Teacher Retirement System of Texas Selects HP to Transform and Modernize Technology Services
05 Februar 2014 - 1:45PM
Marketwired
Teacher Retirement System of Texas Selects HP to Transform and
Modernize Technology Services
Nation's Sixth-Largest Teacher Retirement Fund to Use HP to
Modernize Technology and Enhance Service for 1.3 Million
Educators
PALO ALTO, CA--(Marketwired - Feb 5, 2014) - HP (NYSE: HPQ)
today announced the Teacher Retirement System of Texas (TRS) has
signed a $43 million, four-year contract for HP to implement a new
pension administration system that automates processes and includes
a variety of new capabilities to improve members' experiences.
The agreement includes a state option for four additional years,
which is not included in the contract value.
The HP system will enable more than 1.3 million active and
retired Texas educators to apply for benefits and receive approvals
online as well as manage their accounts in a secure, web-based
environment. The new system also will provide service
representatives a complete view of a member's account, contact and
employment history, enabling faster and more complete answers when
members call for assistance.
After implementation, TRS will have a more robust and
technologically advanced system that lowers costs and makes
operations more efficient while also helping the organization
attract skilled employees.
"We manage an approximately $120 billion fund with a growing
member base that requires secure, but easy access to benefits,"
said Amy Morgan, chief information officer, Teacher Retirement
System of Texas. "HP is providing deep industry expertise from
working with similar government agencies combined with a proven,
modern solution that will help us manage costs, reduce risk and
continue providing outstanding service to our members."
Under the agreement terms, HP will provide TRS HP Applications
Services to implement its Public Retirement Benefits Administration
Solution to process employer reporting for nearly 1 million active
members and pension checks for more than 300,000 retirees. The HP
solution is designed specifically for public sector retirement and
uses Java and a service-oriented architecture to give TRS the
flexibility and scalability to quickly respond to business and
legislative changes.
HP has successfully implemented similar retirement systems in 13
U.S. state and local retirement agencies as well as Canada, the
United Kingdom and New Zealand.
HP will manage the implementation from Austin, Texas, with
development support provided from other HP sites in the United
States.
"At a certain point, the costs and risks of maintaining older
systems are greater than the replacement cost -- and today's
technology allows secure access to benefits anywhere and anytime
that members want," said Mike Poth, vice president, State, Local
and Education Division, HP Enterprise Services. "The HP team will
bring more than three decades of public sector retirement system
experience to implement a proven, flexible and scalable solution
that will improve accessibility and service statewide while
preparing the way for enhanced security, cloud and other
technologies."
HP's premier Americas client event, HP Discover, takes place
June 10-12 in Las Vegas.
About TRS TRS delivers retirement and related benefits
authorized by the Texas Legislature, and manages an approximately
$120 billion trust fund established to finance member benefits.
More than 1.3 million public education and higher education
employees and retirees participate in the system.
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society. With the broadest technology portfolio spanning
printing, personal systems, software, services and IT
infrastructure, HP delivers solutions for customers' most complex
challenges in every region of the world. More information
about HP is available at http://www.hp.com.
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