Pension Benefit Guaranty Corporation, Procurement Department, 1200 K Street, NW, Suite 1090, Washington, DC 20005-4026

R -- REQUEST FOR INFORMATION FOR PAYING AGENT SERVICES!! POC Contact Janice D. Johnson (202) 326-4160/ Contracting Officer, Robert W. Herting (202) 326-4160 This is a Request for Information (RFI) only; proposals will not be accepted. The Employee Retirement Income Security Act of 1974 established the Pension Benefit Guaranty Corporation as a federal corporation. PBGC protects the pensions of about 42 million working men and women in more than 44,000 private defined benefit pension plans and currently administers about 2,700 terminated plans. PBGC pays about $70 million in pension benefits to approximately 210,000 retirees each month, including about 1,200 lump sum payments monthly. PBGC is currently preparing a Request for Proposals (RFP) for paying agent services. The Statement of Work in the RFP will describe services, tasks, products the paying agent must provide and any business/technical requirements the paying agent must meet. The services, tasks and requirements include performing financial services related to the dispersement of benefit payments, by check or preferably electronic direct deposit (EDD); Federal tax withholding and reporting and issuance of required TEFRA notices; payment clearing and reconciliation of checks; stop payment and check replacement; storage of paid checks; recovery of funds on behalf of PBGC; and monthly and/or yearly accounting and reconciliation of all funds dispersed . The paying agent may also provide support for data entry or transfers, data storage and retrieval of data related to payee information, customer service and related benefits administration. PBGC is seeking information, ideas and recommendations from the banking/financial industry to potentially include in its Statement of Work. Information, ideas and recommendation about potential qualified sources of services, legal requirements, industry standards, procedures and practices relating to benefit payment administration, paying agent services and tax withholding agent and related financial services; related automated data processing (ADP) requirements; corporate qualifications; relevant fee structures; and any other information that you deem useful are welcomed. You are invited to submit the requested information or any questions in writing to the PBGC by mail to Janice D. Johnson, Procurement Department, 1200K Street NW, Washington, DC 20005-4026; fax (202) 326-4162. Include in any response: company name, address, telephone number and point of contact. Information is requested by December 17, 1999. For assistance with this RFI, call Janice D. Johnson at (202)326-4160 extension 6859. Posted 12/03/99 (W-SN405725). (0337)

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