<img src="https://ml.globenewswire.com/Resource/Download/16343721-1581-49b7-a1a9-4fcfa086fece?size=2" nborder="0" align="left" hspace="5" vspace="5" title="Sagitec-logo-gray-orange-RGB.png" alt="Sagitec"/>Cloud-Based Neospin™ Pension Administration System to Support more than 462,000 Members and Drive Statewide Pension Administration TransformationSAINT PAUL, Minn., June 10, 2026 (GLOBE NEWSWIRE) -- Sagitec Solutions, a global leader in pension administration technology, announced that it has been selected by the Teachers’ Retirement System of the State of Illinois (TRS) to modernize its pension administration system. Through this engagement, Sagitec will implement its Neospin pension administration software, helping TRS replace multiple legacy systems with a secure, scalable and future-ready solution designed to support one of the nation’s largest public retirement systems serving hundreds of thousands of members and a broad network of participating employers across Illinois. Neospin (powered by Sagitec’s shared technology platform, Xelence) will streamline pension administration operations, enhance digital self-service capabilities for members, and enable TRS to respond more quickly to legislative and business changes. With integrated employer and member self-service, the platform will also improve engagement and accessibility, while creating operational efficiency for TRS staff. “This project represents a significant step forward in modernizing our technology and enhancing the services we provide to our members and employers like generating benefit estimates, issuing refunds, service and disability retirement processing, benefit payroll and much more,” said Gloria Lasley, chief operating officer at the Teachers’ Retirement System of the State of Illinois. “Sagitec’s solution offers the flexibility, scalability and innovation we need to support our long-term mission.” Neospin will provide TRS with a unified, cloud-based platform to manage the full lifecycle of pension administration, including member enrollment, employer reporting, benefit calculations and retirement processing. Once in production, unlike traditional pension systems that rely on costly, disruptive upgrades, Sagitec’s approach empowers TRS to control when and how enhancements are adopted, ensuring the platform evolves in a predictable and sustainable manner while significantly reducing total cost of ownership over time. “We are honored to partner with TRS on this transformative initiative,” said Subodh Murthi, managing director at Sagitec Solutions. “This engagement reflects Sagitec’s deep commitment to delivering flexible, future-ready pension platforms that not only modernize core operations but empower our clients to adapt and lead in a rapidly evolving environment. We look forward to supporting TRS in delivering exceptional service to Illinois educators for years to come.” Sagitec will provide Microsoft Azure Commercial cloud as the underlying Infrastructure as a Service (IaaS), and the solution is designed to scale with TRS’s future needs while ensuring high availability, performance and resilience. Sagitec brings more than two decades of experience delivering pension administration solutions to public sector organizations. Neospin supports numerous retirement systems across North America, including several large, complex teachers’ retirement systems. About TRS Founded in 1939 by the Illinois General Assembly, the Teachers’ Retirement System of the State of Illinois (TRS) is one of the largest pension systems in the United States. TRS provides retirement, disability and survivor benefits to teachers, administrators and other public-school personnel employed outside the city of Chicago. The System serves more than 462,000 members and had assets of $84.6 billion as of April 30, 2026). TRS is governed by a 15-member Board of Trustees.  For more information, please visit <a href="https://www.globenewswire.com/Tracker?data=BBPiOGQMp97BJejFTIpSUtbpDK2qMkTueYCUgtlrMX146E7AaQ-0pUKFR8zZ9Rq13wHKRI-sBrW1CQ1_4kcLhA==" rel="nofollow" target="_blank" title="trsil.org">trsil.org</a>. About Sagitec Sagitec is a global software provider that delivers configurable, rule-driven solutions built on a powerful platform for complex benefits administration. With deep expertise across pension, unemployment insurance tax and benefits, workforce and healthcare, Sagitec has been a long-term partner of more than 20 years for over 40 clients. Visit <a href="https://www.globenewswire.com/Tracker?data=QwjNV58SrEdwKbC_r4Zjp1hrechsSb1I5iaaSsKzJ5W48L0Q0tOJqraGo8wHC0V34zoFAn3C-gzb4QKDTa4rNmuZaJPtuWEAPZwxY1wrVIE=" rel="nofollow" target="_blank" title="www.sagitec.com">www.sagitec.com</a> for more information. <pre>CONTACT: Media Inquiries:
sukanya.samy@sagitec.com </pre> <img alt="" src='https://ml.globenewswire.com/media/ZWVjNGY2YTMtZDFjZi00M2Q2LWIxNzItNGQzZTBhYTY3OTQ3LTEyNjQwMjMtMjAyNi0wNi0xMC1lbg==/tiny/Sagitec.png' referrerpolicy='no-referrer-when-downgrade' />

GlobeNewswire Inc.

Teachers’ Retirement System of the State of Illinois Selects Sagitec for Pension Administration Modernization

Latest news from the world of business and finance – both local and global

MONEY FM 89.3 is Singapore's first and only Business and Personal Finance station, featuring local and international business and financial news.

MONEY FM 89.3

Discover newsletters from our DJs on LinkedIn