Georgia Pension System in Hands of KPMG
- By William Welsh
- Nov 28, 2001
KPMG Consulting Inc. won a three-year, $22.5 million contract with the Teachers Retirement System of Georgia to provide an integrated pension administration services system, the company announced Nov. 27.
The new system, which will replace infrastructure and legacy systems, is based on the company's intelligent technology framework for pension organizations, said KPMG Consulting of McLean, Va.
Under the contract, KPMG Consulting will provide strategic planning, change management, customer relationship management, organizational design, technology infrastructure build-out, process re-engineering, work-flow automation and systems integration.
The integrated pension administration system will improve customer service during a time of increasing workloads and link the system to its members and other organizations through the Internet, the company said.
The new system is designed to lower costs associated with manual and paper-based systems by providing electronic processing for new enrollments, salary deductions, payroll reporting and payments. The system also will consolidate data into one database.
The Teachers Retirement System of Georgia administers the fund, which pays retirement benefits to public school educators and employees of the state university systems of Georgia. It is one of the largest public retirement systems in the nation, with assets of more than $38 billion serving more than 250,000 people.
KPMG Consulting also has integrated retirement systems projects in Florida and Minnesota. In Florida, the company recently completed a statewide public employees retirement system and is handling operations and data center support on an outsourcing basis. In Minnesota, the company is working on integrated systems for both the Teachers Retirement Association and the Public Employees Retirement Association.
KPMG Consulting provides strategic consulting, systems design and architecture, applications implementation, network and systems integration and related services. The company has 10,000 employees and $2.9 billion in annual revenue.
William Welsh is a freelance writer covering IT and defense technology.