Deloitte's Pension Administration Solution
Simplifying a complex business
As the workforce ages, we face multiple challenges meeting the demand for retirement services in the public sector. By 2030, over 70 million baby boomers will have reached retirement age, many of whom are members of public employee pension plans. Deloitte’s Pension Administration Solution (DPAS) offers public sector retirement agencies a completely integrated, fully operational solution.
- DPAS benefits
- Customer relationship management
- Intelligent decision making
- Advanced technology
DPAS helps public sector retirement systems
- Reduce the time and expenses associated with defined benefit plan administration
- Deliver improved customer service through efficient business processing and extensive interactive self-service capabilities
- Scale faster to meet the rapidly growing number of public sector retirees
- Access data and documents faster, more efficiently, and more securely
- Improve data integrity
- Automate business processes and quality control functions
DPAS is designed and built to provide you maximum flexibility to rapidly adapt to changing business rules that result from legislative and policy changes. DPAS provides the ability to configure and modify business rules through an enterprise class, commercially available business rules engine, InRule. With a centralized rule repository, InRule provides a single source of truth and allows non-technical users to easily administer rule changes using a rich English vocabulary instead of complex programming.
Customer relationship management
DPAS provides powerful Customer relationship management (CRM) capabilities with the ability to search and access anything from anywhere within the solution. Complete and detailed information is organized and presented logically as a 360 degree view of your customer. This 360 degree view also provides a comprehensive journal of all interaction with the customer as well as quick links to every piece of correspondence sent or received.
Intelligent decision making
To support retirement system executive decision making, DPAS includes a sophisticated data warehouse, management dashboards, and reporting solution built upon IBM Cognos Business Intelligence. Point in time data snapshots are aggregated and stored in the DPAS data warehouse which provides a powerful ability for both historical trend analysis as well as predictive forecasting. Information is neatly summarized and presented on management dashboards with the flexibility to drill down and filter data as desired.
Underneath DPAS is an advanced, object-oriented technology platform running on the latest versions of Microsoft .NET, SQL Server or Oracle relational database, IBM Cognos BI, and IBM FileNet workflow and content management. The solution is entirely service oriented and provides the ability to expose DPAS business services to any consumer. The DPAS service oriented architecture also runs virtually and provides you with the ability to scale up and out as needed.
DPAS provides a complete and secure self-service site that enables you to transition processing to your customers allowing them to better serve themselves. Some of the online services included are:
- Retiree services, allowing retirees to update contact information, direct deposit details, estimate and change tax withholdings, review payment stubs and history, view tax documents, and request income verification statements.
- Member services, allowing members to view account details, estimate benefits, initiate refunds, purchase service, apply for benefits, register for counselling sessions, update contact information, and view annual statements.
- Employer services, supporting employers as they enroll members, report contributions, correct reporting, pay invoices, update direct deposit details, update contact information, register for counselling sessions, and change member statuses.
- Business partner services, allowing information to be shared with other organizations, such as other public sector agencies, medical examiners, the actuary, health insurance providers, and investment managers.