Lockbox service for Missing Participants Program
Closed Pre-Solicitation Posted
- Solicitation number
- RSP-25-0004
- Responses due
- Set-aside
- No set-aside
Opportunity facts
- NAICS code
- 522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities
- 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 (PBGC) is seeking a contractor to provide lockbox services for its Missing Participants Program, a critical initiative supporting retirement benefits for 44.4 million American workers across 31,200 Defined Benefit Pension plans. The contractor will be responsible for receiving funds from Standard Terminated Plans Administrators, depositing funds into designated accounts, scanning and uploading check copies and payment vouchers to U.S. Bank's secured service daily, and transferring cleared funds to State Street Bank weekly. Key contract requirements include using commercially reasonable efforts to respond to requests within three business days, transmitting electronic data securely, and complying with privacy standards. The Request for Information (RFI) seeks vendor responses detailing their capabilities in providing lockbox services and presenting a recent example of similar service delivery. Responses to the RFI are due by 2 PM Eastern on April 30, 2025, with the solicitation number RSP-25-0004 associated with this procurement.
The procurement is not designated with a specific set-aside and falls under the NAICS category 522320 for Financial Transactions Processing, Reserve, and Clearinghouse Activities. The contract will require the contractor to utilize their own equipment and facilities, with work performed at their site, and no travel is expected. While specific award values are not disclosed in the pre-solicitation notice, the contract appears to support an expanded Missing Participants Program initiated in January 2018 that now includes Defined Contribution Plans and Small Professional Services DB Plans, suggesting potential for significant transaction volumes. The period of performance is ongoing, with monthly invoices due by the 15th of each month and all electronic data required to be transmitted securely. The contract aligns with PBGC's mission, which was established under the Employee Retirement Income Security Act (ERISA) of 1974 to protect retirement income and manage pension insurance premiums.
Notice text
NOTE: Please submit responses to the attached Request for Information (RFI) questions to the Contracting Officer not later than 2 PM Eastern on April 30, 2025.
The Pension Benefit Guaranty Corporation (PBGC) protects the retirement income of 44.4 million American workers in 31,200 Defined Benefit Pension plans. A Defined Benefit (DB) plan provides a specified monthly benefit at retirement, often based on a combination of salary and years of service. PBGC was created by the Employee Retirement Income Security Act (ERISA) of 1974 to encourage the continuation and maintenance of ongoing defined benefit pension plans, provide timely and uninterrupted payment of pension benefits for terminated plans, and keep pension insurance premiums at a minimum. PBGC is not funded by general tax revenues but collects insurance premiums from employees that sponsor insured pension plans, earns money from investments, and receives funds from pension plans it takes over. In January 2018, the Expanded Missing Participants Programs became effective and opened the Program to a much larger pool of plans that include Defined Contribution Plans, Small Professional Services DB Plans (not insured by PBGC) and PBGC insured DB plans closing out in a standard termination.
The contractor shall scan and upload all copies of checks, payment vouchers and other supplemental documents received to U.S. Bank’s secured service (Singlepoint/Image Viewer) daily. The contractor shall also make readily available all ACH and wire payments received via secured account access. The contractor will use commercially reasonable efforts to respond to requests within three business days of the request for such requests that reasonably can be responded to within such time frame or as otherwise agreed by PBGC and contractor.
Please find the attached Statement of Work for reference.
NOTE: Please submit responses to the attached Request for Information (RFI) questions to the Contracting Officer not later than 2 PM Eastern on April 30, 2025.
Files
| File | Type | Posted |
|---|---|---|
| Statement of Work.pdf | ||
| Lockbox RFI Questions.docx | DOCX document |
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