Meeting 21st century challenges

HP Public Retirement Benefits Administration Solutions help you meet the needs of growing numbers of retiring baby boomers. And they let you respond to legislative changes and new business rules brought about by financial reforms.

HP Public Retirement Benefits Administration Solutions help you bring retirement benefits administration systems up-to-date so you can meet 21st century challenges. We bring technical expertise, retirement system knowledge and best practices gained through delivering solutions to more than 80 government clients.

We design a solution to meet your needs. We develop the solution or enhance your existing system. We apply our own software, or we partner with others to bring you the solution that best fits your size, complexity and budget. If you prefer to avoid the expense of developing and maintaining your own system, we offer retirements benefit administration software-as-a-service (SaaS) that enhances retiree self-service and drives down your cost.

New challenges for retirement benefits administration

Public employee retirement administrators are caught in the crossfire. Supporting IT systems are aging—many are 20 to 30 years old. They lack the flexibility to respond to changes needed in 2011 and beyond. And many are no longer supported by the vendor that originally provided them.

At the same time, demands are up. Retiring baby boomers swell the rolls. These retirees are computer-savvy and used to dealing with private sector financial services. They expect to answer their own questions and initiate changes through the web or from their smartphones. And they expect rapid response from you.

To add further strain to an already stressed system, legislators and administrators are responding to investment losses caused by the economic downturn with new business rules. Implementing them and demonstrating compliance taxes both IT and administration resources just when they are needed to step up to the new challenges.

Multiple approaches to meeting retirement benefits challenges
HP Public Retirement Benefit Administration Solutions combine the expertise of technology professionals and retirement system subject matter experts to bring you the solution you need. We offer the following solution approaches:

  • Custom—We design and develop a system specifically for your needs.
  • Modify and enhance existing systems—If your system is still viable but needs updating to meet new requirements, we extend its life and add the features you need by enhancing and extending it.
  • Off-the-shelf software—Using HP or partner software, we implement a new system to bring you the latest functionality and features. New systems offer multiple contact channels like web, e-mail and interactive voice response (IVR). And they bring new standard functions like document management and workflows.
  • Software as a Service (SaaS)—Why spend for your own system at all? Our web-based SaaS solution gives your administrators the functionality they need.

Effective retirements benefits administration = People + technology + best practices
We have more than 20 years experience developing and implementing public employee retirement systems for more than 80 government clients. Our solutions combine technology, people and best practices to understand your needs and bring you the best solution. We implement the solution and support you as you use it. We keep it secure, reliable and robust while you focus on your core business of supporting your members.

 

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