION/CONTRACT/ORDER FOR COMMERCIAL ITEMS

OFFEROR TO COMPLETE BLOCKS 12, 17, 23, 24, & 30

1. REQUISITION NUMBER PAGE OF

2. CONTRACT NO. 3. AWARD/EFFECTIVE

DATE

4. ORDER NUMBER 5. SOLICITATION NUMBER 6. SOLICITATION ISSUE

DATE

7. FOR SOLICITATION

INFORMATION CALL:

a. NAME b. TELEPHONE NUMBER (No collect calls)

8. OFFER DUE DATE/

LOCAL TIME

9. ISSUED BY

13b. RATING

14. METHOD OF SOLICITATION

CODE

15. DELIVER TO 16. ADMINISTERED BY CODE

18a. PAYMENT WILL BE MADE BY CODEFACILITY

CODE

CODE

TELEPHONE NO.

17b. CHECK IF REMITTANCE IS DIFFERENT AND PUT SUCH ADDRESS IN

OFFER

18b. SUBMIT INVOICES TO ADDRESS SHOWN IN BLOCK 18a UNLESS BLOCK

BELOW IS CHECKED

SEE ADDENDUM

19.

ITEM NO.

20.

SCHEDULE OF SUPPLIES/SERVICES

21.

QUANTITY

22.

UNIT

23.

UNIT PRICE

24.

AMOUNT

(Use Reverse and/or Attach Additional Sheets as Necessary)

25. ACCOUNTING AND APPROPRIATION DATA 26. TOTAL AWARD AMOUNT (For Govt. Use Only)

28. CONTRACTOR IS REQUIRED TO SIGN THIS DOCUMENT AND RETURN

DELIVER ALL ITEMS SET FORTH OR OTHERWISE IDENTIFIED ABOVE AND ON ANY

ADDITIONAL SHEETS SUBJECT TO THE TERMS AND CONDITIONS SPECIFIED

29. AWARD OF CONTRACT: REF.

DATE . YOUR OFFER ON SOLICITATION

(BLOCK 5), INCLUDING ANY ADDITIONS OR CHANGES WHICH ARE

SET FORTH HEREIN, IS ACCEPTED AS TO ITEMS:

30a. SIGNATURE OF OFFEROR/CONTRACTOR

30b. NAME AND TITLE OF SIGNER (Type or print) 30c. DATE SIGNED

31a. UNITED STATES OF AMERICA (SIGNATURE OF CONTRACTING OFFICER)

31b. NAME OF CONTRACTING OFFICER (Type or print) 31c. DATE SIGNED

AUTHORIZED FOR LOCAL REPRODUCTION

PREVIOUS EDITION IS NOT USABLE

STANDARD FORM 1449 (REV. 2/2012)

Prescribed by GSA - FAR (48 CFR) 53.212

COPIES TO ISSUING OFFICE. CONTRACTOR AGREES TO FURNISH AND

OFFER

13a. THIS CONTRACT IS A

RATED ORDER UNDER

DPAS (15 CFR 700)

11. DELIVERY FOR FOB DESTINA-

TION UNLESS BLOCK IS

MARKED

SEE SCHEDULE

12. DISCOUNT TERMS

ARE ARE NOT ATTACHED

ARE ARE NOT ATTACHED

27a. SOLICITATION INCORPORATES BY REFERENCE FAR 52.212-1, 52.212-4. FAR 52.212-3 AND 52.212-5 ARE ATTACHED. ADDENDA

27b. CONTRACT/PURCHASE ORDER INCORPORATES BY REFERENCE FAR 52.212-4. FAR 52.212-5 IS ATTACHED. ADDENDA

17a CONTRACTOR/

OFFEROR.

CODE

8 (A)

SIZE STANDARD:

NAICS:

% FOR:SET ASIDE:UNRESTRICTED OR

SERVICE-DISABLED

VETERAN-OWNED

SMALL BUSINESS

HUBZONE SMALL

BUSINESS

SMALL BUSINESS

10. THIS ACQUISITION IS

EDWOSB

SMALL BUSINESS PROGRAM

STANDARD FORM 1449 (REV. 2/2012) BACK

19.

ITEM NO.

20.

SCHEDULE OF SUPPLIES/SERVICES

21.

QUANTITY

22.

UNIT

23.

UNIT PRICE

24.

AMOUNT

32a. QUANTITY IN COLUMN 21 HAS BEEN

RECEIVED INSPECTED ACCEPTED, AND CONFORMS TO THE CONTRACT, EXCEPT AS NOTED:

41a. I CERTIFY THIS ACCOUNT IS CORRECT AND PROPER FOR PAYMENT

32b. SIGNATURE OF AUTHORIZED GOVERNMENT

REPRESENTATIVE

32c. DATE

41b. SIGNATURE AND TITLE OF CERTIFYING OFFICER 41c. DATE

42a. RECEIVED BY (Print)

42b. RECEIVED AT (Location)

42c. DATE REC'D (YY/MM/DD) 42d. TOTAL CONTAINERS

40. PAID BY

32d. PRINTED NAME AND TITLE OF AUTHORIZED GOVERNMENT

REPRESENTATIVE

32e. MAILING ADDRESS OF AUTHORIZED GOVERNMENT REPRESENTATIVE 32f. TELPHONE NUMBER OF AUTHORZED GOVERNMENT REPRESENTATIVE

32g. E-MAIL OF AUTHORIZED GOVERNMENT REPRESENTATIVE

33. SHIP NUMBER 34. VOUCHER NUMBER 35. AMOUNT VERIFIED

CORRECT FOR

PARTIAL FINAL

37. CHECK NUMBER

38. S/R ACCOUNT NO. 39. S/R VOUCHER NUMBER

36. PAYMENT

COMPLETE PARTIAL FINAL

SCHEDULE Continued

ITEM NO. SUPPLIES/SERVICES QUANTITY UNIT UNIT PRICE AMOUNT

PAGE 3 OF 78 PBGC01-RP-17-0022

The items below are used for PBGC internal funding purposes only. The official Contract Line Item Number (CLIN) Schedule follows in Section B. The contractor shall invoice in accordance with the official CLIN Schedule and with clause PBGC 52.232-7000.

0001 Base Period Reference Section B for the Official CLIN Schedule

Period of Performance: 09/30/2017 to 09/29/2018

0.00 DO

Table of Contents

PAGE 4 OF 78 PBGC01-RP-17-0022

SECTION B SUPPLIES OR SERVICES AND PRICES/COSTS

B. 1 PRICING SCHEDULE

SECTION C DESCRIPTION/SPECIFICATIONS/WORK STATEMENT

C. 1 PERFORMANCE WORK STATEMENT

SECTION H SPECIAL CONTRACT REQUIREMENTS

H. 1 PBGC 52.201-7000 CONTRACTING OFFICER'S REPRESENTATIVE (JAN 2012)

H. 2 PBGC 52.209-7000 HANDLING SENSITIVE INFORMATION (MAR 2016)

H. 3 PBGC 52.232-7000 SUBMISSION OF INVOICES (FIXED-PRICE) (APR 2017)

H. 4 PBGC 52.237-7005 INFORMATION SECURITY TRAINING (MAR 2016)

H. 5 PBGC 52.239-7000 SECTION 508 ACCESSIBILITY STANDARDS (MAR 2016)

H. 6 PBGC 52.239-7001 INFORMATION TECHNOLOGY SOLUTIONS LIFE CYCLE MANAGEMENT (MAR 2016)

H. 7 PBGC 52.242-7000 POSTAWARD CONFERENCE (MAR 2016)

SECTION I CONTRACT CLAUSES

I. 1 52.203-3 GRATUITIES (APR 1984)

I. 2 52.203-5 COVENANT AGAINST CONTINGENT FEES (MAY 2014)

I. 3 52.203-7 ANTI-KICKBACK PROCEDURES (MAY 2014)

I. 4 52.203-12 LIMITATION ON PAYMENTS TO INFLUENCE CERTAIN FEDERAL TRANSACTIONS (OCT 2010)

I. 5 52.203-17 CONTRACTOR EMPLOYEE WHISTLEBLOWER RIGHTS AND REQUIREMENT TO INFORM EMPLOYEES OF

WHISTLEBLOWER RIGHTS (APR 2014)

I. 6 52.204-4 PRINTED OR COPIED DOUBLE-SIDED ON POSTCONSUMER FIBER CONTENT PAPER (MAY 2011)

I. 7 52.204-13 SYSTEM FOR AWARD MANAGEMENT MAINTENANCE (OCT 2016)

I. 8 52.212-4 CONTRACT TERMS AND CONDITIONS--COMMERCIAL ITEMS (JAN 2017)

I. 9 52.223-6 DRUG-FREE WORKPLACE (MAY 2001)

I. 10 52.224-1 PRIVACY ACT NOTIFICATION (APR 1984)

I. 11 52.224-2 PRIVACY ACT (APR 1984)

I. 12 52.225-13 RESTRICTIONS ON CERTAIN FOREIGN PURCHASES (JUN 2008)

I. 13 52.229-3 FEDERAL, STATE, AND LOCAL TAXES (FEB 2013)

I. 14 52.232-1 PAYMENTS (APR 1984)

I. 15 52.232-17 INTEREST (MAY 2014)

I. 16 52.232-20 LIMITATION OF COST (APR 1984)

I. 17 52.232-22 LIMITATION OF FUNDS (APR 1984)

I. 18 52.232-23 ASSIGNMENT OF CLAIMS (MAY 2014)

I. 19 52.232-39 UNENFORCEABILITY OF UNAUTHORIZED OBLIGATIONS (JUNE 2013)

I. 20 52.233-1 DISPUTES (MAY 2014)

I. 21 52.233-1 I DISPUTES (MAY 2014)--ALTERNATE I (DEC 1991)

I. 22 52.242-13 BANKRUPTCY (JUL 1995)

I. 23 52.244-6 SUBCONTRACTS FOR COMMERCIAL ITEMS (JAN 2017)

I. 24 52.204-21 BASIC SAFEGUARDING OF COVERED CONTRACTOR INFORMATION SYSTEMS (JUN 2016)

I. 25 52.212-5 CONTRACT TERMS AND CONDITIONS REQUIRED TO IMPLEMENT STATUTES OR EXECUTIVE ORDERS--

COMMERCIAL ITEMS (JAN 2017)

I. 26 52.217-8 OPTION TO EXTEND SERVICES (NOV 1999)

I. 27 52.217-9 OPTION TO EXTEND THE TERM OF THE CONTRACT (MAR 2000)

I. 28 52.252-2 CLAUSES INCORPORATED BY REFERENCE (FEB 1998)

SECTION J LIST OF ATTACHMENTS

J. 1 LIST OF ATTACHMENTS

SECTION K REPRESENTATIONS, CERTIFICATIONS AND OTHER STATEMENTS OF OFFERORS

Table of Contents

PAGE 5 OF 78 PBGC01-RP-17-0022

K. 1 52.203-11 CERTIFICATION AND DISCLOSURE REGARDING PAYMENTS TO INFLUENCE CERTAIN FEDERAL

TRANSACTIONS (SEP 2007)

K. 2 52.204-5 WOMEN-OWNED BUSINESS (OTHER THAN SMALL BUSINESS) (OCT 2014)

K. 3 52.204-17 OWNERSHIP OR CONTROL OF OFFEROR (JUL 2016)

K. 4 52.204-19 INCORPORATION BY REFERENCE OF REPRESENTATIONS AND CERTIFICATIONS (DEC 2014)

K. 5 52.209-2 PROHIBITION ON CONTRACTING WITH INVERTED DOMESTIC CORPORATIONS-REPRESENTATION (NOV

2015)

K. 6 52.209-7 INFORMATION REGARDING RESPONSIBILITY MATTERS (JULY 2013)

K. 7 52.212-3 OFFEROR REPRESENTATIONS AND CERTIFICATIONS--COMMERCIAL ITEMS (JAN 2017)

K. 8 52.219-1 SMALL BUSINESS PROGRAM REPRESENTATIONS (OCT 2014)

SECTION L INSTRUCTIONS, CONDITIONS, AND NOTICES TO OFFERORS

L. 1 PROPOSAL SUBMISSION INSTRUCTIONS

L. 2 52.204-7 SYSTEM FOR AWARD MANAGEMENT (OCT 2016)

L. 3 52.204-16 COMMERCIAL AND GOVERNMENT ENTITY CODE REPORTING (JUL 2016)

L. 4 52.204-18 COMMERCIAL AND GOVERNMENT ENTITY CODE MANAGEMENT (JUL 2016)

L. 5 52.212-1 INSTRUCTIONS TO OFFERORS--COMMERCIAL ITEMS (JAN 2017)

L. 6 52.222-56 CERTIFICATION REGARDING TRAFFICKING IN PERSONS COMPLIANCE PLAN (MAR 2015)

L. 7 52.216-1 TYPE OF CONTRACT (APR 1984)

L. 8 52.233-2 SERVICE OF PROTEST (SEP 2006)

L. 9 52.252-1 SOLICITATION PROVISIONS INCORPORATED BY REFERENCE (FEB 1998)

SECTION M EVALUATION FACTORS FOR AWARD

M. 1 EVALUATION CRITERIA / BEST VALUE TRADE OFF

M. 2 52.217-4 EVALUATION OF OPTIONS EXERCISED AT TIME OF CONTRACT AWARD (JUN 1988)

PAGE 6 OF 78 PBGC01-RP-17-0022

SECTION B

SUPPLIES OR SERVICES AND PRICES/COSTS

B. 1 PRICING SCHEDULE

1. DESCRIPTION OF SUPPLIES AND SERVICES:

The contractor shall provide primary paying agent services in accordance with the Performance Work Statement. The contract type is Firm Fixed Price.

2. PRICING SCHEDULE:

Base Period September 30, 2017 – September 29, 2018

CLIN SUPPLIES/SERVICES QTY UNIT UNIT

PRICE

(FFP)

TOTAL

AMOUNT (FFP)

0001 The Contractor shall provide services in accordance with the Performance Work Statement.

12 MO $ $

Option Period One September 30, 2018 – September 29, 2019

CLIN SUPPLIES/SERVICES QTY UNIT UNIT

PRICE

(FFP)

TOTAL

AMOUNT (FFP)

1001 The Contractor shall provide services in accordance with the

Option Period Two September 30, 2019 – September 29, 2020

CLIN SUPPLIES/SERVICES QTY UNIT UNIT

PRICE

(FFP)

TOTAL

AMOUNT (FFP)

2001 The Contractor shall provide services in accordance with the

Option Period Three September 30, 2020 – September 29, 2021

CLIN SUPPLIES/SERVICES QTY UNIT UNIT

PRICE

(FFP)

TOTAL

AMOUNT (FFP)

3001 The Contractor shall provide services in accordance with the

Option Period Four September 30, 2021 – September 29, 2022

CLIN SUPPLIES/SERVICES QTY UNIT UNIT

PRICE

(FFP)

TOTAL

AMOUNT (FFP)

4001 The Contractor shall provide services in accordance with the

PAGE 7 OF 78 PBGC01-RP-17-0022

SECTION C

DESCRIPTION/SPECIFICATIONS/WORK STATEMENT

C. 1 PERFORMANCE WORK STATEMENT

1.1 Introduction

The Pension Benefit Guaranty Corporation (PBGC) maintains its own pension recordkeeping system and benefits administration infrastructure for more than 1.5 million participants. The system packages payment changes (adds and updates) and transmits them to the Primary Paying Agent’s (PA) pension payment system several times each month. The PA disburses about 840,000 PBGC benefit payments each month totaling above $5.7 billion annually to retirees in over 4,000 terminated private-sector defined benefit pension plans. The PA performs the gross- to-net calculation, manages federal income tax withholdings, deposits and reporting, manages exception processing associated with payments (stop and reissue checks, ACH notice of change, returns, reclamations, adjustments), supports financial management activities associated with benefit payments, provides PBGC users access to their pension payment system and provides PBGC retirees access to their retiree self-service system via Web services. The PA contract is overseen by the Benefit Payments Division (BPD) of the Participant Services Department (PSD) within the Office of Benefits Administration (OBA).

1.2 PBGC Background

PBGC is a federal corporation established under the Employee Retirement Income Security Act (ERISA) of 1974, as amended. It guarantees payment of basic pension benefits earned by nearly 40 million of America’s workers and retirees participating in nearly 24,000 private-sector defined benefit pension plans. PBGC receives no funds from general tax revenues. Operations are financed by insurance premiums paid by companies that sponsor defined benefit pension plans, investment income, and assets acquired from terminated plans.

PBGC administers two insurance programs. The single-employer program protects about 30 million workers and retirees in over 22,000 pension plans. The multiemployer program protects over 10 million workers and retirees in about 1,400 pension plans. (Note: Financial assistance to insolvent multiemployer plans is outside the scope of this contract.)

When a company can no longer keep its pension promises, PBGC’s first priority is to ensure that people keep getting their benefit payments without interruption. When a person’s final benefit amount is not yet calculated and payment is due, we pay estimated benefits in the interim.

For the single-employer program, PBGC paid nearly $5.7 billion in benefits in FY 2016 to more than 840,000 retirees in more than 4,700 failed plans and became responsible for 46,000 additional workers and retirees in 75 newly terminated plans. These numbers are expected to continuously increase as PBGC becomes trustee of newly terminated plans each year. In the past (1/2010), the retiree count has spiked by as many as 50,000 new retirees in a single month due to large plan terminations.

On average, PSD/CSD process about 3,000 benefit applications per month for new retirees.

PBGC continues to promote the use of direct deposit for faster and more secure payments.

Currently, about 87 percent of payments are by direct deposit.

PAGE 8 OF 78 PBGC01-RP-17-0022

Our Customer Contact Center (CCC) answers about 2,300 calls on an average day, and typically handles customer inquiries within seven minutes. Our Document Management Center (DMC) processes (images and indexes) more than 1.5 million documents per year. Our primary online application for workers and retirees – My Pension Benefit Account (www.pbgc.gov/wr/mypba.html) – allows customers to access certain forms and information, and to perform routine transactions (www.pbgc.gov/wr/transactions.html). During FY 2015, MyPBA users, which include about 70,000 retirees, executed about 229,000 transactions, and nearly 36,000 people established new accounts.

PBGC uses the American Customer Satisfaction Index (ACSI) survey methodology to provide an objective third-party means to gather customer satisfaction information on our public-facing services. Because the ACSI is a recognized standard throughout government and industry, we can compare ourselves to other government and private organizations, as well as gauge the effectiveness of efforts to improve our customers’ experiences.

o Retirees receiving benefits from PBGC continue to say that they are very satisfied with our services. Our FY 2016 ACSI score of 90 from retirees is the all-time high score for this measure, or any other PBGC satisfaction measure, capping a decade- long trend of scores in the high 80s. The survey results demonstrate continued excellence in providing clear communications, on-time payments, and that retirees remain confident about our ability to serve them.

More information about PBGC is available via our website, www.PBGC.gov:

o Annual Report: http://pbgc.gov/Documents/2016-Annual-Report.pdf o Fact Sheet: http://www.pbgc.gov/about/factsheets.html o Payment Dates: http://www.pbgc.gov/wr/benefits/payments/pbgc-payment-dates.html o Strategic Plan: http://www.pbgc.gov/Documents/PBGC-Strategic-Plan-2014-2018.pdf o Financial Statement Audit: https://oig.pbgc.gov/pdfs/AUD-2017-6.pdf o Report on Internal Controls: https://oig.pbgc.gov/pdfs/FA-16-110-2.pdf o PBGC Departments: www.pbgc.gov/about/who-we-are/pg/pbgc-departments.html

1.3 PBGC Organizations Relevant to Paying Agent (PA) Services The Paying Agent (PA) Services contract is overseen by the Benefit Payments Division (BPD) of the Participant Services Department (PSD) within the Office of Benefits Administration (OBA).

PAGE 9 OF 78 PBGC01-RP-17-0022

The Office of Benefits Administration (OBA) manages the termination process for defined benefit plans, provides participant services

– including calculation and payment of benefits – for PBGC-trusteed plans, provides actuarial support for PBGC, and carries out PBGC's responsibilities under certain settlement agreements. When it is necessary to terminate a defined benefit pension plan, OBA values plan assets and liabilities, and collects, evaluates, and performs participant and plan financial audits, making decisions on participant benefit entitlements and plan worth.

Benefit Administration (BA) is PBGC’s pension recordkeeping system. BA consists of a collection of PBGC IT applications (see 1.4.8.5.1 – Spectrum, Image Processing System/IPS, CRM, etc.) that maintain records for more than 1.5 million participants in over 4,000 trusteed pension plans. BA packages payment changes (adds and updates) and transmits them to the paying agent’s pension payment system several times each month.

The Participant Services Department (OBA/PSD) provides oversight for the benefit administration process, customer service, and administrative support.

The Benefit Payments Division (OBA/PSD/BPD) oversees the primary Paying Agent (PA) services contract and other benefit payments-related contracts; oversees the approval of benefit payments; oversees the disbursement of approved benefit payments;

oversees the withholding, remittance and reporting of federal income taxes; oversees payments-related exception processing;

supports the financial management of benefit payments; supports PBGC’s internal controls and information security programs;

supports the prevention and oversees the recovery of benefit overpayments; and supports other OBA and PBGC programs and initiatives.

The Customer Communications Division (OBA/PSD/CCD) manages participant communication support services including the Customer Contact Center (CCC).

The Customer Support Division (OBA/PSD/CSD) oversees Field Benefits Administration (FBA) contracts, the Missing Participant Program (MPP), and class-action settlements (Page-Collins, Rettig).

The Plan Asset and Data Management Department (OBA/PADMD) provides oversight of the asset evaluation branches and determine the value of assets and non-actuarial liabilities of all PBGC trusteed pension plans as of their Date of Plan Termination (DOPT). Also oversees the Document Management Center (DMC) and fulfillment (print/mail) services.

The Financial Operations Department (FOD) within the Office of Chief Financial Officer (OCFO) organization administers PBGC’s financial and accounting programs. The General Accounting Branch (FOD/COD/GAB) within the Controller Operations Division (FOD/COD) administers the general accounting programs and the Investment Accounting Branch (FOD/COD/IAB) directs PBGC’s investment/trust accounting programs.

The Information Technology Infrastructure Operations Department (ITIOD) within the Office of Information Technology (OIT) organization manages the delivery of IT support. The ITIOD manages the delivery of the infrastructure systems and services, measuring capabilities to ensure service levels are met; and ensure the delivery of a secure, cost effective and sustained level of availability, supporting overall business continuity.

PAGE 10 OF 78 PBGC01-RP-17-0022

The Business Innovation Services Department (BISD) within the CIO organization transforms PBGC's business operations and addresses information management challenges through modernization of business and technology.

The Enterprise Cybersecurity Division (ECD) within the CIO organization certifies that PBGC systems are operated in compliance with PBGC's Information Security Program.

1.4 Performance Work Statement for Paying Agent (PA) Services

1.4.1 The PA shall disburse benefit payments to PBGC payees.

1.4.1.1 Disburse benefit payments to PBGC payees via Electronic Funds Transfer (EFT) Prearranged Payment and Deposit (PPD) and International ACH Transaction (IAT) entries and by paper checks.

1.4.1.2 PBGC benefit payments include:

o Monthly annuities and other payments payable on the first of the month;

o Lump sum distributions, back payments and other special payments weekly.

Currently PBGC is accustomed to transmitting weekly payment files to the PA on Wednesday for payments dated Friday.

o Monthly or one-time unique-situation payments (e.g. legal settlements and unusual plans).

1.4.1.3 PBGC payees include pension plan participants, beneficiaries, alternate payees, authorized third parties and estates located either in or outside of the United States and its territories.

1.4.1.3.1 Any given payee can have multiple “roles” (e.g. participant in plan A, participant in plan B, surviving spouse of a participant in plan A, surviving spouse of a participant in plan B, alternate payee of a participant in plan A, alternate payee of a participant in plan B, etc.) each with its own benefit.

1.4.1.4 The normal settlement date for PBGC benefit payments is the first of each month.

1.4.1.5 When the first of the month is not a banking day, ACH settlement is normally on the last banking day of the prior month with the exception of January, when the settlement date is the first bank day of January.

1.4.1.6 Gross-to-net calculation for individual payments:

o PBGC provides gross payment amount (exception: for overpayment recoupments, PBGC currently transmits net amount after recoupment);

o PBGC provides most deduction information (exceptions: medical/life deductions, overpayment recoupment deductions);

o PA calculates federal income taxes to be withheld (see 1.4.2);

o PA deducts federal income taxes, IRS levies, Qualified Domestic Relations Orders (QDRO) and other PBGC-sponsored deductions;

o PA deducts medical and/or life deductions for plan families specified in section 1.4.2.7

1.4.1.7 Serve as PBGC’s Originating Depository Financial Institution (ODFI) for electronic funds transfer (EFT) payments (a.k.a. electronic direct deposit – EDD, Automated Clearing House – ACH, direct deposit):

1.4.1.7.1 Adhere to NACHA Operating Rules (OR) and Operating Guidelines (OG).

1.4.1.7.2 Originate Pre-arranged Payment and Deposit (PPD) entries to transfer PBGC benefit payments into domestic Receiving Depository Financial Institution (RDFI) accounts or Direct Express Debit card © held by PBGC payees.

PAGE 11 OF 78 PBGC01-RP-17-0022

1.4.1.7.3 Originate International ACH Transaction (IAT) entries to transfer PBGC benefit payments into international RDFI accounts held by PBGC payees.

1.4.1.7.4 Create the ACH file, formatted per NACHA requirements:

- Identify the source of ACH payments as “USPBGC-” followed by as many characters of the modified PBGC plan name as allowed by the file format. The “modified plan name” is the official plan name with certain text re-ordered for clarity (e.g. “XYZ Pension Plan” instead of an official plan name of “Pension Plan for XYZ”);

- Include sufficient data to map each ACH entry to the associated payment in PBGC’s system. At least one way this could be accomplished is by including the PBGC Payable SID (PAYBL_SID).

1.4.1.8 Issue paper checks:

1.4.1.8.1 Ensure that all checks (including unused check stock, mutilated checks, etc.) are accounted for and provide monthly reconciliation report (BPD Reports see 1.4.12.3).

1.4.1.8.2 Provide payee positive pay cash management service to deter fraud by matching check number, amount and payee name on checks issued to checks presented for payment. Any checks considered to be potentially fraudulent are to be examined by the PA.

1.4.1.8.3 Check stock shall include security features to defend against alteration, erasure, toner removal, photocopying, and counterfeiting. See attachment 4 for examples of security features.

1.4.1.8.4 Checks shall be void after 180 days. On a monthly basis, the PA shall stop payment on checks that have been outstanding for more than 180 days, return the funds to PBGC and provide a purged check report (BPD Reports see 1.4.12.6).

1.4.1.8.5 On a quarterly basis the PA shall provide a report of all outstanding checks (BPD Reports see 1.4.12.7).

1.4.1.9 Annual key dates schedule: The PA shall collaborate with BPD in the development of an annual schedule of key payment dates to include the dates listed below (see attachment 2 for sample annual schedules). The annual schedule is to be published each September for the following calendar year.

1.4.1.9.1 Check run for annuities and special checks is the date when PA creates the ACH file and the check print file for the vast majority of payments scheduled for the upcoming first of the month.

1.4.1.9.2 OBA cutoff: Deadline for approving changes so that they are included in the PBGC trial balance process. On this date:

PBGC transmits the “cutoff file” to the PA by an agreed upon time and

PA transmits the trial balance projection file to PBGC (see section 1.4.4.3).

1.4.1.9.3 Trial balance variance distribution from BPD to benefit processors: Typically this is the business day after OBA cutoff.

1.4.1.9.4 Last minute file transmission date: This is the day of the last file for monthly and NFDE files (see 1.4.4.1) for the upcoming first of the month payments. Typically this is two business days before the annuity check run.

1.4.1.9.5 Check mail date: This is the date when paper checks are mailed. Typically this is three mail days before the first of the month.

1.4.1.9.6 ACH settlement date: Typically, this is the first of the month unless the first is not a business day (see 1.4.1.5).

1.4.1.10 Monthly payment schedule: The PA shall collaborate with BPD in the development of a monthly schedule of payment dates to include, but not be limited to, the dates listed below (see attachment 3 for sample monthly schedules). The monthly schedule for the upcoming month’s activities is to be published the day after the annuity check run (1.4.1.9) in any given month. For example, the

PAGE 12 OF 78 PBGC01-RP-17-0022

schedule published after the annuity check run in October identifies activities to be performed in November for benefit payments that will be made on December 1.

o Approval deadline for weekly payments or a note that there will be no weekly payments that week.

o Dates when Spectrum and NFDE files (see 1.4.4.1) will be transmitted to the PA by PBGC.

o Dates when trial balance projection files (see 1.4.4.3) will be transmitted to PBGC by the PA.

o Dates of each individual check run (1.4.1.9) for annuities, lump sums, special payments, etc.

o Dates when payment history files (see 1.4.4.4) will be transmitted to PBGC by the PA.

o Dates when funding requests and backup documentation are delivered by the PA to PBGC (see 1.4.9.6).

o Date range when ACH deletions (see 1.4.5.1) can be processed for the upcoming first of the month payments.

o Date range during which stop and reissues (see 1.4.5.3) can be processed.

1.4.1.11 In unusual circumstances, the PA shall collaborate with BPD to re-schedule file transmissions, check runs and other events on short notice in response to operational anomalies.

1.4.2 The PA shall manage tax withholdings and other deductions.

1.4.2.1 Calculate and withhold federal income taxes (including taxes for Non-Resident Alien (NRA)) based on input data (e.g. gross benefit amount, withholding exemptions, marital status) provided by PBGC (see also 1.4.1.6).

1.4.2.2 Withhold for IRS tax levies that have been explicitly approved by PBGC. See also 1.4.5.13

1.4.2.3 Remit withheld federal income taxes to the Internal Revenue Service (IRS) on PBGC’s behalf in accordance with IRS requirements.

1.4.2.4 Recover overpayments of federal income taxes to the IRS (or net from future remittances) and refund the affected payees.

1.4.2.5 Report taxes withheld to the IRS on the required forms (e.g. IRS form 945). (Reports see 1.4.15.1) Note: Reporting taxes withheld to individual payees is covered at 1.4.6.3.

1.4.2.6 Provide technical assistance to BPD personnel regarding tax withholding issues.

1.4.2.7 Establish an agreement directly with the insurance provider(s) whereby premiums are withheld and remitted for the plans listed below. PBGC by policy does not withhold insurance premiums. Special negotiations with these plans created a limited exception. See attachment 37 for contact information.

o Bethlehem Steel plan (life deductions for about 1,600 payees).

1.4.2.7.1 If overpayments to insurance providers occur, the PA shall recover the funds and make any necessary adjustments to individual payees’ payment history.

1.4.3 The PA shall maintain a copy of certain PBGC payee data on the PA pension payment system and provide access to PBGC employees.

1.4.3.1 Maintain PBGC sensitive data, including personally identifiable information (PII) for PBGC payees, on a contractor-owned pension payment system hosted within the United States with sufficient safeguards to ensure PBGC sensitive data is only accessible to authorized employees from within the United States. Information security is covered in more detail at 1.4.10.

1.4.3.2 Store sufficient data in the pension payment system on recurring (monthly, quarterly, annual and semi-annual) PBGC benefit

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payments so as to continue the payments until PBGC transmits an approved change.

1.4.3.3 Establish an account for each of over 4,000 existing PBGC plans in the pension payment system.

1.4.3.4 Create new accounts for new PBGC cases upon PBGC request. Requests for newly terminated plans or for updates to plan-level data (e.g. DOPT) for existing plans are made via system-generated emails (see attachment 5 regarding the PA generated email). The email will include:

- 8-digit PBGC case number;

- Plan name;

- EIN/PN;

- Date of Plan Termination (DOPT)

1.4.3.5 Establish a record for each of about 800,000 existing PBGC payees in the pension payment system. After the transition into the new contract, additional payee record creations are covered in 1.4.4.1.

1.4.3.6 Provide web access to the PA pension payment system for PBGC employees.

1.4.3.6.1 Read-only access for about 500 PBGC users for viewing the real-time status of pending payments, the full payment history for each individual payee, images of negotiated checks, and images of individual payee tax forms.

1.4.3.6.2 Limited read-write access to about 10 BPD users for initiating certain exception processing transactions (See 1.4.5.1for more about how these transactions are managed.)

1.4.3.7 Conduct an annual account review to verify with management that all employees with a particular level of access (e.g. read-only, read-write, administrative, etc.) to PBGC sensitive data stored in the PA pension payment system still require access at that level. (BPD Reports 1.4.12.8)

1.4.3.7.1 PA management will verify that PA employees (including subcontractors) who have either regular user accounts or privileged user accounts with access to sensitive PBGC data still require that level of access.

1.4.3.7.2 PBGC management will verify PBGC employees based on the list of account holders provided by the PA.

1.4.3.7.3 Promptly deactivate (e.g. for separated employee) or downgrade (e.g. from read-write to read-only) user accounts in accordance with management’s responses regarding employees who no longer have the correct level of access.

1.4.4 The PA shall exchange data between PBGC’s benefit administration systems and the PA pension payment system.

1.4.4.1 Approved payment changes from PBGC: Receive from PBGC and process electronic files containing approved changes (adds and updates) including new payees, changes in monthly gross benefit amount (including benefits that have ended), tax withholding, payment destination (EFT vs. check), RDFI information and home address.

o The vast majority of these changes originate in PBGC’s Spectrum (e.g. new retirees), CRM (e.g. payment destination changes triggered by phone calls), or MyPBA (e.g. self-service home address changes) systems, are approved in PBGC’s Approval Worklist

Application (AWA)6, and are packaged for transmission to the PA system by the Spectrum application. See 1.4.8.5.1 for additional information about PBGC systems. For Spectrum file formats, see attachment 18.

o A small portion of these changes originate in PBGC’s Non-Spectrum Form Data Entry (NFDE pronounced “Nifty”) application.

They are manually approved via a signed paper form (signatures validated by BPD employees), and are packaged for transmission to the PA in the format of an Excel spreadsheet called the adjustment file. For NFDE file formats, see attachment 24, but note that by design the NFDE file format can be easily modified.

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- The vast majority of NFDE transactions received by the PA are transmitted electronically.

- In unusual situations (see 1.4.5.6.1) the transactions are received by the PA via a faxed NFDE form.

1.4.4.2 Acknowledgement of approved changes to PBGC: Transmit to PBGC electronic files acknowledging each PBGC-approved change. For the cutoff file (see 1.4.1.9.2) the acknowledgement must be received the same day. For other files in

1.4.4.1 the acknowledgement must be received by the next business day. For Spectrum acknowledgement file formats, see attachment 19 (NFDE uses the same format). (Performance Standards 1.4.16.1):

o Identify each transaction that was correctly processed in the PA pension payment system.

o Identify each transaction that was not correctly processed in the PA pension payment system and provide an error code and description.

1.4.4.3 Trial balance projection to PBGC: Transmit to PBGC an electronic file containing a projection of payments to be made in the upcoming monthly or weekly payment cycle to support PBGC’s Trial Balance process. For trial balance file format, see attachment

27. (Performance Standards 1.4.16.1).

1.4.4.4 Payment history to PBGC: Transmit to PBGC electronic payment history files (participant sub-ledgers) containing the details of all PBGC payments made in a given check run and all adjustments to payee records effected in the relevant time period (1.4.1.9) to support PBGC’s Post Balance and other processes. Records in these files are matched to corresponding records in PBGC’s system based on a unique payment identifier and are visible to Spectrum users. For payment history file formats, see attachment 28. (Performance Standards 1.4.16.1)

1.4.4.5 ACH Returns and NOCs: Transmit ACH return (1.4.5.4) and ACH Notices of Change (NOC) (1.4.5.7) files to PBGC at least once per week. For ACH NOC and return file formats, see attachment 22. (Performance Standards 1.4.16.1). Note: The ACH return file described here is in addition to the ACH return notification for PBGC (1.4.5.4.1).

1.4.4.6 Data synchronization: Transmit a quarterly reconciliation file to PBGC.

o The goal of Data Synchronization is to minimize any data differences between the paying agent’s system and PBGC’s system.

o The PA transmits a defined extract from the PA’s pension payment system and PBGC loads that into the enterprise database and compares it against a similar extract from PBGC’s system. Differences are identified and BPD advises PVA/FBA/CSD on the appropriate corrective action. The current file format is included as attachment 23 for reference.

1.4.4.7 MyPBA: Provide a Web service for PBGC’s MyPBA online self-service system (www.pbgc.gov/mypba) to serve payment history data (payee sub-ledgers) and images of checks and tax forms (e.g. 1099-R) to PBGC payees (see attachment 6).

1.4.4.8 Testing: Upon PBGC request, participate in tests of changes or releases of PBGC’s or the PA’s systems including, but not limited to, the following types of testing:

1.4.4.8.1 Full pay cycle: Processing a full check run (1.4.1.9.1) from start to finish, including file transmissions and acknowledgments, balancing, and running a test check run;

1.4.4.8.2 Regression testing to ensure that the changes applied to the application have not adversely affected previously tested functionality;

1.4.4.8.3 Performance testing to ensure that the application performs to customer expectations (response time, availability);

1.4.4.8.4 Parallel check runs reproducing a production check run in the test environment and justifying all unexpected results;

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1.4.4.8.5 Transmission of files to and from the PA’s and PBGC’s systems;

1.4.4.8.6 Setting up test data and testing environment for PBGC’s use.

1.4.4.9 Tax forms, check images, daily settlement data: PBGC may wish to import tax forms and check images into PBGC’s Image Processing System (IPS, see 1.4.8.5.1) and daily settlement data into Spectrum. If so, this will be handled by a fixed price work order (see 1.4.16).

1.4.5 The PA shall provide exception processing services.

1.4.5.1 Use exception processing work queues established in the PBGC collaboration tool: Many exception-processing requests (e.g.

stop payments) are initiated by PBGC employees via electronic forms (called eCARFs) residing on the PBGC collaboration tool (see eCARF entry in glossary). PBGC, not the PA, maintains and supports the collaboration tool.

o Initiators fill out electronic forms specific to each particular type of transaction.

o When the initiator saves the form, it populates the appropriate work queue overseen by BPD employees for some types of transactions or PA employees for other types of transactions.

o Fulfilling an eCARF request in a BPD or PA employee’s work queue may involve data entry into the PA’s pension payment system, or some other action.

Pull ACH (ACH Deletion)

Return To Trust (Benefit Payment Check)

Return to Trust (ACH Replacement Check)

Return to Trust (Deduction Check)

Stop and Reissue (Benefit Payment Check)

Stop and Reissue (Benefit Payment Check) with Address Change

Stop and Reissue (ACH Replacement Check) with Address Change

Stop and Reissue (Deduction Check) with Address Change o When the BPD or PA employee completes the action and saves the eCARF, an automatic email generated by the collaboration tool alerts the initiator of the status of the request.

o The initiator prints the completed eCARF and scans it into the payee’s file where it is visible via the PBGC’s Image Processing System. PBGC may automate this process in the future.

o Stop pending ACH payments before submission to the ACH Operator upon PBGC eCARF request (“ACH deletions”)(see section

1.4.16.2 Performance Standards).

o Stop payment on already –issued checks upon PBGC eCARF request (see section 1.4.16.2 Performance Standards).

1.4.5.2 After all approved changes have been processed, but prior to creating the ACH or paper check file, provide pre-check run exception reports to PBGC to prevent improper payments and other anomalies (BPD Reports see, 1.4.12.9). The exact nature of these reports is dependent upon the PA’s pension payment system. The following categories are provided as examples:

1.4.5.2.1 Potential duplicate payments;

1.4.5.2.2 Payment records without the necessary unique payment identifier needed to match the payment to PBGC’s system;

1.4.5.2.3 Payment status disagrees with PBGC’s system;

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1.4.5.2.4 Deductions exceed gross payment;

1.4.5.2.5 Other exceptions (e.g. SSN changes that cannot be transmitted electronically).

1.4.5.3 Issue checks to PBGC payees to replace stopped payments upon PBGC request (Performance Standards 1.4.16.2).

1.4.5.3.1 Reissue stopped checks to permanent address;

1.4.5.3.2 Mail reissued checks upon PBGC request;

1.4.5.3.3 Issue replacement checks for stale-dated (1.4.1.8.4) checks and

1.4.5.3.4 Issue manual checks in rare situations;

1.4.5.4 Process ACH returns;

o Process ACH return entries from the ACH Operator and RDFIs, transmit electronic files containing sufficient information on returns so that they can be matched to the associated records on PBGC’s system (see 1.4.4.5).

o If the payee is not deceased, issue a replacement payment for ACH returns to a verified destination (Performance Standards 1.4.16.2);

1.4.5.4.1 Provide a mechanism to notify PBGC of the returns (BPD Reports see 1.4.12.10).

1.4.5.5 Return funds to PBGC Account for cancelled payments

1.4.5.5.1 Checks stopped but not reissued;

1.4.5.5.2 Stale-dated checks (1.4.1.8.4);

1.4.5.6 Process, control, and document a very limited number of manual changes requested by approved BPD personnel to avoid improper payments;

1.4.5.6.1 In urgent situations these changes are communicated to the PA by:

- a faxed NFDE form (see 1.4.4.1); or

- an email from an authorized BPD employee. The email is imaged into the payee’s file which can be viewed by PBGC employees via

PBGC’s IPS system; or

- a phone call followed by an email which is imaged into the payee’s file.

1.4.5.6.2 Once each quarter, the PA shall email the BPD Manager requesting re- certification of the BPD personnel authorized to request these last minute manual changes. (BPD Reports see 1.4.12.11)

1.4.5.7 Process ACH Notices of Change (NOCs) and transmit electronic files with sufficient information on NOCs so that they can be matched to the associated records on PBGC’s system (see 1.4.4.5).

1.4.5.8 Recover ACH payments from RDFIs (Performance Standards 1.4.16.2);

1.4.5.8.1 Process and track ACH reclamations upon PBGC request to reverse payments made to deceased individuals.

1.4.5.8.2 Process and track ACH recoveries upon PBGC request to reverse payments made in error.

1.4.5.8.3 Process and track written demands (a.k.a. Letters of Indemnification – LOI) for payment to RDFIs upon PBGC request for payments not subject to ACH reclamation or subsequent to an unsuccessful reclamation or recovery.

1.4.5.8.4 Provide a monthly aging report for ACH reclamations, recoveries, written demands for payment, and fraud investigations still in process. (BPD Reports see 1.4.12.14)

1.4.5.9 Process and track ACH traces to determine the status of electronic payments upon PBGC eCARF request;

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1.4.5.10 Provide copies of paid checks (front and back) not available to PBGC via the PA’s pension payment system upon PBGC eCARF request.

1.4.5.11 Adjust the electronic payment history of individual payees to accurately reflect the events that occurred (stopped payment, reissued payment, funds returned, etc.) upon PBGC request (see section 1.4.16.2 Performance Standards).

1.4.5.12 Issue checks to PBGC payees to refund non-benefit payments upon PBGC request.

1.4.5.13 Process IRS tax levies deductions upon PBGC request.

1.4.5.14 Forward subpoenas, IRS tax levies, QDROs and other legal documents to PBGC for processing.

1.4.5.15 Assist with investigation of individual payment-related fraud upon PBGC request.

1.4.6 The PA shall support written and oral communications with or involving PBGC payees.

1.4.6.1 Print/mail checks, check stubs and statements with custom PBGC messages:

o The custom messages on current checks, check stubs, and advices are included here as examples only (see attachment 6);

o Messages:

- Encourage a switch to direct deposit and usage of MyPBA on annuity checks (see center current check stubs);

- Direct questions to PBGC’s 800 number (see upper right of current check stubs).

- Instructions for address changes (upper right);

- Additional message promoting direct deposit on annuity checks (upper right);

- Statement that PBGC is a U.S. Government Corporation (upper right).

1.4.6.2 On check stubs include the year-to-date accumulation for each payment source (taxable, non-taxable, estimated, and guaranteed).

1.4.6.3 Print/mail required tax forms (e.g. 1099-R, 1042-S and 480.7C) to individual PBGC payees in accordance with IRS standards including corrected tax forms to account for payment adjustments authorized by PBGC (see 1.4.5.13). (Reports 1.4.15.2)

1.4.6.4 Print/mail paper statements to payees (see attachment 7) (Reports 1.4.15.3):

o When payee receives their first ACH payment (new payee or payee who previously received paper checks);

o When net benefit amount changes from one recurring ACH payment to the next (“net change of advice”);

o When net benefit amount is zero due to deductions equaling gross benefit (“advice of distribution”);

o When trustee to trustee transfers (e.g. IRA rollovers) are processed.

1.4.6.5 Insert ad hoc written communications with checks or other standard mailings upon PBGC request. Example inserts:

o Direct deposit brochure: http://www.pbgc.gov/Documents/directdposit.pdf or attachment 8.

1.4.6.6 Use PBGC’s Document Management Center’s (DMC) address as the return address and the PBGC Customer Contact Center (CCC) phone number on outgoing written communications to individual PBGC payees. Do not include the PA address or phone number on these mailings, unless instructed by the COR.

1.4.6.7 Forward incoming mail and phone calls from PBGC payees to PBGC’s Document Management Center (DMC) and Customer Contact Center (CCC) respectively.

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o In the event that (despite 1.4.6.6) the PA receives mail associated with individual PBGC payees (e.g. subpoenas, levies, family members returning checks, etc.), the PA shall securely forward the documents via express mail to the PBGC Document Management Center (DMC) for processing.

o In the event that (despite 1.4.6.6) the PA receives phone calls from individual PBGC payees, the PA shall advise the caller to contact the PBGC Customer Contact Center (CCC).

o If the PA receives a check payable to the PA, intended to repay PBGC for a benefit overpayment, the PA shall mail a check made payable to PBGC the OBA lockbox.

1.4.7 PBGC may request the PA to support PSD with onboarding payees in newly terminated pension plans (a.k.a Plan Assumption).

1.4.7.1 Work closely with pension plan administrators and the plan’s paying agent to ensure a smooth transition of the benefit payment administration functions to PBGC. PBGC estimates support would be needed for approximately 40 newly trusteed pension plans each year.

o Contact plan’s paying agent to inform that PBGC will transfer payment responsibility and notify of the date of the first payment.

This contact would mostly be telephone communications.

1.4.7.2 Obtain check registers or other sources of payment data to be used for the payee data loading into PBGC systems.

o Provide the plan’s administrator or paying agent information on items needed in both paper and electronic format (encrypted “raw” data in ASCII delimited text format) that is to be sent to PBGC.

1.4.8 The PA shall use certain PBGC systems.

1.4.8.1 For communication, use PBGC’s email system and collaboration tool;

1.4.8.2 For exception processing, use PBGC’s web collaboration tool (eCARFs portlets, etc. – see 1.4.5.1);

1.4.8.3 For individual-payee research use PBGC’s Spectrum, and IPS;

1.4.8.4 For performance and other reporting, use PBGC’s web collaboration tool (PA Acquisition Support Metrics – PAASM).

1.4.8.5 Additional details

1.4.8.5.1 Benefit Administration (BA) is PBGC’s pension recordkeeping system. BA consists of a collection of PBGC IT applications that maintain records for over

1.5 million participants in trusteed pension plans. BA applications include:

- NFDE (“Nifty”) is used for transmitting approved changes to the PA system and are described in section 1.4.4.1.

- The eCARF functionality of the PBGC web collaboration tool is used for exception processing and is described in section

1.4.5.1.

- The PAASM (PA Acquisition Support System) functionality of the PBGC collaboration tool is the mechanism through which the

PA uploads scheduled reports and other deliverables and BPD measures the PA’s performance.

- Spectrum is a web-based application which provides PBGC users with the ability to create, manage, edit, and review customer information and benefits data. Spectrum enables PBGC users to create/edit customer benefits and payments, suspend/resume

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customer payments, terminate/reinstate customer benefits, and view customer payment history information. 1.4.4.1 describes how benefit changes made in Spectrum flow to the PA.

- The IPS (Image Processing System) suite of products enables PBGC users to scan, index, and commit documents to the IPS repository and to retrieve them as necessary to support various business processes.

1.4.9 The PA shall support financial management activities in accordance with PBGC’s Financial Operations Department (FOD) requirements.

1.4.9.1 Cash accounts: Establish cash accounts, each with a unique identifier, sufficient to segregate PBGC funds to the extent necessary to fulfill contract requirements and to efficiently account and provide reports for PBGC funds as well as to optimize cash management for PBGC’s benefit.

1.4.9.2 Short Term Investment Fund: Under PBGC’s direction, invest the benefit payment funds transferred to the PA in a Short Term Investment Fund (STIF). Draw down the STIF in an amount only large enough to cover payments presented. All income from the STIF must accrue to PBGC and be transferred to the appropriate PBGC U.S. Treasury account by the second business day of the following month. The contractor shall provide financial statements for this fund including transaction reports and trial balance to PBGC every month. (FOD Reports see 1.4.14)

1.4.9.3 Insurance: The contractor shall obtain insurance for the disbursement account(s) to the maximum amount held in the account(s) on any given day. PBGC will wire transfer or transfer by ACH all funds needed to cover benefit payments. (BPD Reports see 1.4.12.12)

1.4.9.4 Cash Reconciliations: Provide monthly cash reconciliations for each account maintained on PBGC’s behalf for benefit payments within 30 calendar days of the following month. (FOD Reports see section 1.4.14). The reconciliations shall include the following:

o Beginning and ending cash balance;

o Funds transferred into the account, returned checks, returned ACH payments, stopped checks, purged checks, interest earned and anything else that increases the balance;

o Funds transferred out of the account to other PBGC accounts, checks cashed, ACH payments settled, tax remittances and anything else that decreases the balance;

o Outstanding checks, deposits in transit;

o Checks cashed prior to issuance date;

o Control log entries;

o Errors with explanations and other items affecting the reconciliation and o Make all adjustments and reconcile them monthly;

1.4.9.5 Calculate funding: After the final transmission and balancing of approved payment-related changes from PBGC associated with a given payment date, calculate total funding needed from PBGC for each of the following categories.

1.4.9.5.1 First of the month payments

- Corporate monthly pension

- Corporate monthly lump sum

- Corporate monthly lump sum split (e.g. part of the payment sent to the individual, part rolled into an IRA)

- Fleming monthly pension

- Fleming monthly lump sum

- Page-Collins monthly lump sum

- Rettig monthly lump sum

- Other special situation monthly pension and

- Other special situation monthly lump sum

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1.4.9.5.2 Weekly payments

- Corporate weekly pension

- Corporate weekly lump sum

- Corporate weekly lump sum split

- Fleming weekly pension

- Fleming weekly lump sum

- Page-Collins weekly lump sum

- Rettig weekly lump sum and

- Other special situation weekly lump sum

1.4.9.5.3 Daily payments (rare)

- Corporate manual checks and

- Page-Collins manual checks

1.4.9.6 Request funding: Submit requests for PBGC to transfer funds to support benefit payments to PBGC via PBGC’s Portal no less than four business days prior to the first of the month.