FROM: Colin Bishop, Chief of Member Services
SUBJECT: Informational: PensionGold Refresh Project Update
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PensionGold Refresh Project Update.
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BACKGROUND:
At its February 6, 2020 meeting, the SBCERA Board of Retirement approved the engagement of Linea Solutions (Linea) for Pension Administration Software Consulting and Business Process Redesign for SBCERA's PensionGold Refresh Project. The project represents a comprehensive analysis of how our existing business processes integrate with our pension administration software system. This project will be vital to the functionality and long-term sustainability of PensionGold, and it will help streamline our current business practices with the ultimate goal of providing better, more efficient services to our members and employers.
SBCERA's current pension software solution is PensionGold Version 3, built and supported by Levi, Ray & Shoup Inc. (LRS). Beginning in 2010, SBCERA worked with LRS for several years to prepare for the implementation of the current software solution. However, in the years since, we had not conducted a comprehensive review of our pension administration system and business processes until our current partnership with Linea. Over the last six months, SBCERA staff has worked with Linea on Phase 1 of the two phase PensionGold Refresh Project. We are now nearing completion of Phase 1, which is effectively a vision for our "Future State." Based on this vision, we are creating the roadmap for Phase 2 of the project-which is the implementation of all the changes we will need to make. We expect Phase 2 to last 18 months, and in addition to changes to our business processes, we will also be making significant changes to PensionGold.
In the nearly 10 years since we began work on the implementation of PensionGold Version 3, we have spent approximately $7.3 million directly with LRS on implementation, testing, upgrades, support and maintenance. Additionally, we are...
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