Justification for other than full and open competition
Awarded Limited / Sole Source Justification Posted
- Solicitation number
- 16PBGC26P0008
- Set-aside
- No set-aside
Opportunity facts
- Contract number
- 16PBGC26P0008 Federal contract award
- NAICS code
- 523940 Portfolio Management and Investment Advice
- PSC
- R710 Support- Management: Financial
- Place of performance
- Washington, District of Columbia, United States
- Points of contact
Notice details come from SAM.gov. Updated .
About this opportunity
The Pension Benefit Guaranty Corporation has awarded a sole-source bridge contract to Wellington Management Company LLP for fixed-income investment management services under contract 16PBGC26P0008 on September 25, 2026, on the basis that Wellington is the only responsible source capable of performing without service interruption.
PBGC's Procurement Department, on behalf of the Corporate Investments Department, initiated this sole-source award to prevent service lapse while completing a competitive acquisition (Solicitation No. 16PBGC25R0062). Wellington currently holds contract PBGC01-CT-16-0019, which expires September 30, 2026 and was originally competitively awarded. The bridge contract covers active investment management and related services for fixed-income portfolios across four Trust Fund strategies: Core Fixed Income, Long Duration Fixed Income, Global Fixed Income, and Emerging Markets Debt. Period of performance is six months with an optional three-month extension.
The justification cites 41 U.S.C. 3304(a)(1). PBGC began competitive acquisition planning in November 2024 but encountered unexpected delays including critical personnel changes, increased administrative data calls, acquisition policy changes, and reopen requirements. The agency projects award of replacement contracts in March 2027 and requires a minimum three-month transition period for investment guideline negotiation and system implementation. No competing sources have expressed written interest in the acquisition. The Contracting Officer will ensure fair and reasonable pricing through historical price comparison and conduct required FAR 5.101 synopsis notices.
Notice text
This is a Justification for Other Than Full and Open Competition related to contract # 16PBGC26P0008 to WELLINGTON MANAGEMENT COMPANY LLP awarded on September 25, 2026.
For additional information please see attached Justification for Other Than Full and Open Competition.
Awarded contract 16PBGC26P0008 to unknown vendor for unknown amount on 2026-09-25.
Files
| File | Type | Posted |
|---|---|---|
| WMC JOFOC Fully Executed.pdf |
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