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Defined Contribution
and Defined Benefit Plan Administration
Pension, Annuity and Vacation Fund benefit payments are processed on an internally developed database system that can generate a file of Automated Clearing House transactions for the electronic deposit of funds to participants' accounts, as well as produce hard-copy checks. This system is easily adaptable to address each individual Client's unique plan design, benefit application process, payment procedures and reporting requirements. The pension benefit award calculations are automated with a manual verification process to ensure accuracy. We can also perform various participant verification procedures (e.g., death and, address searches), produce annual credit/benefit statements, and provide comprehensive, accurate and timely data for the preparation of the plan's actuarial valuation.
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