LRS® Retirement Solutions has been awarded a project with another water utility.
The East Bay Municipal Utility District (EBMUD), located in Oakland, CA, selected LRS Retirement Solutions to provide a new pension administration solution for their Employees’ Retirement System (EBMUDERS). Since late 2020, this marks the third significant water utility to select PensionGold® software as their strategy to increase staff efficiency and provide exceptional services to their plan membership.
As the result of a lengthy competitive bid process, LRS was selected and the project kicked off in the first part of 2023. The implementation includes LRS Retirement Solutions’ commercial off-the-shelf line of business software, PensionGold Version 4, along with software extensions MemberDirect (member portal), EmployerDirect (employer portal), and EDMDirect that will interface with their current document imaging solution; as well as workflow integration.
LRS Retirement Solutions’ suite of products replaces a patchwork of programs EBMUDERS used for salary and service credit record keeping, pension calculations, benefit set-up, payroll processing, and financial reporting. Current administration tasks include manual data entry, periodic ad‐hoc file feeds, data manipulation, and file management – all of which are time consuming for both EBMUDERS and agency IT staff.
The project goal is to implement a modern, reliable pension administration system that will automate manual processes and improve services for EBMUD active plan membership and payees.
EBMUD is a 100-year-old water district that supplies drinking water to 1.4 million customers in Alameda and Contra Costa counties. The District’s award-winning wastewater treatment protects the San Francisco Bay and serves 740,000 customers.
The EBMUD Employees’ Retirement System has net assets of approximately $1.7B and includes about 4,000 total plan members served by a staff of 4 full-time employees, including support from various agency offices.