The Federal Retirement Thrift Investment Board, Washington, hired Accenture Federal Services as its record keeper, the board said Monday.
The contract with the plan's previous record keeper, Science Applications International Corp., expired this year, which prompted the search, said Kim Weaver, the board's director of external affairs, in an email. However, the SAIC contract "has been extended to ensure a smooth transition to Accenture," Ms. Weaver said. Further details about the SAIC contract could not immediately be learned.
Accenture's contract with the board will begin with an 18-month transition period followed by four 3-year option periods.
The board, which administers the $644 billion Thrift Savings Plan — the retirement system for 6.1 million federal employees and members of the uniformed services — initially put out a request for proposal for a record keeper in June 2018.