Serco Awarded $238 Million Contract to Support Millions of American Workers with Pension Plans Administered by PBGC

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."