The Federal Retirement Thrift Investment Board (FRTIB), which runs the approximately $1bn defined contribution (DC) Thrift Savings Plan (TSP), is suing American Management Systems (AMS) for $350m, claiming breach of contract and fraud on AMS' part.
At the centre of the legal dispute is what the FRTIB calls the consistent failure of AMS to develop and implement a new record-keeping system for the TSP. AMS was awarded the contract to develop an...
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