IE 11 Not Supported

For optimal browsing, we recommend Chrome, Firefox or Safari browsers.

New Mexico Prepares to Overhaul Pension Administration System

The state will scrap its mainframe and move to a Web-based system.

SANTA FE, N.M. -- The Public Employees Retirement Association of New Mexico (PERA) said work is under way on a new pension-administration system that will improve internal efficiency, data management and give members Internet access to their own records for the first time.

Officials also said the system will encompass the 27 public pension plans under the administration of the PERA.

"With our current retirement system, the PERA staff is bogged down with manual procedures, making it difficult to process member benefit applications in a timely and efficient manner," said Terry Slattery, executive director of the PERA. "This new system will allow PERA to more effectively meet the needs of our employers and members."

The system will be implemented in three stages and is scheduled for completion in 32 months, officials said. As part of this process, the existing mainframe system will be replaced, and the vendor, Covansys, will design and implement the new pension-administration system. The new PERA system will provide integrated workflow, imaging and office-automation capabilities that should significantly improve the speed and accuracy of business processing.

The new system will allow PERA staff to:

- Improve records management and reporting capabilities;

- Enhance customer service functions;

- Improve data quality;

- Reduce processing times for requested services; and

- Improve work tracking and process management.

The new system will provide the 54,000 active members and 17,000 benefit recipients in New Mexico and their employers Internet access to account information, faster completion of requested services and a higher level of customer service.

The New Mexico PERA signed an $11 million contract with Covansys to develop and implement the new pension-administration system.