The right retirement technology is smartly designed to adapt to your plan rules, your members’ needs and the ever-changing regulatory environment. Engineered with more than 40 years of Taft-Hartley experience, PensionBenefitsXG from basys can easily and securely help you manage even complex plans with ease – whether you administer Defined Benefit, Defined Contribution or hybrid plans.
So much goes into your members’ pension decisions, and basys is making it easier for you to help members with these tough choices and complicated processes. PensionBenefitsXG simplifies the most complex plans, helps streamline and automate routine processes and integrates with the basys MemberXG self-service portal so your members have secure 24/7 access to their own detailed data and can even model different pension scenarios to help shape their retirement planning. Basys retirement technology can simplify your 401(k), 401(a), 403(b) plan management as well as track and process Vacation, Savings, Supplemental Unemployment, Legal Assistance and other benefits plans. Data exports seamlessly to interface with major retirement plans like Fidelity, Prudential and Mass Mutual, so coordinating with key vendors and providing members a full picture of their retirement options is easier than ever.
The parameter-driven basys calculation engine delivers a straightforward representation of your plan rules to ensure accurate calculations of benefit amounts, determine retirement options, disburse retiree benefits and facilitate actuarial reporting. The Fund Office can run retirement scenarios for members to help with their planning and decision-making, or members can model pension choices themselves via the member portal.
PensionBenefitsXG helps you streamline retirement plan management so you can better benefit your members.
Benefits of PensionXG
- User-friendly interface
- Flexible, efficient ad hoc pension statements
- Alerts notify operator of QDRO, IRS levy or other special circumstances
- Link and view related documents like pension applications and supporting documentation
- Pensioner display combines disbursement history and register lookup
- Data view matches member’s stub for simplified member service
- Member Account Balances display is configurable to easily administer Defined Contribution pension, 401(k), HSA and vacation balances
- Beneficiary Allocations display lets users designate beneficiaries and allocations by tier level and fund
- Member Withholdings display shows users the default set-up for each withholding type
- Project a member’s future pension benefit based on projected retirement date, age and pension type