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Sagitec Press Releases

Five Months Ahead of Schedule, Sagitec Delivers Pension Solution to the Denver Employees Retirement Plan

Flood of city employee early retirements almost delayed the project, but a strong commitment to success and a dedicated team carried the project forward

St. Paul, MN (June 14, 2012) - Sagitec Solutions, LLC, the Minnesota-based IT firm specializing in tailor-made pension administration systems, successfully delivered an integrated line-of-business solution for the Denver Employees Retirement Plan (DERP) of Denver, CO five months ahead of schedule. Despite a flood of early retirements that forced DERP staff to take a three-month hiatus from the project, dedicated teams from both parties collaborated on an innovative solution to the potentially serious setback and drove the project to successful completion. The new system, called CRIS, is live and currently supporting all of DERP’s core business functions.

“Sagitec demonstrated a true commitment to the success of the CRIS project. We felt confident trusting them to continue with system development during our hiatus,” said Steve Hutt, DERP’s Executive Director. “This enabled us to focus our efforts on the surge of early retirements and continue to deliver outstanding service to our members without sacrificing our timeline for completion of the project. Together, we achieved our goal of a new pension administration solution and actually did so ahead of schedule.”

DERP’s sudden surge in workload came after the City of Denver unexpectedly offered eligible city employees an incentive for early retirement. To avoid a project delay, Sagitec proposed to accelerate the project schedule instead. Sagitec would continue with system development while DERP focused on the new retirements. The two organizations agreed on a revised schedule and an amended contract. As a result, CRIS was delivered successfully within budget and five months ahead of schedule. 

“The successful implementation of CRIS is a perfect example of what can be accomplished when business partners share mutual trust, honesty, and commitment,” noted Rod Sheppard, Senior Partner for Sagitec. “Sagitec strives to achieve the same level of confidence with all of our business partners, because we know what an important part it plays in driving a successful outcome.”

CRIS is a browser-based pension administration system based on Sagitec’s Neospin™ pension administration software framework solution.  In addition to serving DERP’s core business functions, it provides business users and DERP members with enhanced customer service capabilities, including self-service web portals. The system is hosted by Sagitec from the company’s data center, also located in Denver, CO.

About Denver Employees Retirement Plan

Established in 1963, the Denver Employees Retirement Plan is a defined benefit plan. Its purpose is to provide retirement benefits to qualified members of the City and County of Denver and Denver Health and Hospital Authority. DERP’s mission is to provide promised retirement benefits and exceptional service to their members, through prudent investment and administration. DERP’s vision is to be fully funded, to exceed evolving customer service expectations, and to be recognized as best in class among public retirement systems. More information can be found at http://www.derp.org.

 About Sagitec Solutions, LLC

Sagitec Solutions, LLC is an innovative IT firm that designs and delivers tailor-made pension administration systems for public and private retirement funds. With broad industry experience, Sagitec empowers retirement systems to realize their strategic service visions and drives those visions into action. Sagitec is headquartered in the Twin Cities, MN. They have additional domestic offices in Denver, Co and Topeka, KS, and international offices in Pune and Chennai, India. Sagitec has been implementing IT solutions successfully across the United States since 2004. Further information can be found at http://www.sagitec.com or by contacting Rick Deshler at (651) 335-3406 or at rick.deshler@sagitec.com.

Topics: Pension Administration System Implementation, New Clients, Colorado, City Retirement System, County Retirement System