Accenture's Federal Arm to Help Modernize Gov't Retirement Savings Platform

Accenture’s (NYSE: ACN) federal services business has received a contract from the Federal Retirement Thrift Investment Board to help update information technology infrastructure for the government’s retirement services program, Federal News Network reported Monday.

AFS will serve as a prime contractor for FRTIB’s recordkeeping services acquisition contract which covers IT modernization support, cybersecurity services and call-center assistance for the FRTIB-administered Thrift Savings Plan.

The RKSA contract, which has an 18-month transition period plus four three-year extension options, is meant to support TSP’s transition from its aging recordkeeping systems to web-based platforms.

AFS will work to implement mutual-fund tools, electronic signature technologies and mobile app services for TSP participants as part of the contract, according to Federal News Network.

Tee Ramos, director of participant services at FRTIB, previously told the board that his office expects to roll out the updated services by mid-2022.

RKSA will serve as a replacement contract to consolidate existing TSP awards. New York-based asset management firm BlackRock currently serves as the fund manager for TSP, the report states.

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