Modernization
JEA Modernizes and Improves Pension Administration Services
for California Pension Organization
Project Summary
JEA was contacted by a pension group in Los Angeles to assist with their administration services. This retirement plan provides both defined benefit and defined contribution benefits to retirees. It provides for Vested, Termination, Retirement, Death and Disability Benefits. There are approximately 8,000 active members, 1,700 former members with contributions on account, and 9,500 retirees, surviving spouses, and other beneficiaries receiving monthly allowances.
Objectives
This client's administration process was a patchwork of legacy systems requiring substantial user intervention and data entry.
The selection committee contracted JEA to:
- Modernize, improve and automate their current pension administration services
- Automate the administration process
- Provide web access to the system for membership
- Convert and clean data from several legacy HR systems
How We Excelled
JEA used leveraged PenMethods to efficiently implement the project in four distinct phases: two for active member functionality, one for payroll and retired member functionality and a final release for web access and services.
JEA implemented their Integrated Pension System to automate and advance this client's pension administration process. The solution includes installing the JEA PENFAX Suite of Products, configuring the system according to the plan requirements, conducting data conversion, testing, user training, and providing continuing ongoing support to ensure that pension recordkeeping system and processes are managed and maintained to the client's high standards.
The administration requirements for the project included:
- Maintaining up-to-date member information
- Calculating service, contributions and earnings for benefit purposes
- Managing and calculating past service credits.
- Performing retirement and termination quotes.
- Calculating Domestic Relation Order (DRO) benefits.
- Payment of retirees, terminated members and beneficiaries with all appropriate deductions for taxes, Medicare, and other third-party deductions.
Case Studies