Solution for Automated Calculations of Retirement Plans

Finance
Ruby
Ruby on Rails

Description

Based in the USA, the company is a provider of independent benchmarking services around employee retirement planning. Founded in 2007, the customer offers 240,000+ retirement income plans to over 200+ organizations.

When the customer turned to Altoros, all the calculations behind pension planning were performed in Microsoft Excel spreadsheets. This approach was both time- and effort-inefficient, as well as highly prone to human error as all the calculation formulae were created manually.

Collaborating with Altoros, the company wanted to develop a solution for automated calculations of retirement plans

The outcome

To cover all the calculation scenarios, engineers at Altoros delivered a solution that comprises 8 individual calculators. Each of these components performs calculations for a specific scenario related to social security, state retirement taxes, defined pension contribution, etc. Using the Interactor pattern, our developers delivered a complex business logic behind the calculations, ensuring all the parameters of interest were taken into account before suggesting an optimal retirement plan. By parallelizing the process, the team at Altoros achieved the speed of 30–40 seconds for running simultaneous calculations across hundreds of organizations. Finally, our engineers enabled retirement plan visualization (different charts and graphics) and report generation in an intuitive user interface.

Partnering with Altoros, the customer automated the calculations behind retirement income planning. With 8 calculators responsible for specific scenarios, it is now possible to perform simultaneous calculations across hundreds of organizations in just 30–40 seconds.

Technology stack

Infrastructure

Amazon Web Services

Programming languages

Ruby, JavaScript

Frameworks and tools

Ruby on Rails, Angular.js, Vue.js, RSpec, Vue Material, Vuex, Vue-ApexCharts, Vuelidate, Active Admin

Database

PostgreSQL, Redis

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