Life Annuity
1. The Federal Retirement Thrift Investment Board (FRTIB) is soliciting a Request for Proposal (RFP) for the Thrift Savings Plan (TSP) annuity program. Federal Law sets forth five annuity methods that are required to be made available to eligible TSP participants and beneficiaries. The TSP is a retirement savings plan for Federal and Postal employees, and members of the Uniformed Services, similar to private sector 401k plans with an approximate value of $590 billion. As of July 2019, year-to-date post-separation withdrawls have included 910 annuities, totaling approximately 201.8 million. The TSP serves more than 5.7 million active and retired participants and beneficiaries and will grow significantly over the next five years.
2. The Agency anticipates a performance period comprised of a three-year base period, along with two, one-year option period. The award will be made on a competitive basis utilizing a best value source selection procedure. Offerors will first have to demonstrate that they meet minimum Industry Financial Rating Standards compliance. The Technical Proposal contains the following evaluation factors: (1) Financial Strength and Solvency, (2) Administrative Capability and Experience, and (3) Business Plan. Evaluation of the pricing portion will be based upon the offeror's proposed Annuity Payment Rate and 0.45% added to the monthly annuity index rate.
3. All information required for submission of a proposal is identified in the attached solicitation and attachments. The Agency anticipates award no later than January 1, 2020. All interested parties must be registered with the System for Award Management (SAM). SAM can be accessed at www.sam.gov, or by calling 1-888-606-8220. All prospective offerors interested in submitting a proposal must have a Commercial and Government Entity (CAGE) code.
4. Questions regarding this solicitation are due by September 19, 2019, 1:00 PM (EDT), and should be sent to: FRTIBContracting@tsp.gov (In the subject line please reference TIB-2019-RFP-0005 - Life Annuity/Attn: Ms. Linda Bethke-Cyr). All responses to questions will be posted on Fedbizopps (www.fbo.gov). Proposals are due by October 01, 2019, 1:00 PM (EDT).
5. The FRTIB is an independent Federal agency in the Executive Branch created by the Federal Employees' Retirement System Act of 1986 (FERSA). The mission of the FRTIB is to administer the TSP solely in the interest of participants and beneficiaries. Some of the Federal Acquisition Regulation (FAR) language is applicable to this procurement; however, as a non-appropriated fund Agency, the Agency is not bound by all portions of the FAR.
Linda K. Bethke-Cyr, Contracting Officer, Phone 2028648672, Email LCyr@tsp.gov - Tim Costas, Email Timothy.Costas@tsp.gov
