Project Summary

With assets of $11 billion, this Pension Trust invests and manages one of Canada's largest pension funds and administers the pension plan, a defined benefit plan with more than 82,000 members and retirees.

Objectives

After implementing PENFAX in 2001, the pension administration system upgrade project was launched to improve member services, replace several legacy systems that were becoming increasingly difficult to maintain, and to further automate and modernize the current system.

How We Excelled

To help us meet the challenge we utilized PenMethods to support the efficient implementation of the new administration system. Team members from all of the stakeholder parties, including client analysts, provided input to the system requirements along with staff from JEA, and other client agents. JEA continues to work closely with our client’s team, helping maintain the system and plan parameters as well as introducing new functionality when required.

JEA used the PENFAX Suite of Products to integrate and support the following services:

• Pension administration functions
• Year-end reporting functions
• Statutory compliance
• Web-enabled member self service
• Actuarial valuation calculations.
• Pension payroll system

The components of the integration and deployment also included complexities particular to large Canadian, defined benefit, public sector plans such as:

• Web-enabled actuarial valuation type calculations
• Fully automated marital breakdown subsystem
• Fully automated pension payroll system