Fixed Income Investment Services Management and Advice

The proposal due time has been changed from 9:00 a.m. ET to 12:00 p.m. ET. The due date remains unchanged. AMENDMENT 2: PBGC has reopened and amended this solicitation to ensure sufficient competition for Phase 2. PBGC encourages all offerors (including those that already submitted a proposal in December) to review this amendment carefully to ensure understanding and compliance. PBGC has changed three (3) documents under this amendment: Attachment 1 –

Instructions to Offerors, which contains updated cover letter

requirements and eliminates information that is no longer applicable; Attachment 2 –

Evaluation Criteria, which narrows the scope of evaluation under Factor 1 – Proposal Compliance; and Attachment 6 – Solicitation Phase 1 Forms, which contains examples of Information Ratio (IR) calculations to ensure offerors complete this portion of their proposals fully and accurately. All changes to these documents under this amendment appear as track changes or in red font. All changes under the prior amendment (Amendment

1) are accepted, so they will no longer appear as track changes or in red font. PBGC has not altered any documents under Amendment 2 outside of

Attachments 1, 2, and 6. Firms that wish to submit a proposal for the first time under this solicitation must submit all required documents by the deadline. Firms that already submitted a proposal in December should take the following steps: Review the solicitation changes discussed above. Review the details of your proposal to ensure that your firm has fully complied with both previously existing and new solicitation