Seal of the United States Federal Retirement Thrift Investment Board. Wikimedia Commons ()
Science Applications International Corp. (SAIC) has won an information technology contract worth up to $227 million over six years from the Federal Retirement Thrift Investment Board.
Under the agreement, SAIC will provide record keeping, information security and IT support services for the board, which manages the Thrift Savings Plan. The contract has been held by Serco since December 2008. Following a four-month phase-in period starting in October, SAIC will begin doing the work in February, the board said in a news release Friday. Both SAIC and Serco are based in northern Virginia.
The new contract covers two base years, followed by three options for two years, one year and one year, respectively, according to the board. Along with $2.5 million in phase-in costs, the contract’s value is $224.5 million if all options are exercised, the release said, adding that the award followed a full and open competition. In an email, board spokesman David Toro declined to say Monday how many bids were received in response to a request for proposals issued in January.