Central Pension Fund (CPF) Selects Vitech's V3locity for Business Transformation

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Jun 05, 2023, 10:10 ET

NEW YORK, June 5, 2023 /PRNewswire/ -- Vitech is proud to announce its partnership with the Central Pension Fund of the International Union of Operating Engineers and Participating Employers (CPF) to upgrade its pension administration system (PAS) utilizing Vitech's V3locity cloud-based administration, engagement, and analytics platform. CPF is one of the largest multi-employer defined benefit pension funds in the United States.

CPF has over 210,000 participants, which includes over 80,000 retirees, and 6,200 contributing employers located throughout the United States. "The scale of employers involved makes this transformation project unique and Vitech is honored to be a part of it. We look forward to seeing the results of its improved short- and long-term operational and technical capabilities," said David Burns, Vitech's CEO.

Vitech's V3locity will provide CPF with a two-phase implementation process. The first phase will replicate the current system, followed by enhancements, new features, and functionality including Digital Self-Service, Member Self-Service, and Employer Self-Service options.

V3locity is a transformative suite of complementary applications that offers full life cycle business functionality and robust enterprise capabilities. It marries core administration with a revolutionary digital experience. Its modular design enables flexible, agile deployment strategies. V3locity employs an advanced, cloud-native architecture that leverages the unique capabilities of AWS to deliver a solution with unparalleled security, scalability, and resiliency.

About Vitech

Vitech is a global provider of cloud-native benefit and investment administration software. The organization helps their insurance, retirement, and investment clients expand their offerings and capabilities, streamline their operations, gain analytical insights, and transform their engagement models. Vitech employs more than 1,400 professionals, serving the world's most successful insurance, retirement, and investment organizations. An innovator and visionary, Vitech's market leadership has been recognized by industry experts, such as Gartner, Celent, Aite-Novarica, and ISG. For more information, please visit www.vitechinc.com.

About Central Pension Fund

The Central Pension Fund (CPF) is a multi-employer, defined benefit pension fund established in 1960 to provide retirement, disability, and death benefits to members of the International Union of Operating Engineers and their families.

SOURCE Vitech Systems Group