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Contract 16PBGC23C0008

State Street Corporation · Pension Benefit Guaranty Corporation · July 2, 2025

Firm Fixed PriceFull & Open CompetitionNAICS 541214

State Street Corporation was awarded a federal contract by Pension Benefit Guaranty Corporation on July 2, 2025 for $10.47 million of work in payroll services. Performance is in Boston, MA. It was awarded under full and open competition. The contract has been modified 3 times since the base award It uses firm fixed-price contract pricing. The most recent modification was on March 23, 2026. If all options are exercised, the contract could reach $106.94 million.

Obligated to date
$10.47M
$10,465,980
Current value
$40.94M
Potential value
$106.94M
if all options exercised
Modifications
3
Latest March 23, 2026

Contract details

PIID
16PBGC23C0008
Award type
Definitive Contract
Pricing
Firm Fixed Price
Set-aside
No Set Aside Used.
Competition
Full And Open Competition
NAICS
541214 · Payroll Services
Product / service
Support- Professional: Other
Place of performance
Boston, MA
First action
July 2, 2025
Latest action
March 23, 2026

Description

THE PURPOSE OF THIS MODIFICATION IS TO EXERCISE AND FULLY FUND OPTION PERIOD 3 FROM APRIL 1, 2026 THROUGH MARCH 31, 2027.

Modification timeline

  • March 23, 2026
    Mod P00010 · Exercise An Option
    $40.94M
  • March 19, 2026
    Mod P00009 · Supplemental Agreement For Work Within Scope
    THE PURPOSE OF THIS MODIFICATION IS TO INCREASE THE CEILING FOR OPTION PERIOD 2 AND TO ADD $27,960 IN FUNDING TO SUPPORT THE TAX EQUITY AND FISCAL RESPONSIBILITY ACT (TEFRA) NOTICES AND THE 2025 1099 …
    $30.50M
  • July 28, 2025
    Mod P00008 · Other Administrative Action
    THE PURPOSE OF THIS MODIFICATION IS TO CORRECT FUNDING INCONSISTENCIES RELATED UNIT OF MEASURE ISSUES IN AMS.
    $30.47M
  • July 2, 2025
    Mod P00007 · Other Administrative Action
    THE PURPOSE OF THIS MODIFICATION IS TO ADD FUNDS FOR OPTION PERIOD 2 OF THE CONTRACT FOR MAILING THE INTERNAL REVENUE SERVICE (IRS) MANDATED TAX EQUITY AND FISCAL RESPONSIBILITY ACT (TEFRA) NOTICES.
    $30.47M

Similar contracts

RecipientAgencyDateObligated
State Street CorporationPension Benefit Guaranty CorporationSeptember 12, 2024$51.64M

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Frequently asked questions

What is contract 16PBGC23C0008?

Contract 16PBGC23C0008 is a federal contract awarded to State Street Corporation by Pension Benefit Guaranty Corporation on July 2, 2025 for $10.47 million of work classified under PAYROLL SERVICES. It has been modified 3 times since the base award.

Who won contract 16PBGC23C0008?

State Street Corporation won contract 16PBGC23C0008 from Pension Benefit Guaranty Corporation.

How much is contract 16PBGC23C0008 worth?

Contract 16PBGC23C0008 has obligated $10.47 million to date, with a total potential value of $106.94 million if all options are exercised.