ST. PAUL, Minn., May 05, 2025 (GLOBE NEWSWIRE) — Sagitec is proud to announce that it has been awarded the Maine Public Employees Retirement System (MainePERS) project. This achievement is a testament to Sagitec’s commitment to adhering to the vision that MainePERS has for a dynamic and user-friendly Pension Administration System (PAS).
MainePERS envisioned a PAS that would adeptly administer pension benefits while enhancing transparency, accuracy, and efficiency. The new system aims to resolve identified operational challenges, enrich user experience, ensure regulatory compliance, and offer a scalable platform that adapts alongside technological advances, organizational development, and regulatory and statutory requirements.
Sagitec’s solution, Neospin™, is designed to achieve this vision through several strategic goals and objectives:
- Enhance Efficiency: Neospin will streamline and automate processes to increase direct processing of member requests and minimize manual interventions and errors.
- Ensure Compliance: The system will facilitate adherence to statutory and regulatory requirements, safeguarding the interests of members, retirees, beneficiaries, and employers.
- Improve Stakeholder Experience: Neospin offers improved interfaces for self-service functionalities for members, retirees, beneficiaries, employers, and MainePERS staff, ensuring accessibility, clarity, and ease of use.
- Support Data Integrity and Security: The solution ensures the integrity and security of data, adhering to the highest standards of cybersecurity and data protection.
- Enable Scalability: Neospin is built with the future in mind, offering a platform that is adaptable and scalable, accommodating evolving needs and technological advancements.
“We are excited to begin this partnership with Sagitec and implement the Neospin product at MainePERS. Sagitec offered the best opportunity for modernizing MainePERS’ system to best serve members, retirees, and employers and improve efficiencies for staff.” Dr. Rebecca M. Wyke, CEO MainePERS
Sagitec’s approach to security subscribes to NIST and FedRAMP standards, providing a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services. Additionally, Sagitec will leverage Microsoft Azure Commercial cloud as the underlying Infrastructure as a Service (IaaS), ensuring robust and reliable performance.
“We are thrilled to partner with MainePERS on this visionary project. This collaboration is a significant milestone for Sagitec as it aligns perfectly with our mission to deliver innovative and efficient solutions in the pension administration space. By leveraging our Neospin™ platform, we are committed to enhancing transparency, accuracy, and efficiency in pension administration, ultimately improving the experience for all stakeholders involved. This partnership underscores our dedication to driving technological advancements and providing scalable solutions that meet the evolving needs of our clients.” Subodh Murthi, Managing Director of Pension Business at Sagitec
With these strategic goals and objectives, Sagitec is poised to deliver a PAS solution that not only meets the immediate needs of MainePERS but also scales to accommodate future developments and challenges. This partnership underscores Sagitec’s dedication to improving efficiency, quality, service delivery, and member experience for MainePERS.
Since 1942, the Maine Public Employees Retirement System (MainePERS) has helped public employees prepare for retirement. The System’s contributing members include teachers, state, county, and municipal employees, legislators, judges, and those who work for other public entities. Upon retirement, public sector retirees or their beneficiaries receive monthly benefits from retirement plans offered by MainePERS. The System also administers Disability Retirement, Group Life Insurance, and MaineSTART, a tax-deferred retirement savings program.
About Sagitec Solutions
Sagitec is a global software provider focused on solving complex, business-rule-driven problems with proven technology. Sagitec serves some of the largest pension organizations in the world. The fully integrated, web-based pension administration Neospin™ solution is powered by Sagitec’s core platform, and supports millions of plan participants, many thousand employers, and administers multiple types of pension plans including but not limited to defined benefit and defined contribution.
In addition to serving the pension industry, Sagitec Solutions designs and delivers software solutions for unemployment insurance, paid family medical leave, disability insurance, and healthcare. With deep industry experience, Sagitec is a partner clients can trust to drive their vision into action. For more information, visit: www.sagitec.com
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