Pension Administrator

1 week ago

New York, United States Current Openings Remote Work Freelance Full time
A NYC transportation authority located in downtown Manhattan is looking for a PeopleSoft Pension Administrator for their companywide pension plan for a 12+ month contract.

Pay Rate Range: $60-$63 dependent on experience.
Work Mode: Hybrid, 2-3 days onsite per week

Candidates must have recent experience in the implementation of integrated pension administration solutions in the public sector.

The purpose of this position is to support the ongoing operations and maintenance of the PeopleSoft Pension Administration system for the client's administered pension plans in compliance with their security technologies that are designed to protect the corporate infrastructure at the host, endpoint, cloud, application levels.

This position is responsible for:
  • Enhancing / modifying / troubleshooting existing pension processes, implementing new processes allowing for accurate, secure and compliant pension processes, calculations and estimates.
  • Implementation & support of all customizations required to comply with pension legislation, regulatory requirements and collective bargaining agreements, ensuring that sensitive data is identified, and properly protected using the appropriate security technologies.
  • Migration of legacy data to a centralized & highly customized Peoplesoft pension administration system, upgrading its efficiency through centralized administration.
  • Configuration of all pension rules including eligibility, participation, consolidation (hours, earnings, contributions), vesting, benefit formulas, optional forms.
  • Supporting various bolt on applications, including but not limited to the pension loans administration system

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
Technical skills:
  • Experience with PeopleTools, People Code, SQR, App Engine, and COBOL
  • Ability to keep abreast of the technical solutions available in the marketplace and ability to recognize their applicability.
  • Must be able to recognize when a process requires additional controls and then implement appropriate procedural changes.
  • Adhere to and be guided by all appropriate client IT procedures and standards (e.g., project management methodology, systems development lifecycle, service level agreements).
  • Excellent problem-solving, analytical, planning, and project management skills.
  • Ability to communicate in oral and written form to users at all levels of the company; particularly requires the ability to convey technical information to a non-technical audience.

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