CalSTRS Selects CGI for $120+ Million Pension Administration System Contract

SACRAMENTO, California, February 19, 2015 /PRNewswire/ --

Transformational, enterprise-wide project will modernize IT systems and business processes for largest educator-only pension fund in the world 

CGI (NYSE: GIB) (TSX: GIB.A) today announced the award of a multi-year, US$121 million contract from the California State Teachers' Retirement System (CalSTRS) to configure and implement a new information technology system for the administration of CalSTRS benefits.

"CGI is pleased to have earned the business of a client so committed to serving their members," said CGI Vice President Cheryl Hotaling and Sacramento business lead. "The new, flexible system deploys technology to improve business processes while allowing CalSTRS to continually adapt and grow in support of their members. With more than 25 years of experience successfully delivering projects with the State, CGI looks forward to this new opportunity to build upon our long partnership with the State of California."

CalSTRS is the largest educator-only pension fund in the world with more than 879,000 members and approximately $185.5 billion in assets as of January 31, 2015.  The new Pension Administration System will replace CalSTRS' legacy systems with a single, comprehensive solution capable of delivering new levels of service and support to members and customers while reducing associated costs.  Once implemented, the new system will allow business users to define sophisticated workflows, create business rules and produce reports without relying on technical staff.   Members will also have new self-service features to increase their ability to independently manage their assets.

The Team CGI solution is built on Sagitec's Neospin, a commercial-off-the-shelf (COTS) system that supports more teachers' pension funds than any product in the U.S. The combination of Neospin's flexible and scalable solution coupled with CGI's proven project methodology and expert team will deliver efficiencies as well as benefits to CalSTRS for years to come.

"Enhancing member customer service while improving the CalSTRS work environment is a double-win for us," said CalSTRS BusinessRenew Executive Chris Caietti. "With new capabilities from CGI, integrated systems and business processes will empower our stakeholders to solve problems faster and reduce the costs of pension administration."