Tyler Technologies, Inc. (NYSE: TYL) announced today that the Butler County Board of Commissioners, representing Butler County, Pennsylvania, and the City of Newport News, Virginia, have contracted to purchase its Pension Management solution to manage their respective employee pension plans. In addition to software, each contract includes related professional services and ongoing maintenance and support. Both the County and the City currently use Tyler’s MUNIS financial management solution.
Newport News and Butler County will each implement a full suite of Tyler’s Pension Management software to facilitate the administration of their employee pension plans. They will also use the solution’s Web-enabled applications, providing plan participants with convenient online access to their individual benefit information in a self-service format. With the system’s calculator feature, plan participants will have the ability to project retirement estimates. Plan administrators will be able to enroll employees, correct data and more using the Internet.
The Pension Management system, which uses a Microsoft® .NET framework, is highly customizable and integrates with the MUNIS financial management system, meeting the specific needs of both Butler County and Newport News. Additionally, the Pension Management system complies with the County Pension Law (Act 96) of the Pennsylvania state legislature, making it an effective solution for Butler County.
“As Tyler clients, both Butler County and Newport News have firsthand experience with our professional staff and feature-rich solutions,” said John S. Marr, Jr., president and CEO of Tyler Technologies. “Tyler’s commitment to meeting the needs of the public sector makes our Pension Management solution an excellent match for both administrators and plan participants. We’re pleased to have been selected and look forward to extending our current partnerships with both clients.”
Randy Hildebrandt, Newport News city manager, explained that Tyler’s Pension Management solution offers features the City requires to improve the administration of its pension system, which currently serves approximately 4,000 active retirees. “The City chose the Tyler Pension Management solution because we liked its functionality, the way it captures information and how it tracks service. At the same time, the system provides the flexibility for certain features we have in our current system. Since it is a Tyler product, it works much like the MUNIS system, shortening the learning curve for our staff and eliminating the need for additional processes to interface. An added bonus to us was that Newport News Public Schools purchased the MUNIS human resource product suite, which enables us to import their retirement information into the system with minimal effort.”
Hildebrandt also noted that while Tyler offers Newport News the flexibility it desires, it also has the ability to grow with the City’s needs. The system will offer retirees direct access to their information—a feature the City’s current system does not offer. “We anticipate significant improvements related to data availability, reporting, query and functionality to result from implementing Tyler’s Pension system,” he stated.
Newport News is home to 180,000 residents, making it the fifth largest city in Virginia and among the 125 largest cities in the nation. Settled in 1621 and located in Warwick County at the mouth of the James River, this historic city offers endless outdoor activities.
Historic Butler County, Pennsylvania, was founded in 1800 and extends over 795 square miles. Today it is home to an estimated 178,000 residents. Located in western Pennsylvania, the county is known for its outdoor recreation, festivals and picturesque scenery. Butler serves as the county seat.
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler’s client base includes more than 6,000 local government offices throughout all 50 states, Canada, Puerto Rico and the United Kingdom. Tyler has been named one of “America’s 200 Best Small Companies” by Forbes Magazine and one of “America’s 100 Most Trustworthy Companies” by Audit Integrity, an independent research firm. More information about Tyler Technologies can be found at www.tylertech.com.
Tyler Technologies, Inc. has included in this press release “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company’s customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.
Brian K. Miller, 972-713-3720
Senior Vice President - CFO