Administration System Migration

TIAA-CREF (Teachers Insurance and Annuity Association - College Retirement Equity Fund) is one of the world's largest retirement systems, with $406 billion in combined assets under management, and ranks as one of Fortune magazine's 100 Largest U.S. companies. TIAA-CREF engaged IQ to manage their administration system implementation.

The Business Challenge

The administration platform within TIAA-CREF consisted of a number of separate proprietary in-house or packaged based solutions. There was little integration between the various systems and many of the systems were complex due to the myriad of business rules which were applied across the organisation.

TIAA-CREF engaged IQ to work with it in analysing the issues and delivering their vision. IQ was charged with performing a phased delivery of the new administration platform converting plans as functionality was made available. This is a major system implementation project which is still ongoing.

The Solution

IQ identified that one of the reasons for previous failure had been the failure to involve TIAA-CREF staff and obtain commitment from them. IQ was also cognisant of the fact that staff had limited available time and therefore created a network of project coaches who were experienced in project management and pension administration processes to assist the TIAA-CREF staff. These resources reported to the relevant TIAA-CREF staff as well as reporting to a centralised programme office. This ensured that TIAA-CREF staff  were involved in the project and day to day work pressures did not impact the project management of the project.

Additionally, IQ centralised the requirements gathering processes and co-ordinated the completion of requirement documentation from a standard, quality and completion perspective. IQ co-ordinated the input of TIAA-CREF subject matter experts and the sign off processes to ensure TIAA-CREF input while maintaining project deadlines and deliverables.

The final component involved IQ creating a centralised Program Office to consolidate and monitor project progress from all IQ, TIAA-CREF and Third Party participants in the project. This ensured a consolidated and dependant project plan was maintained.

The major Benefit to TIAA-CREF in this project was the final realisation of its vision: the required functionality has been delivered in the administration system.