Xerox's CPAS company has been selected to assist in the Los Angeles Fire and Police Pension System's administration in an effort to centralize the system's record keeping operations.
Police and fire retirees and members will have access to benefit statements, estimates, balances and payment information via CPAS technology under the three-year contract, Xerox said Monday.
“Pension plans look to maximize operational and technical efficiencies that improve member services while managing their operating costs,“ said Don Hubicki, group president of state government services at Xerox.
“One area that pension plans can find cost savings today is by updating expensive legacy administration systems with state of the art web-based technology,“ added Hubicki.
CPAS delivers defined benefit, defined contribution and retirement savings plans, and health, welfare and group life insurance premiums.