CalSTRS Awards Multi-Year Pension Administration IT Contract
Enhanced information technology benefits administration platform to be implemented by CGI Technologies and Solutions, Inc.
WEST SACRAMENTO, Calif. – Through an extensive competitive bidding process, the California State Teachers’ Retirement System (CalSTRS) has awarded CGI Technologies and Solutions Inc. a $121 million contract to configure and implement a new information technology system for the administration of CalSTRS benefits.
“This contract award represents a tremendous multi-year commitment and partnership between CalSTRS and CGI in offering CalSTRS members greater access to their customized member information, tools and services they need to make decisions regarding their retirement future,” said Teachers’ Retirement Board Chair Harry Keiley, a high school teacher from Santa Monica.
CGI will be the system integrator for the project and has partnered with Sagitec to provide the software solution and robust technology platform to administer CalSTRS benefits for hundreds of thousands of active and retired California educators, as well as their beneficiaries. The new pension administration system, to be implemented over a multi-year, phased approach, will deliver integrated and modern technology with the flexibility to meet CalSTRS’ evolving business needs well into the future.
“CalSTRS appreciates the commitment, combined experience and technological successes that CGI and Sagitec bring to this project. The new system will update CalSTRS technology and allow for increased flexibility as business and technology needs emerge, allowing us to better serve our members, their beneficiaries and employers,” said CalSTRS Chief Executive Officer Jack Ehnes.
“The new pension system will include strong member and employer secure online self-service capabilities, as well as the optimal technological tools and advancements, ultimately designed with our business needs and priorities in mind. We are also focusing our efforts on ensuring a quality user experience as we integrate the new system over the next several years,” noted Chief Technology Officer Ashish Jain.
The system will be phased-in over a multi-year implementation period, and is expected to be fully in place by 2020. CalSTRS members, benefit recipients and employers will see no changes at this time.
The California State Teachers’ Retirement System, with a portfolio valued at $185.5 billion as of January 31, 2015, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. CalSTRS serves California’s 879,000 public school educators and their families from the state’s 1,700 school districts, county offices of education and community college districts.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 68,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$18 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.