Justification for other than full and open competition
Awarded Limited / Sole Source Justification Posted
- Solicitation number
- 16PBGC26P0012
- Set-aside
- No set-aside
Opportunity facts
- Contract number
- 16PBGC26P0012 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 awarded a sole-source bridge contract to Allspring Global Investments LLC on September 25, 2026, for active investment management and related services across four Trust Fund fixed-income strategies: Core Fixed Income, Long Duration Fixed Income, Global Fixed Income, and Emerging Markets Debt.
The justification cites 41 U.S.C. 3304(a)(1), implemented through FAR 6.103-1, on the basis that Allspring is the only responsible source capable of providing uninterrupted services. PBGC initiated a competitive solicitation (16PBGC25R0062) in November 2024 but encountered unexpected delays including critical personnel changes, increased data calls, and acquisition policy modifications, requiring reopening for adequate competition. With the prior contract expiring October 1, 2026, and anticipated award of replacement contracts in March 2027, the bridge contract of up to nine months is necessary to ensure service continuity and allow time for transition activities including investment guideline negotiation and system integration. The contract period is six months with an optional three-month extension. The prior contract with Allspring ran from March 30, 2016 through September 30, 2026 and was fully and openly competed. Price reasonableness will be established through comparison to historical prices or alternative analysis methods. The Advocate for Competition approved the justification as of May 7, 2026, and the Contracting Officer will publish required FAR 5.101 notices.
Notice text
This is a Justification for Other Than Full and Open Competition related to contract # 16PBGC26P0012 to ALLSPRING GLOBAL INVESTMENTS LLC awarded on September 25, 2026.
For additional information please see attached Justification for Other Than Full and Open Competition.
Awarded contract 16PBGC26P0012 to unknown vendor for unknown amount on 2026-09-25.
Files
| File | Type | Posted |
|---|---|---|
| Allspring JOFOC Fully Executed.pdf |
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