New pension system to be based on integrated Service-Oriented Architecture
RESTON, Va.; Oct. 2, 2006 – Accenture has been awarded a five-year, $199 million contract to modernize the technology platform for the California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the United States with more than $210 billion in assets. CalPERS provides retirement and health benefits to more than 1.4 million public employees, retirees and their families, and more than 2,500 employers.
Under the contract, Accenture will help CalPERS transform its technology systems to meet the evolving needs of its employees and participants. By moving to a web-based delivery approach built on an integrated, flexible, service-oriented architecture (SOA), the new enterprise system will be designed to provide accurate data via the Internet where and when it is needed.
Accenture’s technological transformation of CalPERS will help participants to get information and services more quickly and accurately, and allow employees to focus on analytical work that supports the organization’s core business.
“When this project is completed, CalPERS employees will be armed with modern tools and have unprecedented access to information about their business, helping them to better respond to the retirement needs of California’s public servants,” said Jens Egerland, senior executive responsible for Accenture’s California government practice. “The new system will feature integrated service-oriented architecture technologies designed to improve data accuracy and availability and administrative processes.”
Subcontractors to Accenture on the CalPERS project include Covansys, Sagitec and AmerIT Consulting.
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With approximately 140,000 people in 48 countries, the company generated net revenues of US$16.65 billion for the fiscal year ended Aug. 31, 2006. Its home page is www.accenture.com.