PBGC Awards $100M IT Contract

The Pension Benefit Guaranty Corporation (PBGC) awarded a $100 million IT services contract to Reston, Va.-based TeraThink on Oct. 29. Under the potential five-year indefinite-delivery/indefinite-quantity contract, TeraThink will provide IT services to support PBGC’s financial management system. The initial RFI said the contract will cover “development, modernization, and enhancement activities, as well as steady-state operations and maintenance” of the system. PBGC used a single-award contract. All of the work will take place in Washington, D.C., according to PBGC’s announcement.