Retirement Plan Tracking Software

The Vendor is required to provide cloud-hosted retirement plan tracking software solution to support the administration of the county retirement plan.
- The retirement plan currently serves the following membership population:
• Active employees: 1,720
• Deferred vested members: 212
• Retirees and beneficiaries: 798
- The plan includes three benefit tiers:
• Employees hired from January 1, 1969 through June 16, 2003
• Employees hired from June 17, 2003 through December 31, 2009
• Employees hired January 1, 2010 and later
- Retirement plan tracking software by January 1, 2027.
- Advance of final plan documentation to allow sufficient time for solution design, configuration, testing, data migration, and implementation.
- Workday financials as our current HRIS/payroll system, which supplies employee data to weld’s current retirement system
- Transition effort by reviewing and validating benefit calculations, providing actuarial factors and assumptions as needed, and assisting with resolution of calculation-related questions.
- Employees who are term-vested but have since returned in a part-time capacity must not have additional service years credited toward their retirement benefit.
- Primary retirement database
• Compensation history
• Contribution history
• Beneficiary and spouse details
• Tier assignments
• Hire and termination dates
• Military and disability leave
• Lump-sum payouts
• Old benefit estimates
• Retiree date of death.