Lockbox service for Missing Participants Program

NOTE: Please submit responses to the attached Request for Information (RFI) questions to the Contracting Officer not later than 2 PM Eastern on April 30, 2025. The Pension Benefit Guaranty Corporation (PBGC) protects the retirement income of 44.4 million American workers in 31,200 Defined Benefit Pension plans. A Defined Benefit (DB) plan provides a specified monthly benefit at retirement, often based on a combination of salary and years of service.

PBGC was created by the Employee Retirement Income Security Act (ERISA) of 1974 to encourage the continuation and maintenance of ongoing defined benefit pension plans, provide timely and uninterrupted payment of pension benefits for terminated plans, and keep pension insurance premiums at a minimum. PBGC is not funded by general tax revenues but collects insurance premiums from employees that sponsor insured pension plans, earns money from investments, and receives funds from pension plans it takes over.

In January 2018, the Expanded Missing Participants Programs became effective and opened the Program to a much larger pool of plans that include Defined Contribution Plans, Small Professional Services DB Plans (not insured by PBGC) and PBGC insured DB plans closing out in a standard termination. The contractor shall scan and upload all copies of checks, payment vouchers and other supplemental documents received to U.S. Bank’s secured service (Singlepoint/Image Viewer) daily.

The contractor shall also make readily available all ACH and wire payments received via secured account access. The contractor will use commercially reasonable efforts to respond to requests within three business days of the request for such requests that reasonably can be responded to within such time frame or as otherwise agreed by PBGC and contractor. Please find the attached Statement of Work for reference.

NOTE: Please submit responses to the attached Request for Information (RFI) questions to the Contracting Officer not later than 2 PM Eastern on April 30, 2025.