Thrift Board admits share of blame

The Federal Retirement Thrift Investment Board has agreed with a congressional oversight committee that found the board and contractor American Management Systems Inc. responsible for a failed attempt to implement an electronic recordkeeping system for the Federal Thrift Savings Plan.

"Be assured that the board and agency accept your committee's findings, as well as the recommendations presented", Board Chairman Andrew Saul wrote to the committee.

After four years and $65 million, the system didn't work, and AMS was fired. Matcom International Corp. of Alexandria, VA, was hired and built the system in 18 months for $33 million.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.