FROM: Colin Bishop, Chief of Member Services
SUBJECT: Engagement of Levi, Ray & Shoup, Inc. for work on the PensionGold Refresh Project
RECOMMENDATION:
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Approve and authorize the Chief Executive Officer to execute an agreement with Levi, Ray & Shoup, Inc., for work on the PensionGold Refresh Project, in an amount not to exceed $2,280,000; approve the use of contingency funds in the amount of $2,280,000.
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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 is vital to the functionality and long-term sustainability of PensionGold, which is the backbone of our benefits-related work at SBCERA. This project will also help streamline our current business practices with the ultimate goal of providing better services to our members and employers. This is a major undertaking which involves a closely coordinated effort from Member Services, Information Services, Fiscal Services, and Legal Services.
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, until our partnership with Linea, we had not conducted a comprehensive review of our pension administration system and business processes. Over the last seven 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 outlines a vision for our "Future State." Based on this vision, we are creating the roadmap for Phase 2 of the project, where we will implement the ...
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