PBGC Actuarial Support Services for Strategic Pension Plan

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