Inactive

The Actuarial Services and Technology Department’s (ASTD) mission is to provide actuarial expertise and support in the development, operation, and evaluation of PBGC insurance programs and to calculat... The Actuarial Services and Technology Department’s (ASTD) mission is to provide actuarial expertise and support in the development, operation, and evaluation of PBGC insurance programs and to calculate and value termination benefits under Title IV of ERISA. The completion of calculations and determination of the present value of future liabilities is an iterative process and depends on the type and quality of information available to PBGC at the time of trusteeship. There are a series of phases that define this work, best described below: 1) Phase 1: Valuation Phase: During the Valuation phase, applicable PBGC federal limitations are applied to plan benefits, the present value of termination benefits are calculated, the benefit statements are programmed for the Benefit Statements and Retirement Statements (BSRS), and documentation of final policy decisions take place. At the end of Phase 1, the Valuation Phase, all valuation electronic files are submitted to Technology and Risk Management Division (TRMD) for software review and closeout. 2) Phase 2: Post-Valuation Phase: Once the Actuarial Case Report (ACR) is completed, Actuarial Case Processing Division (ACPD) continues into a post-valuation phase where other services are provided, including: assistance with issuing benefit determinations, answering questions from the PBGC Appeals Division, and all participant requests until the case has closed. Plan Closing occurs at the tail end of this post- valuation phase. The objective of this contract is to obtain highly qualified and specialized professional services and personnel resources to support the PBGC's OBA and its departments/divisions in accurate and timely calculation of benefits for participants in various PBGC trusteed plans. The support is primarily provided to the OBA's ASTD and its four divisions, the Actuarial Services Division (ASD), the Actuarial Case Processing Division (ACPD), Actuarial Present Value of Future Benefits Division (APVFBD) and the Technology/TRMD. The contractor is expected to provide actuarial expertise to ensure timely and accurate completion of tasks associated with the valuation of termination benefits under Title IV of ERISA of 1974. The required services shall be provided in accordance with: Title IV of ERISA; applicable PBGC regulations, standards, settlements, policies, and procedures; and applicable OBA and ASTD operations and technical manuals. ? The main program outcome of this contract is to acquire necessary actuarial support and expertise for the PBGC in order to meet its goal of paying pension benefits on time and accurately, and to maintain high standards of stewardship and accountability. This work is imperative to PBGC OBA meeting its overall mission. The Contractor shall provide professional support services to assist the PBGC, OBA, and all related offices in ensuring the effective delivery of their mission and function as described in Section 2 - Background, above. The Contractor shall provide commercial, professional services that support all levels of pension plan complexities. The Contractor shall provide necessary actuarial support and expertise to PBGC to meet its goal of paying pension benefits on time and accurately and maintain high standards of stewardship and accountability. The Contractor shall provide a variety of services to OBA, as outlined below in PWS Sections 5: Performance Requirements for the Strategic Target Pension Plans