Complete pension administration Solution
Our product DB Precision automates the administration of Defined Benefit Pension plans. Once a plan and participant data is setup on DB Precision, the check of a box allows participants and sponsors to produce their own real-time benefit calculations over the web, initiate benefit payments, view/edit data, and even upload/download documents securely through our pension portal. Here is a more detailed list of product features:
• Web Portal: Give plan sponsors and participants access to data and calculations online just by checking a box. There is no web server to purchase, no security standards to learn, and no additional software to buy.
• Robust Relational Database: Permanently store employee data in a single convenient database with simple import and export functionality. There is no limit to the number of participants, plans, or companies/clients that can be set up in the system. See data screens for yourself by clicking here.
• Streamlined Valuation Process: Simply update your participant data, press a button and you are ready to import our standard valuation extract into your liability software. Annual data updates for valuation are typically completed in under 5 hours.
• Pension Benefit Calculator: Calculate participants’ pension benefits and produce election forms, estimates, and benefit statements all in a single system.
• Paperless Document Storage: Archive participant and plan related documents digitally in the DB Precision database for convenient retrieval and backup. Sponsors and participants can even view documents over the web.
• Easy-To-Use Interface: Complete the initial set-up and import for a plan in under 25 hours regardless of prior programming experience. See plan screens for yourself by clicking here.
• Flexible: Whether your plan has employee contributions, cash balance accounts, Social Security PIA offsets, or level income options, there is no plan provision that DB Precision cannot handle.
