SAM #16PBGC26P0011

PBGC justification for a sole-source PGIM bridge contract to manage Trust Fund fixed-income portfolios

PBGC published a justification for a sole-source bridge contract with PGIM to continue managing Trust Fund fixed-income portfolios while a replacement procurement is completed. - Agency and notice: Pension Benefit Guaranty Corporation (PBGC), Procurement Department, for its Corporate Investments Department; contract 16PBGC26P0011. This is a justification for other than full and open competition, not a new competitive solicitation or contract award. - Proposed contractor and rationale: PGIM is proposed as the sole-source bridge provider to prevent a gap in portfolio oversight, trading, risk management, and compliance monitoring while PBGC conducts a competitive replacement procurement. - Services: Active management and related services for the PBGC Trust Fund’s Core Fixed Income, Long Duration Fixed Income, Global Fixed Income, and Emerging Markets Debt portfolios. Portfolios are intended to exceed their respective benchmarks while staying within investment-guideline risk parameters. - Period: The bridge is intended to begin September 30, 2026, when the current contract ends. The anticipated term is six months, with an optional three-month extension; the justification discusses a bridge of up to nine months. PBGC estimates the replacement award for March 2027. - Unspecified details: No portfolio quantities, product line items, or contract value are provided.

Description

This is a Justification for Other Than Full and Open Competition related to contract # 16PBGC26P0011 to PGIM, INC awarded on September 25, 2026.

For additional information please see attached Justification for Other Than Full and Open Competition.  

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