Pension Management System Requirements

This attachment document provides detailed system requirements for the Pension Management System component within the City of St. Petersburg's Enterprise Resource Planning (ERP) Software Modernization project. The document outlines functional and technical specifications that the selected vendor must fulfill as part of the comprehensive ERP implementation effort to replace the current Oracle E-Business Suite with a cloud-based SaaS solution. The pension management system must integrate seamlessly with other core modules including Finance, Procurement, Human Capital, Budgeting, and Planning, and accommodate the City's current workforce of 3,201 full-time employees, 603 contingent workers, and 2,727 retirees. The vendor is responsible for system design, configuration, data migration of existing pension records, comprehensive testing, implementation, staff training, and ongoing maintenance. The project manager must be onsite quarterly for two-day reviews and present for module-specific kickoff and go-live events, with proposals due electronically by February 17, 2026, at 3:00 pm and an anticipated award recommendation to City Council on September 17, 2026.

The pension management system requirements establish performance standards and operational capabilities necessary to support the City's retirement and pension administration functions. The system must be capable of processing and managing pension calculations, benefit determinations, distribution schedules, and retiree information for the existing 2,727 retirees while maintaining data integrity during migration from the legacy system. Requirements address security protocols, compliance with applicable federal and state pension regulations, reporting capabilities for pension liability and actuarial reporting, and integration points with the human capital and financial modules to ensure accurate benefit accruals and payment processing.