Thrift Investment Board picks SAIC to run IT services

Monday - 8/12/2013, 5:33am EDT

The Federal Retirement Thrift Investment Board (FRTIB) picked a new company to manage its technology services.

The FRTIB awarded Science Applications International Corporation (SAIC) a five- year, $224.5 million contract.

SAIC beat out several competitors including incumbent Serco.

SAIC will provide a host of services, including business process (recordkeeping), information security and enterprisewide information technology support services.

The board has been working on this program since last summer. The FRTIB also decided to invest more heavily in its network infrastructure, approving a $170.5 million budget for 2013, which is more than $27 million above 2012 levels. The budget includes $4 million for new initiatives, including new cybersecurity measures, such as enterprise risk-management tools to fully comply with legislation requiring agencies to safeguard their networks.

Cybersecurity became even a bigger issue for the board in 2012 when then contractor, SERCO, reported a cyber breach affecting 123,000 users of the Thrift Savings Plan. SERCO and the FRTIB came under pressure from Congress when it came to light that it took nine months to report the network attack and data loss.

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