Octo Consulting Group was recently awarded a five-year blanket purchase agreement (BPA) worth at least $11 million with additional contract options by the U.S. Department of the Treasury’s Office of D.C. Pensions (ODCP) to support the underpinning IT systems that enable the agency to deliver all of the pension payments to the District’s retired civil servants.
“Octo is honored to have been selected to ensure that District of Columbia’s retired civil servants receive their pension payments,” said Mehul Sanghani, Octo’s Chief Executive Officer. “Our unique agile system development and maintenance approach combined with our understanding of the ODCP mission will allow the agency to meet its fiduciary obligations, and deliver critical enhancements to its platform in an extremely cost effective way.”
Octo will support a broad set of mission critical HR & Pension Applications that manage, administer and deliver over $630 million in annual benefits payments to approximately 14,000 retired employees of the District of Columbia. The multi-year agreement will also include maintenance and daily support to ODCP including several planned upgrades and next generation enhancements to the HR & Pension platform.
ODCP is responsible for making timely and accurate benefit payments associated with the District of Columbia retirement programs for all of its retired police officers, firefighters, teachers and judges.