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The Alaska Division of Retirement and Benefits (DRB) Awards Pension System Modernization Project to Sagitec

Alaskan government employees to receive improved system security, customer service, and operating efficiency, for pension and health benefits.

A primary goal of the DRB is to modernize IT and workflow processes to drive efficiency, accuracy, and security for its core business and services. This project requires an integrated, enterprise-wide system that supports all of DRB’s core business functions for pension and health plans, including demographic information as a single source of truth. Sagitec was awarded this project after going through a stringent procurement process under Alaska’s Procurement Policies and Guidelines, meeting all the division’s requirements. The state of Alaska is looking to move its infrastructure to the Microsoft Azure Cloud. Sagitec will help the state achieve this vision by hosting software development on Azure with optional hosting for production.

“The new enterprise system will be a fully integrated, enterprise-wide multi-module software application to improve, standardize, and automate a wide range of division operations,” said Ajay Desai, Division Director, Alaska DRB. “Implementing a project to modernize DRB will require a massive, multi-year effort that will integrate processes across functional departments and external vendors while substantially reducing, if not eliminating, manual, paper-based work-processes and silo systems.”

The project is a turnkey Neospin™ implementation and includes substantial functionality for managing healthcare. Neospin™ is Sagitec’s flagship benefits administration solution that has helped public and private pension funds enhance service capabilities, lower operating costs, and stave off technical obsolescence while responding to complex and frequently changing business requirements.

With this implementation, DRB will experience flexible and consistent benefits administration, improved customer service, member self-service tools, management, and operational control.

“Delivery of this project will be different given the pandemic crisis, but Sagitec will follow our proven model of virtual delivery,” said Jeff Bryce, Director, Sagitec. “Once the COVID-19 crisis subsides, only a minimal Sagitec team presence will be required at the client site.”

In addition to implementing the Neospin™ benefits framework, Sagitec will also implement IBM’s FileNet content management solution and the Intacct™ accounting solution. Sagitec has partnered with an Alaskan Intacct™ implementer, Sockeye Consulting, to integrate the general ledger system with Sagitec’s Neospin™.

The 42-month implementation cycle for replacing DRB’s legacy pension system has commenced and includes a 12-month post-production warranty phase and six years of post-warranty support.

About Sagitec Solutions

Sagitec Solutions, LLC, is a global software provider focused on solving complex, business-rule driven problems with domain experts and proven technology. They serve some of the largest public pension organizations in the world. Their fully integrated, web-based pension administration solution supports millions of plan participants, many thousand employers, and administers multiple types of pension plans: defined benefit, defined contribution, provident, cash balance, hybrid, and Taft-Hartley.

In addition to serving the pension industry, Sagitec Solutions also designs and delivers software solutions for unemployment insurance, paid family medical leave, disability insurance, and healthcare. With deep industry experience in software implementation and systems integration, project management, knowledge management, predictive analytics, chatbots, cloud services, consulting, hosting, and software support, Sagitec is a partner clients can trust to drive their vision into action. For more information, visit: www.sagitec.com

Topics: Sagitec Company News