Retirement and Pension Solution Case StudiesIdentifying Gaps in Pension Systems
The Joxel Group works exclusively with agencies focused on the public pension fund. Having worked in the public fund industry for many years, we are very familiar with the regulatory requirements for calculations, financial management of fund spending, and projected liability within a fund. As a result, we understand the process that organizations need to use to ensure information is captured accurately to enable effective financial management of their pension funds.
Functional, Technical and System Implementation Audits
We conduct audits on publicly-funded agencies to identify gaps in the business rules resulting from overestimated pension calculations. In addition, we examine the implementation process – project management, data conversion, and testing procedures – to identify barriers to a successful implementation.
Pension System Selection and Implementation
We have documented business drivers, critical success factors, processes, and functional and technical requirements to generate RFPs, conduct vendor evaluations and selections, contract negotiations, and implement pension and benefit systems.
Co-Development Team Management and Execution
We have created co-development teams for publicly-funded agencies to support them through and following implementation. These teams support pension analysts through the entire life-cycle of the retirement process – estimation, calculations, validation, reports for actuarial analysis, etc. We also support the executive team by providing insight on cost estimates from past years. Consequently, The Joxel Group has demonstrated about a 30 to 50 percent reduction in cost.
Operational Efficiency and Financial Validation Analytics
Capturing insight within your business can help you proactively manage your business performance. We have assisted clients by gathering such insight on life-cycle processes (from estimation to retirement payouts) to enable our clients to understand how to optimize these processes. In addition, we provide insight on financials to prepare clients for possible future liability issues.