Federal Retirement Thrift Investment Board Announces Selection of Firm to Provide Forms Processing Services.WASHINGTON -- The Federal Retirement Thrift Investment Board The Federal Retirement Thrift Investment Board was established as an independent agency of the United States government by the Federal Employees Retirement System Act of 1986. It is one of the smaller Executive Branch agencies, with just over 100 employees. announced today that it has selected SI International of Reston, Virginia Reston is an internationally known planned community whose goal was to revolutionize post-World War II concepts of land use and residential/corporate development in American suburbia. , to provide forms processing support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to the Thrift Savings Plan The Federal Thrift Savings Plan, or TSP, is a retirement savings plan for civilians who are, or previously were, employed by the United States Government and for members of the uniformed services. The TSP encompasses many millions of investors and has substantial assets. (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 Noun 1. retirement savings plan - a plan for setting aside money to be spent after retirement pension account, pension plan, retirement account, retirement plan, retirement program, retirement savings account 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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