Managing Pensions Successfully with a Business Rules Engine

Since the economic downturn of 2008, employee retirement plans have been under a huge microscope. Nowhere has this been more evident than in the various pension plans for public sector employees. We’ve all read the headlines about abuses within the system, mismanagement of funds and unrealistic expectations about investment returns leading to underfunded pensions. In fact, if you total the underfunded amounts for the states, cities and municipalities, it easily tops $1 trillion. This has resulted in legislatures proposing and adopting hundreds of new regulations, along with the General Accounting Standard Board placing new rules for reporting to provide increased visibility.

All of this change has put more pressure on pension administrators and IT to account for their activities. The frequency and volume of rule changes have made them, like others in government, look at alternative ways to improve their change management process. In addition, they also recognize that their business counterparts must be involved to expedite the process and interpret the regulations into law. This has led many of them to adopt a business rules engine to help make the necessary alterations in the most efficient way possible.

Register for this webinar to hear how the NY State and Local Retirement system has remained successful in the management of the country’s second largest state fund. They will discuss the importance of alignment across the business and IT units, as well as the new technologies they are adopting to maintain that success. Their approach ensures that its pension management systems are kept up to date with the constantly changing rules and policies.

Webinar: Pension Management: Keeping Pace, Improving Accuracy
Date: 11/18 at 2pm

Topics to be addressed include:

• Facilitating collaboration between the IT and business sides of an operation when responding to changes in rules or policies
• Striking the right balance between adjusting a system to meet new requirements and adjusting a policy to align with an existing system
• Making an IT operation more agile so that it can respond more easily to unexpected changes

Speakers:

New York State and Local Retirement System

• David Van Deusen, Director of IT, NYSLRS Applications Development Business Relationship Manager
• Neil Manning, Director of Benefit Calculations & Disbursement Services

Progress

• Kevin Foster, Senior Product Marketing Manager

Register now! We hope to see you there!