CSC to boost PBGC tech infrastructure

Computer Sciences Corp. will provide information technology infrastructure support to the Pension Benefit Guaranty Corp. under a five-year contract that could be worth as much as $70 million.

CSC of El Segundo, Calif., will work with PBGC and its business stakeholders to restructure current IT operational support services.

Under the terms of the agreement, CSC will help the organization consolidate four contracts, transition from its technology-based offerings to service-based offerings, implement technology and process innovations and apply a performance-based management approach to delivering services.

The goal is to make the most of PBGC's current investments, reduce total cost of ownership and improve service to end users, CSC said.

PBGC is a federal corporation created by Congress in the Employee Retirement Income Security Act of 1974 to encourage private-sector benefit pension plans, provide timely and uninterrupted payment of pension benefits and keep pension insurance premiums at a minimum.

PBGC is headed by a director, Charles Millard, who reports to a board of directors consisting of the secretaries of the Labor, Commerce and Treasury departments. The board is chaired by the secretary of Labor.

This year the Washington-based entity will insure and protect the pensions of nearly 44 million workers and retirees nationwide in 33,330 pension plans.

CSC ranks No. 11 on Washington Technology's 2007 Top 100 list of the largest federal government prime contractors.