TeraThink captures $100M PBGC award

TeraThink has won a $100 million, single-award contract to support the financial management systems at the Pension Benefit Guaranty Corporation.

The company has captured the Financial Management Systems IT support Services contract, which is a new work for the company. The win builds on TeraThink’s enterprise applications and digital transformation capabilities.

PBGC is a federal agency that protects the retirement incomes of more than 40 million American workers in more than 24,000 private-sector defined benefit pension plans. The agency has had 26 consecutive years of unmodified audit opinions, according to TeraThink.

On the FMS-ITSS contract, TeraThink will update and simplify PBGC's financial management systems to align with the business, information technology and mission requirements.

Task areas in include project management, development, modernization and engineering, operations and maintenance, enterprise architecture, continuity of operations, data management, audit readiness and consulting services.

“This award from the Pension Benefit Guaranty Corporation demonstrates the continuing success of TeraThink's strategy to lead transformation initiatives,” TeraThink CEO Dan Maguire said.