PBGC awards $57K contract to Bloomberg for investment return data, extending to February 2027

Contract Overview

Contract Amount: $57,180 ($57.2K)

Contractor: Bloomberg Index Services Limited

Awarding Agency: Pension Benefit Guaranty Corporation

Start Date: 2026-03-07

End Date: 2027-02-05

Contract Duration: 335 days

Daily Burn Rate: $171/day

Competition Type: NOT COMPETED

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: THE CONTRACTOR SHALL PROVIDE MONTHLY INVESTMENT RETURN DATA FOR STANDARD, BLENDED, AND CUSTOM BLOOMBERG L.P. ("BLOOMBERG") INDICES.

Place of Performance

Location: NEW YORK, NEW YORK County, NEW YORK, 10022

State: New York Government Spending

Plain-Language Summary

Pension Benefit Guaranty Corporation obligated $57,180.48 to BLOOMBERG INDEX SERVICES LIMITED for work described as: THE CONTRACTOR SHALL PROVIDE MONTHLY INVESTMENT RETURN DATA FOR STANDARD, BLENDED, AND CUSTOM BLOOMBERG L.P. ("BLOOMBERG") INDICES. Key points: 1. Contract focuses on providing essential investment return data for various indices. 2. The award was made via a purchase order, indicating a streamlined acquisition process. 3. Duration of the contract is approximately 11 months, ending in early 2027. 4. The service is critical for the Pension Benefit Guaranty Corporation's financial oversight. 5. Fixed-price contract type helps manage cost certainty for the agency.

Value Assessment

Rating: good

The contract value of $57,180.48 for approximately 11 months of service appears reasonable for specialized financial data provision. Benchmarking against similar data services from Bloomberg or other financial information providers would offer more precise value assessment. Given the niche nature of index return data, direct comparisons might be limited, but the cost seems aligned with industry standards for such analytical tools.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

This contract was not competed, suggesting it was likely awarded sole-source. This could be due to Bloomberg's unique position as a provider of specific index data or a pre-existing relationship. The lack of competition means potential savings from a competitive bidding process were not realized, and the agency relied on Bloomberg's standard pricing.

Taxpayer Impact: Taxpayers may not have received the benefit of competitive pricing, potentially leading to a higher cost than if multiple vendors had bid on the requirement.

Public Impact

The Pension Benefit Guaranty Corporation (PBGC) benefits directly through access to crucial investment data. Services delivered include monthly investment return data for standard, blended, and custom Bloomberg indices. The geographic impact is primarily within the PBGC's operational centers, likely in Washington D.C. and potentially remote access for analysts. Workforce implications include enabling financial analysts and investment managers within PBGC to perform their duties effectively.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of competition limits price discovery and potential cost savings for taxpayers.
Reliance on a single vendor for critical data could pose a risk if service is interrupted.

Positive Signals

Bloomberg is a well-established and reputable provider of financial data and analytics.
The firm-fixed-price contract type provides cost certainty for the duration of the award.
The contract duration is relatively short, allowing for future re-evaluation of competition.

Sector Analysis

This contract falls within the financial services and data analytics sector, specifically focusing on investment data provision. The market for financial data terminals and index reporting is dominated by a few key players like Bloomberg and Refinitiv. The PBGC's spending represents a small portion of the overall federal expenditure on data services, which are essential for informed decision-making across various agencies.

Small Business Impact

This contract does not appear to involve small business set-asides or significant subcontracting opportunities for small businesses, as it was awarded directly to Bloomberg L.P., a large, established financial data provider.

Oversight & Accountability

Oversight will likely be managed by the contracting officer's representative (COR) within the PBGC, ensuring timely delivery of data and adherence to contract terms. Transparency is moderate, as the award details are publicly available, but the specific performance metrics and internal review processes are not detailed.

Related Government Programs

Financial Data Services
Investment Management Support
Pension Fund Administration

Risk Flags

Sole-source award
Potential for higher cost due to lack of competition

Frequently Asked Questions

What is this federal contract paying for?

Pension Benefit Guaranty Corporation awarded $57,180.48 to BLOOMBERG INDEX SERVICES LIMITED. THE CONTRACTOR SHALL PROVIDE MONTHLY INVESTMENT RETURN DATA FOR STANDARD, BLENDED, AND CUSTOM BLOOMBERG L.P. ("BLOOMBERG") INDICES.

Who is the contractor on this award?

The obligated recipient is BLOOMBERG INDEX SERVICES LIMITED.

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 $57,180.48.

What is the period of performance?

Start: 2026-03-07. End: 2027-02-05.

What is Bloomberg L.P.'s track record with government contracts?

Bloomberg L.P. has a history of providing data and analytics services to various government entities, including federal agencies. While specific contract details vary, their engagement typically involves supplying financial market data, news, and analytical tools. Government agencies often rely on Bloomberg terminals and data feeds for economic analysis, investment tracking, and market research. The nature of these contracts often leans towards sole-source or limited competition due to the specialized and proprietary nature of Bloomberg's offerings. Past performance generally indicates reliability in data delivery, though pricing and contract terms are key areas for agency review.

How does the cost of this contract compare to similar data services?

Benchmarking the cost of this $57,180.48 contract requires comparing it to similar data subscriptions or services from other financial data providers like Refinitiv (formerly Thomson Reuters) or S&P Capital IQ. However, Bloomberg's specific index data might be unique. Generally, comprehensive financial data services can range from tens of thousands to hundreds of thousands of dollars annually, depending on the breadth of data, number of users, and analytical tools included. For a single-user or limited-access subscription focused on specific index return data over approximately 11 months, this price point appears within a reasonable range for a premium provider like Bloomberg, assuming the scope is well-defined.

What are the primary risks associated with this contract?

The primary risks associated with this contract include vendor lock-in and potential over-reliance on a single data source. Since the contract was not competed, there's a risk that the PBGC is paying a premium compared to a competitive market. Another risk is the potential for service disruption if Bloomberg experiences technical issues or changes its service offerings. Furthermore, the value derived from the data is dependent on the PBGC's ability to effectively utilize it for decision-making; a gap in analytical expertise could diminish the contract's overall benefit. Data accuracy and timeliness are also inherent risks, though typically low with established providers like Bloomberg.

How effective is Bloomberg's data for pension fund oversight?

Bloomberg's data is widely considered highly effective for pension fund oversight due to its comprehensive nature, real-time updates, and robust analytical tools. The platform provides critical information on market performance, asset allocation, risk metrics, and compliance reporting, all of which are essential for managing pension liabilities and ensuring the solvency of funds like those overseen by the PBGC. The ability to track various indices, analyze investment returns, and model different scenarios allows fiduciaries to make informed decisions regarding investment strategies and risk management. The PBGC's use of this data directly supports its mission to protect defined benefit pension plans.

What is the historical spending pattern for similar data services at PBGC?

Historical spending patterns for similar data services at the Pension Benefit Guaranty Corporation (PBGC) would likely show consistent investment in financial data and analytics tools. Agencies responsible for managing large financial assets or overseeing financial markets typically allocate significant budgets to data providers like Bloomberg, Refinitiv, or others. This spending is often characterized by recurring contracts, sometimes sole-source or limited competition, due to the specialized nature of the data. Analyzing past PBGC contracts for financial data would reveal the trend in contract values, durations, and the specific types of data procured, indicating a sustained need for such services to fulfill its mission.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Administrative Management and General Management Consulting Services

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES

Competition & Pricing

Extent Competed: NOT COMPETED

Solicitation Procedures: ONLY ONE SOURCE

Solicitation ID: 16PBGC26Q0007

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 731 LEXINGTON AVE, NEW YORK, NY, 10022

Business Categories: Category Business, Not Designated a Small Business, Partnership or Limited Liability Partnership, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $57,180

Exercised Options: $57,180

Current Obligation: $57,180

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Timeline