Why PS Pension Administration?  

The most basic question any company or organization should ask themselves when considering the implementation of the PeopleSoft Pension Administration module is, " Why should we use the PS Pension Module as opposed to some other pension administration software package?"

PSPension believes the answer first comes in describing what the Pension Administration module is not. The PeopleSoft Pension Administration module is not:

• a custom application that requires a consultant to make every future change to hard coded sub-routines.

• a bolt-on application that must be interfaced to other HRMS systems

• an inflexible and hard to configure application

• a ridged, low functionality, and unenlightened software package that requires multiple customizations to make it work for almost any DB plan parameter

The PeopleSoft Pension Administration application is tightly integrated with the PeopleSoft HRMS and Payroll modules. PS Pension is the natural choice for owners of the HRMS and Payroll modules for just this reason, but this is not the only reason.

The PeopleSoft Pension Administration module was designed to be configurable to almost any Defined Benefit, Cash Balance, or Contributory pension plan. Novice implementation consultants "run home to momma" and conclude that a customization is required in order to meet the functional requirement of a given pension plan.

Seasoned PS Pension Admin implementation consultants know that most functionalities can be configured by using the wonderfully flexible tools provided within the PS Pension Admin package. This saves tons of money at upgrade time.

There are still more reasons to purchase the PS Pension Admin module such as:

• Pension processes are more efficient and more accurate

• IT costs are lower as less strain is put on the system in terms of complex and long processing jobs

• More data is available to more users allowing for better business decisions. Analytical studies can now be performed on pension liabilities and payments that may not have been possible previously

• The ability to push certain pension processes out to the web means that employees may have more self service opportunities which saves administrator time and provides accurate estimates and projections for inquisitive employees and prospective retirees.

• The included trustee extract process delivers every data point required in order for a third party pension payroll firm to issue timely and accurate retiree payments

• More streamlined and efficient administrator processes, pre-configured forms and letters, and the immediate availability of employee or retiree data means that fewer FTEs will be required to administer more transactions. The cost saving opportunities are abundant.

When it comes to improved productivity and data availability the PeopleSoft Pension Administration module delivers. There are more benefits... just ask us!

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