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START Project | |
| Frequently Asked Questions for Employers |
Q: What does START mean to me as a
participant?
A: As an employer, you will be able to electronically submit payroll reports, automatically calculate and verify contribution amounts, and transfer funds. You will be able to contact staff with questions and receive a response within days if not hours or even instantly (as you will have direct access to your agency's account). Top![]()
Q: When will I notice
changes?
A: Given the magnitude of the START Project, it is expected to take
approximately three years to complete. As a result, changes in the way KRS
operates will be implemented in phases.
As an employer , you will first notice changes in Phase Six of the START
Project, scheduled to be completed in the fall of 2009. Top![]()
Q: What steps are being taken to
make sure my account information is secure?
A: KRS remains focused on security because of the sensitivity of the
information that KRS maintains on behalf of its membership. KRS hired an
Information Security Officer (ISO) in 2006. The ISO has been working to improve
security by updating security tools and educating staff. KRS continues to make
improvements to its organizational policies and procedures, and is actively
taking steps to address security risks in the organization. The new START
system features technology to help protect the safety of every member through
secure member log-in, which uses a unique member ID and password for data
access. KRS will continue to improve security measures in non-START technology
and make appropriate changes to business operations to improve
security. Top![]()
Q: With increased incidents of
identity theft, will my social security number (SSN) continue to be used as my
KRS account number?
A: No. When the new START system is implemented, KRS will use a unique member
number to identify your account. This will decrease reliance on SSNs and better
protect the information that KRS receives from its employers. However, KRS will
need to use SSNs for tax purposes. Top![]()
Q: Will I experience an
interruption in the services I receive from KRS?
A: No, we do not anticipate any interruption to the services we provide. KRS
remains committed to providing the same one-on-one quality service while
converting to the START system. Top![]()
Q: What company has KRS contracted
with to implement START?
A: KRS has contracted with BearingPoint, Inc. to implement the START Project.
BearingPoint has been in business for over 100 years. BearingPoint, Inc. is one
of the world's largest providers of management and technology consulting
services to Global 2000 companies and government organizations in 60 countries
worldwide. Based in McLean, Va., the firm has over 17,000 employees and major
practice areas focusing on the Public Services, Financial Services and
Commercial Services markets. Top![]()
Q: What is BearingPoint's
experience with public pension systems?
A: BearingPoint's retirement industry experience reflects a number of state
clients, including (but not limited to):
Q: How did KRS select BearingPoint
to implement START?
A: In February 2006, KRS issued a Request for Proposal (RFP) inviting companies
to provide a proposal for the modernization of the line of business solution
used by KRS to provide services and benefits to our active members, recipients,
and employers. After a significant review process, KRS selected BearingPoint as
having the solution and experience that would best position KRS to provide
enhanced services in the "digital age." The KRS Board of Trustees approved this
selection and authorized KRS to move forward in the process. Top![]()
Q: Does the cost of START effect
the KRS pension funds?
A: The funding of the START Project represents approximately 15/100ths of 1%
(about 0.0015%) of assets managed by KRS. Thus the effect is minimal on the
overall funding of KRS. It is also important to note that the START Project was
approved by the Capital Planning Advisory Board and was designated as a high
value Project for the Commonwealth of Kentucky. Top![]()
Q: What training and support will
be provided to Recipients for START?
A: The START project team will develop a detailed training plan to ensure your agency is prepared prior to the system going live. This process will include the development of training materials and exercises to be utilized in the training of KRS Employers.
Q: How will I receive updates about
the START Project?
A: Communication is a vital component to the success of START and KRS is
committed to providing the right information at the right time to effectively
meet the needs of our recipients. You may obtain updates regarding START on the
START Web Site, at conferences, and in the KRS
Newsletter. Top![]()