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Pension Benefit Guaranty Corporation Awarded a Contract to SERCO INC for $239,257,824.00

Signed on

6/14/2024, 12:00 AM

SERCO INC Government Contract #16PBGC24F0050

SERCO INC was awarded a contract with the United States Government for $239,257,824.00. The contract was awarded by the agency office PENSION BENEFIT GUARANTY CORP, which is a division with the Pension Benefit Guaranty Corporation within the Pension Benefit Guaranty Corporation.

Summary of Award

SERCO INC, a U.S.-owned business based in Herndon, Virginia, received a federal contract worth $95,794,171.44 from the Pension Benefit Guaranty Corporation. The contract aims to enhance customer service scores by streamlining processes, with notable transactions including payments of $46,650,358.44 and $1,139,372 towards the project.

Contract Details

Contract ID16PBGC24F0050
Contract TypeC
Total Obligation$95,794,171.44
Exercised Options$97,486,412.44
Base Amount + Options$239,257,824.00
Date Signed2024-06-14
Contract DescriptionTHIS TO IS TO IMPROVE CUSTOMER SERVICE SCORES REPORTED BY A 3RD-PARTY VENDOR WHO COMPLETES A QUARTERLY PARTICIPANT CALLER SURVEY. PSD SEEKS TO IMPROVE CX BY REDUCING THE NUMBER OF CONTACTS & PAPER FORMS CUSTOMERS COMPLETE TO FULFILL REQUESTS.
Start Date2024-07-04
End Date2026-07-03

Agency Details

Awarding AgencyPension Benefit Guaranty Corporation
Awarding Sub AgencyPension Benefit Guaranty Corporation
Awarding OfficePENSION BENEFIT GUARANTY CORP
Funding AgencyPension Benefit Guaranty Corporation
Funding Sub AgencyPension Benefit Guaranty Corporation
Funding OfficePENSION BENEFIT GUARANTY CORP

Recipient Details

RecipientSERCO INC
Recipient Location12930 WORLDGATE DR STE 600 HERNDON VIRGINIA, UNITED STATES
Business CategoriesCategory Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Comments

Award Transactions

Transaction #P00006 | $0.00April 13, 2026

Pension Benefit Guaranty Corporation, a sub agency of Pension Benefit Guaranty Corporation, issued a payment of $0.00 to SERCO INC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00005 | $0.00April 12, 2026

Pension Benefit Guaranty Corporation, a sub agency of Pension Benefit Guaranty Corporation, issued a payment of $0.00 to SERCO INC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00004 | $0.00April 2, 2026

Pension Benefit Guaranty Corporation, a sub agency of Pension Benefit Guaranty Corporation, issued a payment of $0.00 to SERCO INC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00003 | $1,139,372.00September 17, 2025

Pension Benefit Guaranty Corporation, a sub agency of Pension Benefit Guaranty Corporation, issued a payment of $1,139,372.00 to SERCO INC. The payment included a Subsidy Cost of $0.00.

Transaction #P00002 | $46,650,358.44June 25, 2025

Pension Benefit Guaranty Corporation, a sub agency of Pension Benefit Guaranty Corporation, issued a payment of $46,650,358.44 to SERCO INC. The payment included a Subsidy Cost of $0.00.

Transaction #P00001 | $450.00July 3, 2024

Pension Benefit Guaranty Corporation, a sub agency of Pension Benefit Guaranty Corporation, issued a payment of $450.00 to SERCO INC. The payment included a Subsidy Cost of $0.00.

Transaction #0 | $48,003,991.00June 14, 2024

Pension Benefit Guaranty Corporation, a sub agency of Pension Benefit Guaranty Corporation, issued a payment of $48,003,991.00 to SERCO INC. The payment included a Subsidy Cost of $0.00.