Modernizing Pension Administration: Why State and Local Governments Need a Purpose-Built Solution

For decades, state and local government pension programs have been the backbone of retirement security for millions of public servants. Yet, behind the scenes, many pension administrators are grappling with outdated systems, manual processes, and a patchwork of legacy technologies.

The result? Inefficiencies, rising costs, and a growing risk of errors that can impact both plan sponsors and members. But what if the stagnant status quo didn’t have to be your reality? 

Outdated Systems Hold You Back 

Many state and local government pension programs still rely on systems designed decades ago – often before the internet, smartphones, or cloud computing were even imagined.

These legacy platforms tend to be: 

• Cumbersome and rigid: Making even minor changes requires significant IT involvement and lengthy timelines. 

• Siloed: Data is trapped in disconnected systems, making holistic reporting and member service a challenge. 

• Manual: Staff spend countless hours on repetitive tasks, increasing the risk of errors and burnout. 

• Difficult to scale: As member needs evolve and regulations change, these systems struggle to keep up. 

The result is a daily grind that leaves little room for efficiency, value-add member support, strategic decision-making, and proactive risk management. 

The Vision: Effective, Integrated, and Future-Ready 

Imagine a world where pension administration is not a burden, but a strategic advantage. Where your team is empowered by technology – not limited by it. Where you can: 

• Automate routine tasks and focus on high-value member service. 

• Integrate data seamlessly across payroll, HR, and finance systems. 

• Leverage AI and analytics to proactively manage risk, forecast liabilities, and personalize member communications. 

• Adapt quickly to regulatory changes or new plan designs – without months of custom coding. 

• Deliver a modern, intuitive experience for both staff and members, accessible anytime, anywhere. 

This isn’t a distant dream. It’s the future for forward-thinking public pension administrators. 

Purpose-Built Matters 

Generic solutions or retrofitted commercial platforms simply can’t meet the unique needs of public pension programs. You either get way more than you need – with a price tag to match – or not enough, requiring extensive and expensive customization. A purpose-built public sector solution: 

• Understands your world: Designed specifically for the complexities of public sector retirement plans. 

• Accelerates implementation: Pre-configured workflows and compliance features speed up deployment. 

• Reduces risk: Built-in controls and audit trails enable transparency and accuracy. 

• Drives innovation: Modular, cloud-based architecture allows you to add new capabilities as your needs evolve. 

Step Into the Future with BenefitsIQ for Pensions 

We believe state and local governments deserve better. Our BenefitsIQ^TM platform is purpose-built for public pension administration – effective, integrated, lightweight, and AI-powered. We help you automate the mundane, eliminate silos, and deliver the kind of member experience your community expects. 

It’s time to move beyond the status quo. Become the visionary leader who modernizes pension administration for the next generation. 

Ready to see what’s possible? Contact us to schedule a personalized demo of BenefitsIQ for Pensions and start your journey toward a smarter, more efficient future.