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PeopleSoft Enterprise Pension Administration
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Oracle's PeopleSoft Enterprise Pension Administration enables you to manage
multiple, complex, defined-benefit plans with a single pure internet solution
that you can configure to match your unique plan rules. Automate tasks
ranging from pension calculations to tracking service credit, produce
reports, and provide critical information to use when counseling plan
participants.
PeopleSoft Pension Administration is part of Oracle's PeopleSoft Enterprise Human Capital Management family of applications.
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Integrate Your Data
- Leverage the capabilities of the entire range
of PeopleSoft Enterprise HCM solutions to integrate pension data
in a single database.
- Store effective-dated employment history to track
jobs, employment status, salaried or hourly status, union affiliation,
and more.
- Access individual historical earnings, hours,
and pension contribution data; consolidate data; or keep per-period
history.
- Track all payees (retirees, beneficiaries, and
qualified domestic relations order [QDRO] alternate payees) in one
database.
Manage Complex Plan Rules
- Establish rules for every aspect of your plans,
including eligibility, participation, compensation, vesting, contributions,
optional forms of payment, and early retirement factors.
- Use effective-dating to keep a history of plan
provisions.
- Set up rules for special plan provisions, including
grandfathered benefits, early retirement window benefits, minimum
benefit formulas, and breaks in service.
- Calculate service by using elapsed time, hours
counting, or hours equivalency methods, which you can establish
independently for each plan.
Manage Contributory Plans
- Calculate employee contributions and manage separate
employee accounts (for example, tax-deferred, post-tax).
- Automatically deduct pension contributions from
employee paychecks via an interface with PeopleSoft Payroll.
- Administer "buyback" provisions.
Automate Administrative Functions
- Maintain service credit accruals and payroll
consolidations through periodic batch updates.
- Run on-demand calculations for individual employees,
or schedule large batch runs for later processing.
- View calculation results online and print worksheets
to explain pension benefits to your employees.
- Track communications, activities, election forms,
and verifications.
- Track domestic relations orders (DROs).
Calculate Benefits
- Calculate benefits for all types of pension plans;
for all optional forms of payment; and for past, present, or future
dates.
- Produce worksheets with estimates and accrued
benefit information for plan participants.
- Calculate benefits for a group of employees by
using an event date alias.
- Enable plan participants to project pension benefits
via the Internet by using PeopleSoft Enterprise eBenefits' Self-Service
Estimate Pension function.
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