Required Functionality: • Member recordkeeping and history tracking (active, inactive, and retired) • Automated benefit calculations (normal, early, disability, death, DROP, etc.) • Contribution tracking and service credit calculations • Integration with payroll, HCM, and HRIS systems • Document and file management (member statements, beneficiary forms, etc.) • Web-based member self-service portal • Benefit payment tracking and reporting • COLA administration • Plan valuation support (data exports for actuaries) • Cloud-Based with secure access • Data Security and Compliance: Must comply with federal/state data security requirements (SOC 2, ISO 27001) • User Access & Authentication: Role based permissions, single sign-on (SSO), and multi-factor authentication (MFA) • Disaster Recovery & Backup Optional Features: • Integration with state retirement systems • Mobile access for members • Integration with financial accounting systems
