Inactive

The purpose of this amendment is as follows: 1. Post the Questions and Answers that were submitted (see attachment) 2. To correct the due date of proposals from December 21, 2021 to December 22, 2021.... The purpose of this amendment is as follows: 1. Post the Questions and Answers that were submitted (see attachment) 2. To correct the due date of proposals from December 21, 2021 to December 22, 2021. __________________________________________________________________________________________________ The Investment Program is for a structured program as a manager-of-managers program. No assets are managed internally. PBGC exclusively uses institutional investment management firms to invest its assets, subject to PBGC’s oversight and consistent with the PBGC’s IPS. PBGC selects investment managers subsequent to a rigorous procurement process and delegates investment discretion to them to manage the PBGC’s investment assets consistent with guidelines. The PBGC continuously reviews and evaluates manager performance and conducts extensive due diligence to ensure satisfaction of performance standards and compliance with guidelines.

Inactive

The Pension Benefit Guaranty Corporation (PBGC) is a Government-owned Corporation, established under Title IV of the Employee Retirement Income Security Act (ERISA) of 1974, as amended. The mission of... The Pension Benefit Guaranty Corporation (PBGC) is a Government-owned Corporation, established under Title IV of the Employee Retirement Income Security Act (ERISA) of 1974, as amended. The mission of the PBGC is to operate as a service-oriented, professionally managed agency that protects participants' benefits and supports a healthy retirement plan/system by: i) encouraging the continuation and maintenance of private pension plans, ii) protecting pension benefits in ongoing plans, iii) providing timely payments of benefits in terminated pension plans, and iv) making the maximum use of resources and maintaining premiums and operating costs at the lowest level consistent with statutory responsibilities. The termination insurance program currently covers more than 29,000 defined benefit pension plans. The strategic objectives of the PBGC are to preserve plans and protect pensions, pay timely and accurate benefits and maintain high standards of stewardship and accountability across the program. Additional background information is available at http://www.pbgc.gov/about/about.html. The Corporate Investments Department (CID) of the PBGC is responsible for managing the PBGC Investment Program (the “Program”) in accordance with a Board-approved Investment Policy Statement (IPS) that establishes performance objectives, risk tolerance levels, asset allocation, and other guidelines for the Program. In fulfilling this responsibility, employees of the PBGC and external investment managers retained to manage separate and commingled accounts for the PBGC are required to manage Program assets with care, skill, prudence, and diligence consistent with legal requirements and industry best-practices. CID personnel must apply this standard-of-care in their evaluation and oversight of external investment managers, counterparties, its custodian bank, and all other entities that participate in the Program. To satisfy standard-of-care obligations and comply with the IPS, CID utilizes an Investment Risk Management System (IRMS) with capabilities necessary to measure, evaluate, and manage the risk profile of the Program. The Program is structured as a manager-of-managers program. No assets are managed internally. The PBGC exclusively uses institutional investment management firms to invest its assets, subject to PBGC’s oversight and consistent with the PBGC’s IPS. PBGC selects investment managers subsequent to a rigorous procurement process and delegates investment discretion to them to manage the PBGC’s investment assets consistent with guidelines. The PBGC continuously reviews and evaluates manager performance and conducts extensive due diligence to ensure satisfaction of performance standards and compliance with guidelines.