FY26 PIMS Peer Review on Plan Sponsor Health
Contract Overview
Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.
AI Contract Overview
The Pension Benefit Guaranty Corporation (PBGC) is seeking a qualified independent contractor to perform a targeted peer review of the Single-Employer and Multiemployer Pension Insurance Modeling Systems (PIMS) for the 2026–2027 period, as required under Section 40233(a) of the Moving Ahead for Progress in the 21st Century Act (MAP-21). This review specifically focuses on the assumptions and methods used within the current versions of both PIMS models to incorporate the financial health of plan sponsors into their projections, building upon the recently modernized SE PIMS and the aligned economic scenario generator now shared by both systems. The findings will support PBGC’s annual Projections Report and its broader analysis of program solvency, legislative impacts, and internal budgeting, though the review will not cover the legacy SE PIMS model. The solicitation, titled FY26 PIMS Peer Review on Plan Sponsor Health and issued under solicitation number 16PBGC26Q0037, requires the contractor to evaluate the technical soundness, transparency, and appropriateness of modeling approaches related to employer financial conditions, while also welcoming suggestions for refinements based on the contractor’s expertise in pension modeling. Responses are due by August 20, 2026, with work to be performed primarily in Washington, DC. PBGC is open to subcontracting arrangements to ensure the review’s effectiveness and is managed by David Feliciano-Merino of the Office of the Pension Benefit Guaranty Corporation, part of the Department of Labor. The NAICS code for this opportunity is 541990, indicating it is scoped for other professional, scientific, and technical services.
General Info
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Washington, DC, 20024, USASet-Aside
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Organization & Contact Information
Full Description
The Moving Ahead for Progress in the 21st Century Act (MAP-21, Pub. L. No. 112-141) was enacted on July 6, 2012. Section 40233(a) of MAP-21 requires the Pension Benefit Guaranty Corporation (PBGC) to contract with a capable agency or organization that is independent of PBGC, to conduct annual peer reviews of the Single-Employer (SE) Pension Insurance Modeling System (PIMS) and Multiemployer (ME) PIMS. In practice, comprehensive reviews are conducted at least once every 5 years with targeted, more limited, reviews conducted in interim years. The focus of this Statement of Objectives (SOO) is a targeted review of SE PIMS and ME PIMS to be conducted in 2026-2027.
The PIMS models are used to develop PBGC’s annual Projections Report, a 10-year projection of the financial position of each of PBGC’s two insurance programs – the Single-Employer Program and the Multiemployer Program, and a long-term (40-year) evaluation of the solvency of the Multiemployer Program. PBGC also uses these forecasting models to analyze the potential effects of legislative proposals that impact private sector defined benefit plans and the insurance programs, as well as for additional budgeting and analysis internal to PBGC.
PBGC has deployed a new, modernized version of the SE PIMS model, which utilizes some alternative modeling assumptions and methods. As part of this deployment, PBGC constructed a new economic scenario generator; the resulting economic scenarios are used in both the SE PIMS and ME PIMS models. This targeted review covers the current versions of the SE PIMS model and the ME PIMS model; it does not cover the prior Legacy version of SE PIMS.
PBGC’s Board is seeking a qualified Contractor to perform a targeted peer review of the assumptions and methods used by the PIMS models to incorporate the financial health of plan sponsors in the projections. The remainder of this document sets forth PBGC’s specific expectations, while noting that PBGC would also welcome suggested refinements, based on the Contractor’s depth of experience and expertise in modeling defined benefit pension plans. PBGC will entertain proposed sub-contracting by the Contractor as needed to best accomplish the review.
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