Education
A Review of the Status of the Teacher Retirement System's Benefit Services Transformation Project
June 2000
Report No. 00-019
Overall Conclusion
The Teacher Retirement System (System) may not have the skills and controls it needs to complete the Benefit Services Transformation (BeST) project.
Key Facts and Findings
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After receiving some completed portions of BeST, the System canceled its contract with TRW, Inc., because the contractor could not meet the August 31, 2000, deadline.
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The System plans to complete BeST using its own staff; however, discussions with management indicate that skill and time requirements have not been adequately assessed.
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The System has spent $10.8 million of the $12.7 million projected total (excluding System salaries) on the project since its inception in 1997.