PensionSoft Pricing
DB Precision
DB Precision is sold to actuarial firms, third party administrators, and directly to human resources departments of pension plan sponsors. An actuarial or administration firm may lease either the administrator version or human resources version of DB Precision depending upon need.
Some firms may want to use benefit
calculation software for only one client or may want to
sell such software to a client. In such situations, the
human resources version of DB Precision may be more economical.
Pricing for Actuarial Firms and Third Party Administrators
There is no charge for the first three months of use. After three months, our customers begin making payments.
Annual lease payments for actuarial firms and third party administrators after the first three months are determined based upon the sum of the following:
Lease Payment Components
• Basic Charge: $10,000 (includes license for 2 concurrent system users and up to 25,000 employees/participants on the database).
• Charge for additional concurrent users: $2,500 per additional concurrent user.
• Charge for each additional 5,000 employees/participants allowed on the database: $1,000
Lease Examples
A small firm that currently does not need more than 2 concurrent users on the system at once or more than 25,000 employees/participants on the database would pay $10,000 per year.
A larger firm that wanted 4 concurrent users and 50,000 employees/participants on the database would pay $20,000 per year = $10,000 + (2 Additional Users * $2,500) + (5 Additional Blocks of 5,000 participants * $1,000).
Small Business Package
We also offer a special small business lease which allows for 1 concurrent user and up to 15,000 employees/participants on the database. The charge for this package is $4,000 per year.
Changes in Usage and Fees
At any time, the customer can change the number of allowable concurrent users as well as the maximum number of employees/participants. Charges during such periods are prorated accordingly.
* Lease rates are subject to change. However, once a firm signs on as a PensionSoft customer, no increases will be applied to that customer's rates for 3 years from the date of signing.
Pension Plan Sponsors Pricing (Human Resources Departments)
A human resources version of DB Precision is also available. This version is designed for the human resources department that wants to do its own benefit calculations or have PensionSoft do the calculation at low per-calculation rates (see below).
Human Resources Pricing Options
• Lease: For most pension plans, the annual lease
payment of such software is $7,500. However, for more complex
plan designs the payment may be higher. Actual pricing can be determined by contacting PensionSoft at (860) 680-1375. We will analyze your plan and usage requirements to determine the annual fee.
Plan sponsor versions of DB Precision are designed for a single concurrent system user and one plan sponsor. Additional users and plans will increase the fee. The plan setup and initial data load is completed by PensionSoft prior to installation. Imports are set up in the system to allow for ongoing maintenance of system data.
If you are interested in learning more, contact us at (860) 680-1375 or email us at sales@pensionsoft.com
