RFP For New Pension Administration System

The PSPB has released a Request for Proposals (RFP) to invite interested vendors to submit proposals for a New Pension Administration System. The PSPB is seeking a vendor to provide a customized pensions administration system that can fundamentally provide the systems, functionality and support to deliver all transactional aspects of day-to-day Defined Contribution and Defined Benefit administration work.  The PSPB requires a solution that supports the above plan types and a significant participant volume in addition to new plan types, such as additional voluntary contributions and/or investment choices.

In a new system, the PSPB requires a solution that is inclusive of integrated Electronic Document/Records Management (EDM), Workflow tracking and approval and Web Portal functionality.  Secure member and employer access is also required, as is the ability to adapt the system to any legislative changes (i.e. the ability to accept voluntary contributions for pensions).

If you want to participate in this process, please go to: https://cayman.bonfirehub.com/opportunities/13112.  The deadline to submit responses to the RFP is Thursday, March 7, 2019.