Management of Locally Employed Staff Pension Plan, U. S. Embassy Belmopan, Belize

The U.S. Department of State is seeking proposals to manage a defined contribution pension plan for locally employed staff at the U.S. Embassy in Belmopan, Belize. Offerors are invited to submit proposals by February 2, 2024 to administer assets over BZD$10 million by converting accrued benefits from the current defined benefit plan to a defined contribution plan covering 147 active staff and contractors. Proposals will be evaluated based on past performance administering similar retirement plans, technical acceptability, price, and responsibility. Questions for clarification were due by November 22, 2023 and December 15, 2023.

There is no set-aside designated for this procurement. The NAICS code is 525990 and PSC code is R499. The incumbent contractor is not named. The defined contribution plan currently has 147 active members contributing 5.06% of salary split between employer and employee contributions, as well as two deferred members, and one retired member receiving benefits. The contract will be awarded to the offeror presenting the most advantageous proposal based on the review of past performance, technical acceptability, price evaluation, and responsibility determination. The place of performance will be Belmopan, Belize.