“California pension plans are facing complicated challenges right now. We want to play a part in finding—and implementing—solutions for those challenges. Our approach and our technology are specially qualified to do that.”
- Rod Sheppard, Senior Partner
St. Paul, MN (PRWEB) March 30, 2012
Minnesota-based Sagitec Solutions, LLC announced today that it will implement pension administration systems for two different retirement plans in California. The first system is for the San Diego City Employees’ Retirement System (SDCERS), a public plan with over $4 billion in assets. The second system is for the Studio City-based Motion Picture Industry Pension and Health Plans (MPIPHP), a private Taft-Hartley fund that supports unions and employers in the motion picture production industry. These projects will be Sagitec’s first in the state of California as lead vendor and its first with a Taft-Hartley multi-employer plan.
“We have an opportunity to do important work here,” says Sagitec Senior Partner Rod Sheppard, a resident of the Golden State. “California pension plans are facing complicated challenges right now. We want to play a part in finding—and implementing—solutions to those challenges. Our approach and our technology are specially qualified to do that.”
Sagitec will deliver a custom-tailored pension and benefits administration system for each of its California partners. But both systems will be rooted in the company’s proprietary Neospin™ framework technology. Neospin™, explains Mr. Sheppard, is a pension administration software framework based on Microsoft’s .NET platform. It enables Sagitec to build tailor-made applications from reusable and interchangeable components, an approach that gives clients freedom in shaping their system’s design without asking them to assume the risk of a full custom built solution. According to Mr. Sheppard, this flexibility and scalability make Neospin™ a good fit for pension plans in California whether large or small, public or private.
“The reason our solution is appealing is because it gives our partners more options with less risk,” contends Mr. Sheppard. “The future is wildly unpredictable. Changes in legislation, technology, budgets—our customers need ways to respond to these challenges without dumping their previous investments in IT. Neospin™ gives them an extensible platform with vast possibilities, and Sagitec has a proven record of delivering the solution.”
Sagitec has already begun work on both projects. They will be implemented concurrently over the next several years.
About the San Diego City Employees’ Retirement System
SDCERS is a trust fund administered by the Board of Administration for three plan sponsors: the City of San Diego, the San Diego Unified Port District and the San Diego County Regional Airport Authority. For more information please visit the SDCERS website at http://www.sdcers.org.
About the Motion Picture Industry Pension and Health Plans
The Motion Picture Industry Pension and Health Plans are non-profit, multi-employer trust funds, established in the early 1950s by collective bargaining agreements between many of the employers in the Motion Picture Industry and various unions and guilds representing "behind the camera" employees in a variety of occupations. They currently have 240 employees at their primary location in Studio City, California and their office in New York City, NY. There are over 1,000 Employer members and more than 40 unions and guilds representing over 40,000 workers. Find them online at http://www.mpiphp.org/.
About Sagitec Solutions
Sagitec Solutions, LLC designs and delivers custom-tailored pension administration systems. With broad experience rooted in the public pension market, Sagitec empowers retirement systems to realize their strategic service visions and drives those visions into action. Sagitec is headquartered in the Twin Cities, MN. They have additional domestic offices in Denver, Co and Topeka, KS, and international offices in Pune and Chennai, India. Sagitec has been implementing IT solutions successfully across the United States since 2004. Further information can be found at http://www.sagitec.com or by contacting Rick Deshler at (651) 335-3406 or at service (at) sagitec (dot) com.