Tier Technologies wins California retirement system contract

Tier Technologies Inc. has won a $25 million contract with the California Public Employees' Retirement System to provide an integrated contribution reporting system, the company announced Jan. 2.

The integrated contribution reporting system solution is scheduled for completion in June 2004.

Tier Technologies of Walnut Creek, Calif., signed the contract with the California Public Employees Requirement System, also known as CalPERS, on Dec. 19, 2001.

The 33-month contract carries options for five additional one-year contracts worth more than $5 million for system maintenance. If all options are exercised, the total contract award would exceed $30 million, the company said.

CalPERS provides retirement and health benefit services to more than 1.2 million members and more than 2,400 employers. Its membership comprises active and retired members from California's school districts and state and local public agencies.

Tier Technologies is a global consulting firm that provides business and information technology consulting, system design and integration, transaction processing, business process outsourcing and business process reengineering for its clients primarily in the state and local government, healthcare, insurance and utilities markets.

The company has more than 950 employees and had annual sales of $116 million in fiscal 2001, according to Hoover's Online of Austin, Texas.