PBGC awards $12M upgrade contract to SRA

The Pension Benefit Guaranty Corp. (PBGC) awarded SRA International, a provider of technology and strategic consulting services and solutions to federal agencies, a contract calling for the company to develop a new online, real-time, transaction-based system for processing premium payments for the more than 30,000 private-sector pension plans it insures.

PBGC is a federal entity responsible for protecting the pensions of more than 44 million American workers and retirees.

The contract, awarded Sept. 29, has an estimated value of $12.3 million over six years if all options are exercised, SRA said in an announcement today.

As part of an overall modernization effort, PBGC is automating its existing systems to eliminate or minimize the manual processes it uses to capture, maintain and correct data.

Under this contract, SRA will design, develop and implement a Premium and Practitioner System to support premium filing processes. The system will include Oracle e-Business Suite Financial and Customer Relationship Management modules customized to PBGC’s specific business requirements for premium filing and systems integration, SRA said.

SRA team members include Capgemini and TeraThink.

The integrator’s services will also include program management; systems design, development and integration; testing; integration of commercial products; and training.

“The SRA team has a long history of developing and supporting key e-government systems for PBGC, including the My Plan Administration Account premium filing system,” said Tim Atkin, vice president and director of the civil sector at SRA. “We will use this experience and knowledge of PBGC’s processes and systems to develop a secure, online premium payment system that will achieve business and technical efficiencies.”