What the Pension Benefit Guaranty Corporation buys
The Pension Benefit Guaranty Corporation obligated $291.6 million on contracts in fiscal year 2025. Its largest category was Portfolio Management ($72.0 million).
What it buys
| Industry (NAICS) | FY2025 obligations | Share |
|---|---|---|
| Portfolio Management (523920) | $72.0 million | 24.7% |
| Engineering Services (541330) | $49.7 million | 17.1% |
| Other Computer Related Services (541519) | $42.3 million | 14.5% |
| Administrative Management and General Management Consulting Services (541611) | $36.0 million | 12.3% |
| Investment Banking and Securities Dealing (523110) | $18.0 million | 6.2% |
| Human Resources Consulting Services (541612) | $14.9 million | 5.1% |
| Computer Systems Design Services (541512) | $12.2 million | 4.2% |
| Payroll Services (541214) | $10.3 million | 3.5% |
| Software Publishers (511210) | $6.9 million | 2.4% |
| Other Accounting Services (541219) | $6.2 million | 2.1% |
| Portfolio Management and Investment Advice (523940) | $5.5 million | 1.9% |
| Trust, Fiduciary, and Custody Activities (523991) | $5.2 million | 1.8% |
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210) | $2.5 million | 0.8% |
| Wired Telecommunications Carriers (517110) | $2.2 million | 0.7% |
| Web Search Portals and All Other Information Services (519290) | $2.0 million | 0.7% |
| Custom Computer Programming Services (541511) | $1.9 million | 0.6% |
| Internet Publishing and Broadcasting and Web Search Portals (519130) | $1.6 million | 0.6% |
| Investment Advice (523930) | $1.4 million | 0.5% |
| Mixed Mode Transit Systems (485111) | $1.1 million | 0.4% |
| Offices of Lawyers (541110) | $815,802 | 0.3% |
| Facilities Support Services (561210) | $661,472 | 0.2% |
| Periodical Publishers (511120) | $249,839 | 0.1% |
| Parking Lots and Garages (812930) | $240,029 | 0.1% |
| Credit Bureaus (561450) | $235,044 | 0.1% |
| Pension Funds (525110) | $218,000 | 0.1% |
Who wins
| Contractor | FY2025 obligations | Share |
|---|---|---|
| Serco INC | $44.8 million | 15.3% |
| Deloitte & Touche LLP | $22.6 million | 7.7% |
| Salient Crgt, Inc. | $15.2 million | 5.2% |
| State Street Corporation | $14.2 million | 4.9% |
| Science Applications International Corporation | $11.9 million | 4.1% |
| Wellington Management Company LLP | $10.5 million | 3.6% |
| Pacific Investment Management Company LLC | $10.3 million | 3.5% |
| Nisa Investment Advisors LLC | $10.1 million | 3.5% |
| Arrowstreet Capital LP | $9.8 million | 3.4% |
| Pgim, Inc. | $8.6 million | 2.9% |
| Cgi Federal Inc. | $7.8 million | 2.7% |
| Deloitte Consulting LLP | $7.0 million | 2.4% |
| Milliman Incorporated | $7.0 million | 2.4% |
| Marathon Asset Management Limited | $6.6 million | 2.3% |
| Bolton Partners D.c., Inc. | $6.3 million | 2.2% |
| Unison Software INC | $5.3 million | 1.8% |
| Allspring Global Investments, LLC | $4.8 million | 1.6% |
| Goldman Sachs Asset Management, L.p | $4.7 million | 1.6% |
| Milliman, Inc. | $4.1 million | 1.4% |
| Tcw Asset Management Company LLC | $3.9 million | 1.3% |
| BAE Systems Technology Solutions & Services Inc. | $3.5 million | 1.2% |
| Bolton Partners, Inc. | $3.5 million | 1.2% |
| Neuberger Berman Investment Advisers LLC | $2.9 million | 1.0% |
| Grant Thornton LLP | $2.8 million | 1.0% |
| Talatek, LLC | $2.8 million | 1.0% |
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Source and coverage
Source: USAspending.gov, the U.S. Treasury's public record of federal spending, retrieved 2026-11-01. Figures are contract obligations (award types A, B, C and D) for federal fiscal year 2025, October 2024 to September 2025. Amounts cover the whole agency. This is federal money only. State, city and town contracts are not included. Obligations can be negative when earlier amounts are withdrawn, some classified work is not reported, and contractors that may be individuals are left out of the name lists, so a list is not a complete ranking of everyone paid. Pushbuild is not affiliated with any agency or company listed.