PeopleSoft Enterprise Pension Administration

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.

BENEFITS

    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.