DB Precision
Comprehensive pension administration system
Automate pension calculations, workflows, document production, data management, and actuarial valuation preparation.
Plans will be up and running quickly with streamlined setup
- Software installation comes with a step-by-step guide and personalized support.
- Screens are clean, straightforward, and intuitive, with setup wizards and easy-to-use buttons.
- Access to our Secure Pension Portal is enabled by simply checking a box.
- Most plans are fully automated by customers in less than 30 hours.
- Our team is always available to help with setup or convert plans for you.
Powerful enough to convert and administer any pension plan
- No plan has ever been too complicated to load, administer, or manage with ease.
- Flexible enough to handle every pension design, from traditional defined benefit plans to more complex cash balance and multi-employer plans.
- DB Precision has already automated over 1,200 plans and growing, including union, government, and corporate plans.
Improve productivity and profitability with automated processes
- Complete benefit calculations for all calculation types with the push of a button.
- Instantly apply built-in regulatory rules, including 415(b) and 401(a)(17).
- Participant benefit statements for individuals or groups can be run and stored in seconds.
- Customize and track payment-processing tasks with our proprietary Worktrack system.
- Use our new Valuation Liability Extension to determine pension liabilities inside DB Precision or export data to valuation products such as ProVal and DBVAL. DB Precision also provides an integrated pension administration alternative for teams evaluating ProAdmin.
Create and deliver pension documents
- Use plan-level exports to produce statements and plan freeze or termination documents.
- Export results to Microsoft Word for easy customization and editing.
- Use existing plan payment-election forms or choose from pre-built templates, then allow participants to complete and electronically sign benefit elections online.
- Eliminate mailing costs by publishing documents to the portal for participants to retrieve and return online.
Manage pension data at any scale
- Maintain all data in one source to ensure consistency across every process.
- Store amounts such as hours and salary at any frequency based on plan requirements.
- SQL Server is directly integrated into our design allowing millions of records without decreased performance.
- The system records every data change for a full audit trail, with built-in validations to promote accuracy.
- Users can create custom data-import layouts in minutes.
Go paperless with secure digital archiving
- Digitally store any document type, including PDF files, Word documents, and Excel workbooks.
- Retrieve archives in seconds and perform maintainence of documents such as benefit-election forms and QDROs directly within DB Precision.
- Instantly and securely send archived documents to participants online using the Pension Portal