TCDRS: Retirement System Launches Inspired Solutions
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For more than 40 years, the Texas County & District Retirement System (TCDRS) has been a model for providing reliable retirement benefits. In this unique retirement system, participating counties and districts have the flexibility and local control to choose and change their retirement plan benefits to suit their needs and budgets. Employers and employees save together for those future benefits, and the system is structured so that all promised benefits are responsibly funded.
As a public retirement system with more than 655 participating employers and 247,000 members, TCDRS faces multiple challenges – its responsibility to support employer compliance with all state and federal regulations applicable to public retirement plans, its commitment to provide each participating employer with plan decision support unique to its retirement plan and budgetary considerations, and meet the self-service expectations of the growing employee and retiree membership for services in line with their financial institutions. TCDRS strategically re-imagined how a public retirement system would conduct business and instituted a multi-phase, multi-year project to make the vision a reality. It needed a software solution that was as unique as their system.