New Mexico Educational Retirement Board Goes Live with V3 Upgrade

NEW YORK, March 17, 2015 /PRNewswire/ — Vitech^® Systems Group, a leading provider of administration software to insurance, retirement, and investment organizations, announced today that the New Mexico Educational Retirement Board (ERB) has successfully implemented their upgrade of the Vitech V3 System^™. The New Mexico Educational Retirement Board provides retirement benefits for 61,000 active members, 36,500 inactive members and 42,000 retirees from school districts, higher education and educational agencies.

This go-live included upgrades to ERB’s imaging, demographics, contributions, participant accounts, service credit purchase (SCP), pension, and disbursements functions along with employer and member self-service portals. The completion of this project marked a major milestone in a partnership that first began in 2001 when ERB originally contracted Vitech to develop an Integated Retirement Information System to automate the management of pensions for educators across the state of New Mexico.

“We are happy to continue our long standing relationship with the ERB,” said Bob Vedilago, Vice President at Vitech. “It is great to see the ERB improve operations and achieve excellence in customer service through our V3 software offering.”

“The V3 System has helped us meet our goal to continually improve the quality of member and employer service,” said Rick Scroggins, Deputy Director at New Mexico Educational Retirement Board.

The V3 System is a highly scalable and configurable administration solution designed to meet the unique needs of insurance, retirement and investment organizations. Built on highly contemporary technology, the V3 System is a browser-based system that includes native functionality for business functions including billing, enrollment, benefit calculations and self-service as well as enterprise functions including workflow, CRM and imaging capabilities.

About the New Mexico Educational Retirement Board

The New Mexico Educational Retirement Board provides secure retirement benefits to teachers, administrators and other employees within the state’s public school systems, institutions of higher learning and educational agencies. It strives to make its members’ retirement experience optimal by prudently managing the financial assets for the fund, providing prompt, accurate responses to members’ inquiries and educating members about both the financial and personal aspects of retirement.

About Vitech Systems Group, Inc.

Vitech Systems Group, Inc. is a leading provider of administration software to insurance, retirement and investment organizations. Vitech provides its clients with proprietary enterprise software, related implementation services and ongoing support. For more information, please visit www.vitechinc.com.

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SOURCE Vitech Systems Group, Inc.

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