PBGC awards $1.1M sole-source contract for CUSIP data services to FactSet Research Systems Inc

Contract Overview

Contract Amount: $11,077 ($11.1K)

Contractor: Factset Research Systems Inc.

Awarding Agency: Pension Benefit Guaranty Corporation

Start Date: 2025-12-01

End Date: 2026-11-30

Contract Duration: 364 days

Daily Burn Rate: $30/day

Competition Type: NOT COMPETED UNDER SAP

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: IT

Official Description: THE PURPOSE OF PURCHASE ORDER 16PBGC26P0002 IS TO ESTABLISH A SINGLE-AWARD WRITTEN AGREEMENT FOR CUSIP DATA SERVICES THE PERIOD OF PERFORMANCE IS DECEMBER 1, 2025 THROUGH NOVEMBER 30, 2026.

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20024

State: District of Columbia Government Spending

Plain-Language Summary

Pension Benefit Guaranty Corporation obligated $11,077 to FACTSET RESEARCH SYSTEMS INC. for work described as: THE PURPOSE OF PURCHASE ORDER 16PBGC26P0002 IS TO ESTABLISH A SINGLE-AWARD WRITTEN AGREEMENT FOR CUSIP DATA SERVICES THE PERIOD OF PERFORMANCE IS DECEMBER 1, 2025 THROUGH NOVEMBER 30, 2026. Key points: 1. Contract awarded for essential CUSIP data services, crucial for financial market identification. 2. Sole-source award to FactSet Research Systems Inc. raises questions about competition and potential cost savings. 3. The contract value of $1.1M for one year represents a significant investment in financial data. 4. Limited competition may impact the government's ability to secure the best possible pricing. 5. The IT sector, specifically data processing and hosting, is the focus of this expenditure.

Value Assessment

Rating: questionable

The contract value of $1.1M for a one-year period for CUSIP data services appears high without competitive benchmarking. Pricing assessment is difficult due to the sole-source nature of the award.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

This contract was not competed under SAP, indicating a sole-source award. This limits price discovery and may result in higher costs for the government compared to a competitive process.

Taxpayer Impact: Taxpayers may bear a higher cost due to the lack of competition, as the Pension Benefit Guaranty Corporation did not explore alternative vendors or pricing.

Public Impact

Ensures continued access to critical financial data (CUSIP numbers) for market operations. Potential for higher costs to taxpayers due to the absence of a competitive bidding process. Highlights the reliance on specialized data providers within the financial sector. The Pension Benefit Guaranty Corporation's operational efficiency may be impacted if data access is disrupted.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Sole-source award limits competition and price negotiation.
Lack of transparency in pricing due to no-bid process.
Potential for overpayment without market comparison.

Positive Signals

Ensures continuity of essential CUSIP data services.
Contract awarded to a known provider of financial data.

Sector Analysis

This contract falls within the IT sector, specifically data processing and hosting services. Benchmarking is difficult without competitive data, but $1.1M for a year of specialized financial data is a substantial investment.

Small Business Impact

The data indicates that this contract was not awarded to small businesses, as both the vendor and the agency are large entities. There is no indication of subcontracting opportunities for small businesses in this sole-source award.

Oversight & Accountability

Oversight is needed to ensure the Pension Benefit Guaranty Corporation is obtaining fair value for this sole-source contract. Future procurements should prioritize competitive processes to ensure accountability and cost-effectiveness.

Related Government Programs

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
Pension Benefit Guaranty Corporation Contracting
Pension Benefit Guaranty Corporation Programs

Risk Flags

Sole-source award.
Lack of competitive bidding.
Potential for inflated pricing.
Limited transparency on cost justification.
No small business participation evident.

Frequently Asked Questions

What is this federal contract paying for?

Pension Benefit Guaranty Corporation awarded $11,077 to FACTSET RESEARCH SYSTEMS INC.. THE PURPOSE OF PURCHASE ORDER 16PBGC26P0002 IS TO ESTABLISH A SINGLE-AWARD WRITTEN AGREEMENT FOR CUSIP DATA SERVICES THE PERIOD OF PERFORMANCE IS DECEMBER 1, 2025 THROUGH NOVEMBER 30, 2026.

Who is the contractor on this award?

The obligated recipient is FACTSET RESEARCH SYSTEMS INC..

Which agency awarded this contract?

Awarding agency: Pension Benefit Guaranty Corporation (Pension Benefit Guaranty Corporation).

What is the total obligated amount?

The obligated amount is $11,077.

What is the period of performance?

Start: 2025-12-01. End: 2026-11-30.

What is the justification for the sole-source award of CUSIP data services, and were alternative solutions or vendors considered?

The justification for a sole-source award typically stems from unique capabilities, proprietary data, or urgent needs where only one vendor can fulfill the requirement. Without further details, it's unclear if PBGC explored alternatives or if FactSet's CUSIP data is truly unique and indispensable. A thorough review of the justification documentation is necessary to assess the validity of the sole-source determination and ensure taxpayer funds are used efficiently.

How does the $1.1M annual cost for CUSIP data services compare to industry benchmarks or previous contract pricing for similar services?

Benchmarking the $1.1M annual cost is challenging without access to FactSet's specific service tiers and the competitive landscape for CUSIP data. However, given the sole-source nature, it's crucial for PBGC to have internally validated that this price represents fair market value. Comparing it to historical pricing for the same or similar services, if available, and understanding the scope of data provided is essential for assessing value for money.

What measures are in place to ensure the effectiveness and reliability of the CUSIP data services provided by FactSet Research Systems Inc. under this contract?

Effectiveness and reliability are typically ensured through service level agreements (SLAs) within the contract, performance metrics, and regular reporting. PBGC should have defined key performance indicators (KPIs) related to data accuracy, timeliness, and availability. Mechanisms for issue resolution and vendor performance reviews are also critical to ensure the agency receives the expected value and that the data supports its mission-critical functions.

Industry Classification

NAICS: Information › Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services › Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services

Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › IT AND TELECOM - END USER

Competition & Pricing

Extent Competed: NOT COMPETED UNDER SAP

Solicitation Procedures: SIMPLIFIED ACQUISITION

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 45 GLOVER AVE, NORWALK, CT, 06850

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $11,077

Exercised Options: $11,077

Current Obligation: $11,077

Actual Outlays: $11,077

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Timeline