OPM Modernizing Trust Funds Federal Financial System
04 Mar, 2019 0 Comments
Like many other agencies, Office of Personnel Management (OPM) is throwing their hat into IT modernization. OPM has IT systems called the Trust Funds Federal Financial System (FFS) that are over three decades old. The FFS performs financial management and accounting for over $1 trillion in combined assets for retirement, health benefits, and life insurance for federal employees. These older systems don’t meet the standards needed for some of the trust fund accounting and related business processes. Not surprisingly, this...