ACS has won a three-year, $4.7 million renewal of a 401(k) service contract with the Public Employee Retirement System of Idaho (PERSI). The deal has a base period of three years and an extension option for two more years. The original contract was signed in 2001.
PERSI is a multi-billion dollar retirement plan offering long-term pension benefits for Idaho public employees. PERSI currently has more than 100,000 members including active members, retirees, and inactive members.
Under the terms of the deal, ACS will continue to offer participant recordkeeping, communications, and compliance services for members of PERSI for their supplemental 401(k) plan. In addition, the company will offer consulting services to promote PERSI’s contribution plan. The contract also calls for ACS to manage the website meant for members of PERSI’s plan.