Public Sector: Retirement and Pensions
How InRule Helps Retirement and Pensions Funds
State pensions and retirement funds have come under intense focus in recent years. States budgets are stretched thin, however public sector employees have contributed to pension funds that they expect to be able to access upon retirement.
States looking to deliver superior customer service to public sector employees at the least expense to those receiving benefits and state taxpayers are turning to InRule to manage the logic used to calculate eligibility, benefits and interest.
InRule allows states to provide public sector employees with 24/7 access to records and complete other self-service tasks online, such as accessing forms, requesting information or making updates to contact information.
The rules and calculations that govern pension eligibility and allocations are complex and they can change as laws and mandates evolve. InRule enables personnel who are most knowledgeable about pension rules and regulations to manage the logic that dictates eligibility and allocations.
Allowing non-technical personnel to write and modify pension- and benefit-related logic streamlines the process of rule changes and allows IT to focus on more critical, technical initiatives. In addition, by separating the logic from application code, InRule makes it easy to locate a specific calculation that must be modified or view which rules are in use at a given time to ensure compliance with regulations.
Discover how InRule helped modernize one Midwestern state’s municipal retirement fund by reading the case study.