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Retirement Reporting
Module |
The Retirement Reporting Module (RRM) consolidates
retirement account information from both Savings and
Certificate of Deposit applications to provide on-line inquiry
and comprehensive reporting.
RRM projects required minimum distributions, and it
generates customer statements, audit, exception, and
distribution eligibility reports. It also schedules account
reviews and generates customer notices of upcoming reviews.
Inquiry, Reporting
RRM inquiry and reporting capabilities include:
- Individual customers - retirement plans, such as
individual, spousal and SEP, combined by tax ID number. For
example, customer inquiries are used to review all the
retirement accounts belonging to a tax ID number.
- Retirement account plans - plans are used to
automatically combine multiple accounts of the same type,
such as individual, spousal and SEP. For example, plan
inquiries are used to review all retirement accounts
classified as individual IRA accounts.
- Individual savings accounts and certificates of deposit.
- Tax reporting information.
- Beneficiaries.
Features of the Retirement Reporting Module
- Consolidation of Premier Savings and COD retirement
accounts – Account information is accumulated by retirement
plan.
- On-line inquiry – Consolidated inquiries of customer,
plan, account, and tax information, as well as distribution
and beneficiary data.
- Required minimum distribution calculator – Including
calculations based on single life expectancy, joint life
expectancy, or Minimum Distribution Incidental Benefit (MDIB).
- Customer notification – Custom options provide flexible
production of notices, reviews, and statements
- Comprehensive reporting – Standard and custom reports
detail account activity and analysis.
- Plan level parameters – Separate plan types control
processing for IRAs, SEPs, Keoghs, Conduits, and other
categories.
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