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JUSTIFICATION FOR OTHER THAN FULL AND OPEN COMPETITION

Awarded

16PBGC26P0012Federal

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

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The Pension Benefit Guaranty Corporation, an agency within the Department of Labor, awarded contract 16PBGC26P0012 to Allspring Global Investments LLC on September 25, 2026. This action was executed as a sole-source bridge contract under a Justification for Other Than Full and Open Competition to ensure the continuous active investment management of fixed-income portfolios. The procurement, categorized under NAICS code 523940, was necessary to prevent a lapse in critical financial services while the agency completes a separate competitive source selection process, which experienced unexpected timeline delays. The agreement provides for an initial period of performance of six months, with the possibility of a three-month extension. Managed by the office in Washington, DC, the contract serves as a temporary measure to maintain portfolio stability until the finalization of Solicitation No. 16PBGC25R0062. Primary coordination for this action is handled by Joseph Brummell and Shelly Thieme.

General Info

PBGC awarded Allspring Global Investments a sole-source bridge contract for fixed-income portfolio management.

Agency

Department Of Labor → Pension Benefit Guaranty Corporation

NAICS

523940 - Portfolio Management and Investment Advice

Place of Performance

51595, DC, USA

Set-Aside

NONE

Documents

1

PBGC Justification for Other Than Full and Open Competition - Allspring Global

justification-and-authorization

Low

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Timeline

PhaseAwarded

PostedOct 1

Justification (J&A)

AwardedOct 15

Contract was awarded

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Organization & Contact Information

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AgencyDepartment Of Labor → Pension Benefit Guaranty Corporation

Contacts2 people available

OfficeWASHINGTON, DC, 20024, USA

Organization / AgencyDepartment Of Labor → Pension Benefit Guaranty Corporation

Office AddressWASHINGTON, DC, 20024, USA

Contacts

Joseph Brummell

contact@example.gov

Shelly Thieme

contact@example.gov

Full Description

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This is a Justification for Other Than Full and Open Competition related to contract # 16PBGC26P0012 to ALLSPRING GLOBAL INVESTMENTS LLC awarded on September 25, 2026.

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

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