LRS® Retirement Solutions is thrilled to announce a new in-state customer. The Metropolitan Water Reclamation District Retirement Fund (MWRDRF/Metro Water), located in Chicago, selected the PensionGold® solution as a result of their multi-phase competitive bid process that included a vendor qualification assessment, request for proposals, and a best-and-final-offer stage.
Metro Water embarked on the evaluation of a new administration system as a replacement to the solution that had been in place for many years. Among the key objectives for the new solution were an over-all technology and infrastructure upgrade, improved business and workflow processing, a secure self-service option for the plan membership, and improved data integrity and security.
The project with MWRDRF will include the implementation of LRS’ PensionGold line of business pension administration software, MemberDirect (member portal), LRS’ PageCenterX® document imaging solution, and EDMDirect (imaging interface extension). Managed hosting services will be provided by our hosting partner, Flexential.
Jim Mohler, Executive Director of Metro Water Retirement Fund stated: “In considering LRS for our long-term pension administration system needs, we were impressed with their understanding of our complex requirements and that they were able to turn around a customized system demonstration in a timely fashion. We could see how the LRS system would address our long-term needs. We look forward to building our system with LRS.”
The MWRD Retirement Fund was established in 1931 and has ten staff responsible for investment of the Fund’s assets and providing administrative services for approximately 1,700 active plan members and 2,600 annuitants and beneficiaries.