SI to provide services for Thrift Investment Board

The Federal Retirement Thrift Investment Board has awarded SI International a $16 million contract to provide business outsourcing services for the board's Thrift Savings Plan (TSP). That plan allows federal employees to save money under a system similar to the 401(k) plans offered by private employers.

SI will provide information technology and network services to increase the efficiency of board's 401(k) application and form processing. SI also will perform data imaging and data entry. The agreement includes a two-year base period with two additional two-year options.

Under the agreement, SI will receive forms from account holders in the mail, scan them and complete data entry by processing the forms as transactions to savings plans through the use of previously developed software, said Bill Smithson, SI's vice president of financial systems.

The board has contracted with SI for multiple projects, including a new TSP system with integrated voice response and Web capabilities to enable federal and uniformed service employees to oversee their accounts online or by phone. The system includes payroll interfaces to agencies, the Federal Reserve, Barclays and the Financial Systems Integration Office's approved accounting packages, used by the Treasury Department.

The company also contracted to provide call center and support services to the TSP in 2005 and accounting, legal processing, death benefits, payroll contribution and loan repayment services in 2006.

Jana Cranmer is a staff writer for Government Computer News, an 1105 Government Information Group publication.

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
close

Trending

  • 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

  • PROJECT 38 PODCAST

    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.