Ark. chooses pension management tool
- By Kathleen Hickey
- Nov 06, 2008
The Arkansas Local Police and Fire Retirement System (LOPFI) will implement the Arrivos pension administration tool to manage and maintain its retirement program for 15,000 participants and more than 450 employers.
The three-part modular solution is built on the Microsoft.NET platform. The first phase of the multi-phased project will be fully implemented by December 2008, with the second phase being completed in December 2009.
The system will simplify the reporting process for the group's multiple employers via an employer reporting portal. The pension administration software includes integrated participant maintenance, reconciliation, benefit calculators, administrative tools, employer maintenance and reporting features. The third piece is a member self-service portal to allow members secure access to their information.
The software 'will help our program run more efficiently and effectively,' said David B. Clark, executive director LOPFI. 'We were looking for user-friendly software that will allow us to manage our own data and make real-time transactions. With this new system, we will be able to spend less time on administration and more time on providing service for our members.'
LOPFI was established in 1981 as a statewide retirement program for Arkansas police officers and firefighters.
The Arrivos system was developed by Tegrit Technologies, a division of Tegrit Financial Group, based in Southfield, Mich.
Kathleen Hickey is a freelance writer for GCN.