A powerful system for simplifying pension plans
KMR Pension Plan system encompasses the entire Pension Plan process, taking the extra work out of managing and administering pensions for employees who have given their loyalty to your company.
Our Pension Payroll module handles accumulation of Pension credits through payroll reporting. The system has on-demand ability to provide current pension benefit amount, while the Pension Eligibility module shows a complete history of years of service & pension credits. Once member is eligible for pension, leverage the system to produce monthly checks or direct deposits. Our Pension Plan system even has the ability to handle debit card processing.
Our software is customizable for each client, but the core features you can expect are:
- Automatic pension credit calculation based on plan rules
- Pension credit history inquiry
- Validation & eligibility plan rules for processing checks
- Check printing & reporting, including 1099's
- Positive pay & direct deposit capabilities
- Check history display
- Monthly & yearly reports
- Audit letters
- Actuarial reporting including active participants & terminated vested
- Check printing & reporting
- W2 reporting
- IRS magnetic media filing
- Web inquiry capabilities with real time online portals
- Check reconciliation system including ability to post cleared checks from bank
- Pension Estimator - allows members to better plan for retirement by tracking detailed work history and generating estimates based on varying parameters input such as credits and vested years
