Pension Plan Processing
Standard Data Corporation's Pension Processing System is an integrated platform module that provides quick access to participant pension information. This sophisticated system is easy to learn and easy to use, and is available as a web-based ASP offering. Plan recipients may elect our direct deposit feature for secure and convenient access to plan distributions.
SDC's Pension Plan Processing System provides the following functionality (partial listing):
- Pension Tracking, Reporting, Calculation, Check Disbursement System
- Credit History with Display and Maintenance of Monthly Detail
- Pension Eligibility
- Extensive Calculation Features
- Multiple Plan Benefit Calculations
- Benefit Award Estimates
- Comprehensive Actuarial Reporting
- QDRO Processing
- Pensioner's Beneficiary Tracking
- Check Production (automatic and manual) (MICR) w/Reconciliation Processing
- Reporting and Information Processing includes: 1099R, letters, reports, statistics
- Updating of Employer Contributions and Hours in Individual Member Records
- Creation of Annual Pension Benefit Statements
- Assistance to Auditors of Pension Plans
- IRS 1099 Production
- Web-based Particpant Inquiry
- Interactive Voice Response Interface
- Document Imaging Interface
- Preparation and issuance of Pensioner Benefit Payments through Direct Deposit/EFTS
- Preparation of Death or Termination Benefits
- Preparation of Income Tax Reporting Forms
- Preparation of Actuarial Valuation Informatio