Liz, I guess that I am lucky - I do not have any boggy areas probably because of the terraces and sloped ground. Previously I planted peonies on slopes and one specially prepared slightly raised bed, but last year I planted a few peonies in my lower back yard which consist of terraced beds 15% and 2 level areas - lower 50% and higher 35%. All peonies survived and I gave them away before planting the ones I received this fall. Still keeping my fingers crossed as some of them are hybrids... I planted them in the middle of lower area and slightly away from slopes and terraces. I may have the ground slightly soggy after extttreme rain or melting snow, but the effect usually disappear in 1 or 2 days. I will probably have to do something if they are not going to perform in the spring.
Karen, I utilized the bulb fertilizer that you mentioned. May be I should have raised my peonies ( new roots of this year ) 2-4 inches above the ground and will regret being overconfident.