I21-065 - Pension Administration System

York University (“York U”) as well as Brock University and University of Windsor (“the Group”) is seeking information on pension plan administration solutions to provide substance to the classic question of “Do we manage in-house, if commercial off-the-shelf software solutions are capable enough? or outsource?”

The Group is looking to potentially replace its existing in-house pension plan administration system currently provided by the same external vendor and wishes to better understand:
 

• The Vendors in the marketplace that can provide:

1. 1. A commercial off-the-shelf software solution that allows in-house hybrid pension plan administration. The solution should be able to be configurable to accommodate each of the Groups individual Hybrid Pension Plan Models (more info below);
   2. Wholly outsourcing of the pension plan administration services;
   3. Partial outsourcing shared solution, such as, daily operations by the Vendor and annual reporting by Group members.  

• Up-to-date information from industry experts on the current and future trends for pension plan administration;

• Pricing Models: What is the most widely Industry Pricing Model used? What is your Pricing Model used? While specific pricing is not asked for, range pricing within the industry would be helpful and welcomed;

• Data Mapping and Transfer Services from the existing system; Typical methodology, difficulty and cost range?

• Helpful tips on avoiding common pitfalls the Vendors may have seen/experienced for our consideration to be included in the drafting of the Request for Proposal (“RFP”).