|Go to DFARS Change Notices, to view the details of the changes to this subpart.|
SUBPART 242.73--CONTRACTOR INSURANCE/PENSION
(Revised August 31, 2000)
242.7300 Scope of subpart.
This subpart provides the requirements for conducting a Contractor Insurance/Pension Review (CIPR).
(ii) Pension plan;
(iii) Other deferred compensation plans; and
(iv) Related policies, procedures, practices, and costs.
(ii) The ACO, with advice from DCMA insurance/pension specialists and DCAA auditors, determines a CIPR is needed based on a risk assessment of the contractor's past experience and current vulnerability.
(2) The contractor proposes or implements changes in its insurance, pension, or deferred compensation plans.
(3) The contractor is involved in a merger, acquisition, or divestiture.
(4) The Government needs to follow up on contractor implementation of prior CIPR recommendations.
(d) When a Government organization believes that a review of the contractor's insurance/pension program should be performed, that organization should provide a recommendation for a review to the ACO. If the ACO concurs, the review should be performed as part of an ACO-initiated special CIPR or as part of a CIPR already scheduled for the near future.
(2) Requesting and scheduling the reviews with the appropriate DCMA activity;
(3) Notifying the contractor of the proposed date and purpose of the review, and obtaining any preliminary data needed by the DCMA insurance/pension specialist or the DCAA auditor;
(4) Reviewing the CIPR report, advising the contractor of the recommendations contained therein, considering contractor comments, and rendering a decision on those recommendations;
(5) Providing other interested contracting officers copies of documents related to the CIPR;
(6) Ensuring adequate follow-up on all CIPR recommendations; and
(7) Performing contract administration responsibilities related to Cost Accounting Standards administration as described in FAR Subparts 30.2 and 30.6.
(2) Issuing a technical report on the contractor's insurance/pension plans for incorporation into the final CIPR report based on an analysis of the contractor's pension program, insurance program, and other related data;
(3) Leading the team that conducts the review. Another individual may serve as the team leader when both the insurance/pension specialist and that individual agree. The team leader is responsible for-
(ii) To the extent possible, resolving discrepancies between audit reports and CIPR draft reports prior to releasing the final CIPR report;
(iii) Preparing and distributing the final CIPR report;
(iv) Providing the final audit report and/or the insurance/pension specialist's report as an attachment to the CIPR report; and
(v) Preparing a draft letter for the administrative contracting officer's use in notifying the contractor of CIPR results; and
(2) Issuing an audit report for incorporation into the final CIPR report based on an analysis of the contractor's books, accounting records, and other related data; and
(3) Performing contract audit responsibilities related to Cost Accounting Standards administration as described in FAR Subparts 30.2 and 30.6.