R -- PAYING AGENT AND OTHER RELATED BENEFIT PAYMENT SERVICES FOR DEFINED BENEFIT PENSION PLANS

The Pension Benefit Guaranty Corporation (PBGC) seeks to extend the period of performance and to increase the contract ceiling amount of an existing contract with State Street Bank for the continuation of paying agent services, withholding services and other related benefit payment services for defined benefit pension plans administered by PBGC. Services include but are not limited to: disbursement of periodic and non-periodic pension payments by check and Automated Clearing House (ACH), Federal income tax withholding and reporting, customer services, accounting and reconciliation, benefit payment administration advice and consulting and automated data processing support. It is in the best interest of the PBGC for the current provider to continue to provide these services to ensure continuity of work and accuracy in execution. This is not a request for proposal. See Note #22.