Serco Awarded $238 Million Contract to Support Millions of American Workers with Pension Plans Administered by PBGC
July 15 2024 - 10:16AM
Serco, a provider of professional, technology, engineering, and
management services, announced today that the Company has been
awarded a recompete contract to continue providing customer support
services to the US Pension Benefit Guaranty Corporation (PBGC). The
contract has a one-year base period and four option years with a
value of $238 million if all options years are exercised.
Under this contract, Serco will provide day-to-day benefits
administration and customer support for over one million
individuals whose defined benefits plans have been disrupted,
ensuring they receive the financial security they deserve.
“This award allows Serco to continue building on our 20-plus
years of providing services in the financial well-being of millions
of Americans,” said Tom Watson, CEO of Serco in North America.
"Serco is not only a service provider, but a lifeline for many
individuals who need human assistance with questions or need help
with complex issues when processing a claim. Our commitment to
excellence and our unwavering focus on customer needs set us apart
as an impact partner in the industry."
About Serco: Serco Inc. is a leading provider of
professional, technology, engineering, and management services. We
advise, design, integrate, and deliver solutions that transform how
clients achieve their missions. Our customer-first approach, robust
portfolio of services, and global experience enable us to respond
with solutions that achieve outcomes with value. Headquartered in
Herndon, Virginia, Serco Inc. has approximately 9,000 employees and
annual revenue of $1.7 billion. Serco Inc. is a wholly owned
subsidiary of Serco Group plc, a $5 billion international business
that helps transform government and public services around the
world. More information about Serco Inc. can be found at
www.serco.com/na.
Alan Hill
Serco Inc
703-263-6500
alan.hill@serco-na.com