PeopleSoft Pension Administration Consultant

Role: PeopleSoft Pension Administration Consultant

Location: New York City NY (Onsite)

Duration: 12 months

Working Hours: 37.5 hours/week

Job Description

The purpose of this position is to support the critical initiatives underway within the PeopleSoft Pension Administration system for administered pension plans. This position is responsible for:

1. Enhancing / modifying / troubleshooting existing pension processes, implementing new processes allowing for accurate, secure and compliant pension processes, calculations and estimates.

2. Implementation & support of all customizations required to comply with pension legislation, tiers, regulatory requirements and collective bargaining agreements.

3. Configuration of all pension rules including eligibility, participation, consolidation (hours, earnings, contributions), vesting, benefit formulas, optional forms.

4. Supporting various bolt on applications, including but not limited to the pension loans administration system

Additional Skills and Information:     

The following knowledge, skills, and abilities are required for this position.

PeopleSoft HCM & PeopleSoft Pension Administration knowledge including:

1. Pensions configuration expertise including pension administration module tables & calculation phase (individual & batch) including;

a. Consolidated Hours, Earnings, and Contributions

b. Service Eligibility, Benefit, and Vesting Service

c. Plan Eligibility and Participation

d. Vesting and Benefit Eligibility

e. Benefit Earning Limitations - 415 Limit Earnings

f. Final Average Earnings and 401(a)(17) Limits / Kingston Cap Limits

g. Overtime Earning Caps as Per CBA’s and statutory changes

h. 415 Limit High 3 and 401(a)(17) Limits

i. Early Retirement Factors

j. Benefit Formulas including death benefits

2. Retiree payroll

3. Annual actuary valuation reporting

4. Annual cost of living adjustments

5. Pension loans administration

6. Service purchase buybacks