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IMTEC-92-49R 1 (1992-05-06)

handle is hein.gao/gaobackan0001 and id is 1 raw text is: United States GGeneral Accounting Office Washington, D.C. 20548 Information Management and Technology Division B-248347 May 6, 1992 Mr. James B. Lockhart, III 146530 Executive Director Pension Benefit Guaranty Corporation Washington, D.C. Dear Mr. Lockhart: We have been reviewing the Pension Benefit Guaranty Corporation's (PBGC) premium accounting system for the House Subcommittee on Oversight, Committee on Ways and Means, and plan to issue a report shortly. As part of our work, we have performed a limited review of the request for proposals (RFP-92-11) for the premium accounting system redesign. The RFP seeks a customized (i.e., not off-the-shelf) system through the use of a fixed-price contract. As you know, the RFP required initial proposals to be received by April 9, 1992. Contract award is currently scheduled for May 26, 1992, and the expected system implementation date is January 3, 1993. We found that several important RFP functional and system requirements are ambiguous and subject to a broad range of interpretation. Requirements of this type can substantially increase the risk that expected system performance, schedule, and cost objectives will not be met. Moreover, indeterminate requirements can thwart the cost containment objective of a fixed-price contract, if change orders are necessary to correct the contractor's interpretation of the requirements. To decrease the risk to the government, we believe that PBGC needs to resolve the following concerns, which have already been discussed with your staff -- Although the RFP provides the high-level rules for premium calculations and the forms to be used, the actual computations for the varying types of cases are not described. Instead, PBGC has made documents available in a reading room (copies of the Employee Retirement Income Security Act of 1974, premium packages, etc.) that must be researched to determine GAO/IMTEC-92-49R PBGC's Premium Accounting System RFP

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