the fund is currently involved in a large scale implementation of an entirely new integrated pension administration system which, following a controlled deployment, is expected to be fully live during the summer of 2015. the fund will provide you with more specific up to date information as we move closer to the complete deployment of this new system. in the meantime, i would stress that ipas will not have any direct impact on the participants, retirees or other beneficiaries. if your periodic benefit is already in payment, it will continue to be paid at the same regular time and interval each month and no further action is needed from you. however, during project implementation some of you may experience a temporary slow-down of processing times and response time.