Members of a joint Senate Finance, Assembly Ways and Means subcommittee voted unanimously on Thursday to support a multi-million dollar computer system for the Public Employees Retirement System.
The four and a half year project will start by cleaning up the PERS database so it can be moved to the new computer system to manage and protect retiree records.
The subcommittee voted to approve $500,000 in each of the next two years from PERS funds to contract with a company to “clean up” the database.
Then the panel voted to approve spending $8.2 million each of the next two years to buy and customize the computer system.
Lawmakers were told there will be another $8.2 million a year needed in 2022 and 2023 and a $4.1 million authorization for the final 2024 fiscal year.
PERS has 94,615 active members and 58,561 retirees receiving benefits receiving a total of $164 million a month.
PERS has a total of $32 billion in assets.
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