Accenture Federal Services Wins Federal Retirement Thrift Investment Board Contract to Improve Retirement Outcomes for Civil ...
November 19 2020 - 12:59PM
Business Wire
Accenture Federal Services (AFS), a subsidiary of Accenture
(NYSE: ACN), has been awarded the Recordkeeping Services
Acquisition (RKSA) contract by the Federal Retirement Thrift
Investment Board (FRTIB). The contract aims to reimagine retirement
services for the digital age and improve the customer experience
for the Thrift Savings Plan (TSP).
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Elaine Beeman, senior managing director
and Accenture Federal Services civilian lead (Photo: Business
Wire)
The TSP savings and retirement plan is similar to 401K plans
offered by many private employers. It serves 6.1 million federal
employees and members of the uniformed services managing over $644
billion in assets. The RKSA contract has an 18-month transition and
four, three-year option periods.
“It’s an honor to support the FRTIB to reimagine retirement
services and improve the customer experience of the TSP,” said
Elaine Beeman, senior managing director and Accenture Federal
Services civilian lead. “The new functions will give participants
more self-service options to meet the expectations of an
increasingly digital, savvy TSP customer and ultimately meet the
needs at the heart of our client’s mission, to help all federal
employees effectively prepare for their retirement.”
Under the terms of the contract, AFS will provide FRTIB a
modern, flexible, and secure platform that enables continuous
innovation and provides next-generation capabilities including
electronic signature. AFS will automate and streamline TSP manual
processes to improve the customer experience.
TSP customers will have access to services via the channel of
their choice, including phone, live chat, virtual assistant, secure
messaging, email, interactive voice response, website, mobile,
mail, and fax. In addition, participants can start transactions in
one channel and finish in another.
“No other single retirement plan serves a participant population
that includes people who deliver our mail, protect our nation and
orbit our planet,” said Vanessa Godshalk, federal financial
services sector lead for Accenture Federal Services. “We welcome
the opportunity to use Accenture’s proven commercial solutions to
help reimagine retirement and secure tomorrow’s financial outcomes
for people working today.”
Alight Solutions will support the recordkeeping function of the
RKSA contract. Alight, a cloud-based provider of integrated digital
human capital and business solutions, has a decades-long history of
administering large, complex defined contribution plans and helping
millions of U.S. workers save for a more secure retirement.
AFS will also be working with cloud platform provider Amazon Web
Services. The Salesforce* platform will be used for case management
and communication services. ServiceNow will be used for service
management digital workflow solutions.
“We have the wonderful opportunity to work with FRTIB and help
the participants and beneficiaries of the TSP improve their
retirement outcomes,” said Owen Davies, Accenture Federal Services
FRTIB lead and global public retirement/pension lead for Accenture.
“Together we will work to reinvent retirement for the digital age
and the post-digital age to advance their financial wellness.”
About Accenture Federal Services
Accenture Federal Services, a wholly owned subsidiary of
Accenture LLP, is a U.S. company with offices in Arlington,
Virginia. Accenture’s federal business has served every
cabinet-level department and 30 of the largest federal
organizations. Accenture Federal Services transforms bold ideas
into breakthrough outcomes for clients at defense, intelligence,
public safety, civilian and military health organizations. Learn
more at www.accenturefederal.com.
About Accenture
Accenture is a global professional services company with leading
capabilities in digital, cloud and security. Combining unmatched
experience and specialized skills across more than 40 industries,
we offer Strategy and Consulting, Interactive, Technology and
Operations services—all powered by the world’s largest network of
Advanced Technology and Intelligent Operations centers. Our 506,000
people deliver on the promise of technology and human ingenuity
every day, serving clients in more than 120 countries. We embrace
the power of change to create value and shared success for our
clients, people, shareholders, partners, and communities. Visit us
at www.accenture.com.
* Salesforce and others are among the trademarks of
salesforce.com, inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20201119006085/en/
Jane Norris Accenture Federal Services +1 571 414 4475
maryjane.o.norris@accenturefederal.com
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