|
Features
and Benefits:
- Automatic eligibility
and vesting calculations
- Automatic grandfathering
of accrued benefits
- Dual vesting schedules,
plus top-heavy schedules
- Automatic tracking
of top-heavy years
- Automatic calculation
of Sec. 415 benefit reductions
- Automatic calculation
of IRC 401(a)(4) General Test
- Calculation of defined
contribution and defined benefit fractions on combination plans
- Seven funding methods
(including FASB calculations)
- GATT provisions
include minimum benefit limit
- Calculation of salary
average for any number of years
- Fresh Start options
include with and without Wear-a-Way
- Calculates the quarterly
contribution penalty interest
- Automatic adjustment
of all actuarial base amortization after a change in interest
assumption
- Automatic changes
for short plan years and conversion from beginning of year to
end of year (and vice versa)
- PBGC/GATT lump sum
minimum reporting
- PBGC unfunded for
premium payments reporting
- Use of multiple
mortality
- Permitted Disparity
[IRC 401(1)]
- Automatic benefit
accrual calculations, including TEFRA minimums
- Salary scales and
turnover
- Provision for computing
all optional forms of benefit for terminations as of any time
up to one year after the latest valuation
- 18 Employee classification
codes
- Automatic calculation
of Social Security Benefits
|
The Defined Benefit System incorporates an administrative
tracking system with an actuarial valuation system.
It allows
the User to update plan parameters, benefit formulas, assets and
rates for valuation runs, with ease.
Census data
is input through the Census System which is part of the basic
Defined Benefit System package, along with the Administrative
Functions and Name & Address Systems.
On combination
Defined Benefit and Defined Contribution Plans*, the census need
only be entered once, in the Census system.
For maximum
productivity and minimum down time, the Defined Benefit System
is designed to allow the User to print and work simultaneously.
All reports can be viewed on the screen before printing.
* Defined
Contribution System sold separately.
|
