Synopsis Transportation Industry Single-Employer Pension Plan Sponsor(s) Valuation and Restructuring Financial Advisory Services Engagement 2021.pdf

Notice Type: Synopsis/Pre-Solicitation No. 16PBGC21R0006

Title: Transportation Industry Single-Employer Pension Plan Sponsor(s) Valuation and

Restructuring Financial Advisory Services Engagement 2021

Contracting Office Address:

Pension Benefit Guaranty Corporation (PBGC), Procurement Department, 1225 I Street NW, Suite 3333, Washington DC, 20005

Point of Contact(s):

Primary: Brittany Helmkamp

Contracting Officer, Procurement Department

Email: Helmkamp.brittany@pbgc.gov

Secondary: Angela Dorsey

Contract Specialist, Contractor Support

Email: Dorsey.angela@pbgc.gov

Subject:

This is a Synopsis/Pre-Solicitation. This is NOT a solicitation for proposals, proposal abstracts, or quotations. Due to sensitivity of the Request for Proposal (RFP) content, a solicitation will be issued at a later date, on or about February 8, 2021. PBGC will provide the solicitation to interested Offerors via email, only after interested Offerors submit an Intent to Bid and a signed

Non-Disclosure Agreement (‘NDA Form’) to the PBGC Procurement Department at the POC email listed above.

Requirement Background Information, Purpose and Objective:

The Employee Retirement Income Security Act of 1974 (ERISA) established Pension Benefit

Guaranty Corporation (PBGC) as a federal corporation to encourage the growth of defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at a minimum. Defined benefit pension plans promise to pay a specified monthly benefit at retirement, commonly based on salary and years on the job. PBGC, a wholly owned United States Government corporation, administers the insurance program and termination process for most private-sector defined benefit pension plans that are tax-qualified under the Internal Revenue Code. PBGC is headed by a Director who reports to a board of directors consisting of the Secretaries of Labor, Commerce, and Treasury, with the Secretary of

Labor as Chairman. General tax revenues do not fund PBGC. PBGC collects insurance premiums from employers that sponsor insured pension plans, earns money from investments and receives the assets of the pension plans it terminates. PBGC monitors the corporate events and transactions of defined benefit pension plan sponsors to mitigate risks to the insurance program and increase overall plan funding levels.

mailto:Helmkamp.brittany@pbgc.gov mailto:Dorsey.angela@pbgc.gov

The purpose of this Synopsis/Pre-Solicitation is to notify potential Offerors that PBGC intends to solicit proposals to select a valuation and restructuring financial advisory services contractor to determine the outlook of the airline industry and the feasibility of the Sponsors’ businesses, to assess likely restructuring plans and to evaluate how the various strategic alternatives that the

Sponsors are likely to undertake may affect PBGC’s recoveries. For this engagement, PBGC will require the assistance of an experienced financial advisory services firm with proven US financial advisory track record leading or co-leading large complex in- or out- of court restructuring transactions involving enterprises with funded debt exceeding $10 billion, and with solid experience in distress valuation and turnaround.

Request for Proposal Release Information:

Enclosed is an Intent to Bid Form and a Non-Disclosure Agreement (‘NDA Form’). The interested Offeror must sign and return the NDA Form to PBGC via email to PBGC Procurement

Department at the POC email listed above. PBGC will countersign the Non-Disclosure

Agreement and email the fully executed Non-Disclosure Agreement back to the interested

Offeror, along with the solicitation package, containing the RFP. The RFP will disclose certain sensitive information in connection with the subject project associated with the Transportation

Industry Single-Employer Pension Plan Sponsor(s) Valuation and Restructuring Financial

Advisory Services Engagement 2021. This information is pertinent for a proposal preparation.

The Offeror shall confidentially maintain all applicable information contained in the RFP package released by PBGC in connection with the subject project associated with this requirement, and not allow said information of any type to pass to unauthorized parties.

NDA Form submission instructions are as follows: Please submit the signed and scanned NDA

Form via email to Brittany Helmkamp at Helmkamp.brittany@pbgc.gov and Angela Dorsey at

Dorsey.angela@pbgc.gov by February 5, 2021 by 12:00PM EST. Calls, facsimile, mail or email inquiries about NDA Form submission will not be entertained. Failure to comply with NDA

Form submission instructions may result in the rejection of the NDA Form.

This announcement only contains the Synopsis/Pre-Solicitation. The RFP is anticipated to be issued as full and open and is under the NAICS code is 523930 (Investment Advice). The

Government contemplates award of a Firm-Fixed- Price (FFP) contract for a period of approximately five years, divided into one base and four option periods in accordance with FAR

Part 17.2. Offerors must be registered in the System for Award Management (SAM) located at https://www.sam.gov. The RFP will be available via email on or about February 8, 2021. The

RFP will guide thereafter and will contain instructions to Offerors. Due to sensitive / secure nature of RFP package, it shall not be accessible through www.beta.sam.gov. RFPs will be emailed to interested Offerors in response to NDA Forms that are signed and returned by the interested Offerors to PBGC Procurement department in accordance with the NDA Form submission instructions outlined in this Synopsis/Pre-solicitation.

Interested Offerors will be invited to submit a technical and price proposals for Transportation

Industry Single-Employer Pension Plan Sponsor(s) Valuation and Restructuring Financial

Advisory Services Engagement 2021 separately and formally, in accordance with the terms and mailto:Dorsey.angela@pbgc.gov https://www.sam.gov/ http://www.beta.sam.gov/ conditions outlined in the RFP package, in order to be considered for contract award. As stated in this Synopsis/Pre-Solicitation, the RFP will only be released to interested Offerors which submit a signed NDA Form in accordance with the submission instructions.