OPM asks for bids on new retirement system

The Office of Personnel Management last week released a request for proposals for a new retirement system for federal employees.

The agency runs two systems'the Civil Service Retirement System and the Federal Employees Retirement System'and wants to consolidate the applications into one system. The programs cover more than five million current and former feds and holds more than $450 billion in assets.

In the RFP, which can be viewed here, OPM is asking vendors to submit proposals by Oct. 12. The interested vendors list includes BearingPoint Inc. of McLean, Va., Fidelity Investments Tax-Exempt Services Co. of Boston, Hewitt Associates LLC of Lincolnshire, Ill., IBM Corp., PeopleSoft Inc. of Pleasanton, Calif., and SI International Inc. of Reston, Va.

'We seek an existing, proven, industry-leading defined-benefit technology solution that will enable us to provide accurate and timely services to participants,' OPM said in the RFP.

OPM released a draft RFP in July (See GCN story.

In the RFP, OPM said its vision is to have a single integrated data repository accessible by federal employees across all retirement program core processes. Some of the functions the system should include are:

  • Claims processing


  • Annuity payroll processing and record keeping


  • Member record keeping


  • Annuitant communications


  • Due process for members and annuitants


  • Identifying overpayments.



Featured

  • Records management: Look beyond the NARA mandates

    Pandemic tests electronic records management

    Between the rush enable more virtual collaboration, stalled digitization of archived records and managing records that reside in datasets, records management executives are sorting through new challenges.

  • boy learning at home (Travelpixs/Shutterstock.com)

    Tucson’s community wireless bridges the digital divide

    The city built cell sites at government-owned facilities such as fire departments and libraries that were already connected to Tucson’s existing fiber backbone.

Stay Connected