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FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
ANNOUNCES SELECTION OF FIRM TO PROVIDE FORMS PROCESSING SERVICES
Washington, D.C. (March 29, 2007) – The Federal Retirement Thrift Investment Board announced today that it has selected SI International of Reston, Virginia, to provide forms processing support services to the Thrift Savings Plan (TSP) for Federal employees. The selection was made through a competitive procurement.
SI International, which also designed the current TSP daily-valued system, provides other services to the TSP, including operation of one of the TSP’s two call centers. Under this contract, it will support the imaging, data entry, and forms processing for loans, withdrawals, and other transactions.
The term of the contract is a base period of two years, with two two-year options renewable at the Board’s discretion. The contract price for the base plus 4 option years totals $15.9 million.
The TSP is a retirement savings plan for Federal employees and members of the uniformed services. It is similar to the 401(k) plans offered by many private employers. It was created by the Federal Employees' Retirement System Act of 1986. As of February 2007, TSP assets totaled approximately $210 billion, and retirement savings accounts were being maintained for more than 3.7 million TSP participants.
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