WMC Justification for Other Than Full and Open Competition Fully Executed

JUSTIFICATION FOR OTHER THAN FULL AND OPEN COMPETITION

FOR OPEN MARKET ACQUISITIONS USING FAR 12.201-2 PROCEDURES

Identification Number (purchase request/solicitation number): TBD 1. Identification of the agency and contracting activity. A. Agency: Pension Benefit Guaranty Corporation (PBGC)

B. Contracting activity: Procurement Department (PD)

C. Program Office: Corporate Investments Department (CID) 2. Nature and/or description of the action being approved. This justification supports the award of a sole-source contract to prevent a lapse in critical fixed-income investment services while PBGC concludes a competitive source selection (ref. Solicitation No. 16PBGC25R0062). As discussed in further detail under Section 5, this justification is not the result of a lack of advance planning by the agency. The Government projects awarding this contract in August 2026 using Fiscal Year 2026 funds. 3. A description of the supplies or services required to meet the agency’s needs, including the estimated value.
The contractor shall be responsible for providing active investment management and related services for fixed income portfolios. The investment objective is to construct portfolios of fixed income assets that earn superior returns which exceed the respective portfolio benchmarks of these strategies, consistent with the risk parameters outlined in the investment guidelines for the respective portfolios. The portfolios shall be invested in one or more of the four Trust Fund fixed income strategies: Core Fixed Income, Long Duration Fixed Income, Global Fixed Income, and Emerging Markets Debt. The anticipated period of performance is six (6) months with an optional three (3)-month extension. The estimated contract cost if all options are exercised is approximately .

JUSTIFICATION FOR OTHER THAN FULL AND OPEN COMPETITION

FOR OPEN MARKET ACQUISITIONS USING FAR 12.201-2 PROCEDURES

4. An identification of the statutory authority permitting other than full and open competition.
The statutory authority permitting this action is 41 U.S.C. 3304(a)(1), as implemented by RFO FAR 6.103-1 (only one responsible source and no other services will satisfy agency requirements).
5. A demonstration that the proposed contractor’s unique qualifications or the nature of the acquisition requires use of the authority cited.
WELLINGTON MANAGEMENT COMPANY LLP is the only contractor capable of performing these services because the Government would almost certainly be unable to competitively