RETIREMENT DISTRIBUTION MANAGER

Computrol’s Retirement Distribution Manager (RDM) creates pension plan distributions to meet government regulatory requirements according to customer preferences.  Retirement Distribution Manager combines investments from multiple systems with third party assets to allocate distributions.  The system handles IRA, ROTH IRA, SEPP, Keogh, 401k and 403b pension plans.

Retirement Distribution Manager features include:

Calculates required minimum distribution

Defines retirement distribution processing

Customer service features

Combines accounts and investments into customer retirement plan relationships

System flexibility

For a graphical view of the Retirement Distribution Manager processing, see Retirement Distribution Manager Processing Chart.

Each year Computrol reviews all reporting regulations and formats. Then we provide any changes or updates necessary to do the current year reporting, making the system cost effective for the user. Retirement Distribution Manager stays up to date for regulations with no end of year hassle as laws change.

Required Minimum Distribution (RMD)

Required minimum distribution is based on the customer elected distribution plan, including life expectancy choices and choice of beneficiary. The RMD for the plan year is calculated when the year-end market value of all the investments is available. You may also request recalculation if you make plan changes that affect the required minimum distribution.

Estimated RMD calculations display online to provide customers with options for selecting the distribution plan which best suits them.

Distribution Processing

Distribution Schedule

The customer can specify distribution options such as when to start, how often to distribute, how to pay and how to select investments to fund the distribution. The investment selection methods include:

	First In First Out
	Last In First Out
	Selected sequence
	Percentage from selected investments
	Risk order

The plan holder can restrict funding to specific investments or allow Retirement Distribution Manager to select from all assets.  Retirement Distribution Manager allows customers to elect a specific distribution amount in lieu of the RMD.

Distribution frequencies include:

	Monthly
	Quarterly
	Semiannually
	Annually
	Periodically

Distributions may be scheduled for any business date.  Retirement Distribution Manager uses calendars for the institution and the system of record to create redemptions for proper dates in the system of record.

Distribution Process

Each time Retirement Distribution Manager creates a scheduled distribution, it calculates the amount based on the remaining number of payments in the year and the remaining amount to distribute.  Retirement Distribution Manager creates redemption transactions to fund the distribution and passes them to the individual systems of record for processing. Redemption transactions can be paid by ACH or Fund/SERV file format.

Retirement Distribution Manager has an option to calculate pension plan withholding. The types of withholding include:

	Elected withholding for IRA plans
	Mandatory withholding for qualified plan distributions exceeding required minimum distribution (RMD)
	Wage-base withholding for qualified plans
	Non-resident withholding for customers who receive monies while not a legal resident of the US

A plan holder may specify a withholding percentage or an additional withholding amount to apply to his distribution.

Lump Sum Distributions

Distributions made in the system of record can be recorded in Retirement Distribution Manager. You can enter lump sum distributions online or interface them from the system of record. Parameters control whether the lump sum redemption affects remaining scheduled distributions.

Distribution Reversals

To reverse a distribution made in error, first select the distribution in error from the distribution history screen. Then, simply press the reversal function key. Retirement Distribution Manager records the reversal in the distribution history and recalculates the plan accumulators. Both lump sum and system generated distributions may be reversed in this manner

Reporting

Retirement Distribution Manager provides standard reports to record and control file maintenance as well as the distribution reporting. Standard reports include:

	Distributions Created Today
	Non-posted Distribution Report
	Outstanding Distributions
	Processing Error Report
	Plans in Distribution Report
	New Plans Today Report
	Future Distribution Report
	Insufficient Funds Report
	Audit Control Report

Retirement Distribution Manager includes an optional parameter defined reporting system for ad hoc reporting and customer correspondence. You can quickly and easily create reports for one-time use or catalog them to print on a regularly scheduled basis. Customer service letters, marketing letters and mailing labels can be customized with unique text and data extracted from the application files.

Customer Service Features

Retirement Distribution Manager provides online inquiry and maintenance for plans, distribution options, distribution schedules, investments, beneficiaries and alternate payees.  You can search for a customer by name or tax identification number, allowing you to locate customer information more quickly. As you enter or modify data online, Retirement Distribution Manager automatically updates the search information.

You can respond to customer inquiries, change customer mailing information  or distribution instructions during the conversation.  Customer service can easily and quickly obtain plan values, distribution history, messages and beneficiary information from online displays.

Retirement Distribution Manager Information

Plan Record
The plan record is a summary of the customer relationship with the institution.   Customer plan level information includes demographic information, summary data, distribution options, alternate address records, beneficiary records and plan level messages. Representative data in the plan record includes:

	Demographic data
	Financial data
	Distribution data
	Payment disbursement controls
	Customer elected amount

Investment Record
The investment record contains information on the individual investment from the shareholder system of record. You may enter investment information online in Retirement Distribution Manager when appropriate.

Distribution History
Retirement Distribution Manager maintains transaction history for all distributions it generates or records. History records information such as:

	Operator responsible for the transaction
	Withdrawal reason
	Transaction amounts
	Withholding
	Disbursement information

Plan Alternate Record
The plan alternate record contains alternate address and beneficiary records. Alternate address records record payee and mailing information when a check or other client communication is directed somewhere other than the registration name and address. Beneficiary records contain named beneficiaries of the plan with their address, SSN, relationship to the plan owner and percentage of interest in the plan.

Message Record
The message file contains any notes, ticklers, memos, tracking and reminder information you wish to add.  The data stored in this file is defined by the user. One example of the use of this file might be to record a pending plan transfer.

Plan Combines Accounts

The plan record is a summary of the customer relationship with the institution. Flexible criteria allow you to combine multiple similar accounts into a single plan.  

Each client can own multiple investments within the plan. The investments can be institution products such as mutual funds, CD's and GIC's or they can be investments managed by third party firms such as stocks and bonds.

System Flexibility

Retirement Distribution Manager handles multiple institutions with the flexibility to tailor the system to each institution's needs. The processing, calculations and distribution processing functions are parameter controlled. This means you change the way the system performs by changing the parameter values. The parameters define controls for business day processing, effective date processing, distribution calculations, etc.

Online Access

Retirement Distribution Manager can easily be Web-enabled or connected to customer networks, PC’s, call centers or other data delivery systems using Computrol's eBASE® tools.

Online screens are structured to allow quick and efficient data retrieval for research or customer service. You may have search facilities to allow you to look up information using the customer short name or tax ID.

Retirement Distribution Manager includes online security options which control what functions a user can access and what navigation they are allowed from a screen.

The online system includes a full help facility where help is available for the screen panel, individual fields, explanation of error messages, explanation of function keys and prompts or picking lists. Picking lists pop up a list of possible values for the field and allow you to mark the value to insert into the field.

Retirement Distribution Manager has an add-on option to use Computrol's online screen building and maintenance system to tailor screens to your specific needs. All information in the Retirement Distribution Manager database is available for display online.

Interfaces

Interfaces include passing information to other systems and accepting input to Retirement Distribution Manager from a client system of record. Retirement Distribution Manager provides standard formats for plan, investment and monetary history information.  Once the record is populated in the correct format, Retirement Distribution Manager will process the information.

Computrol can develop optional customized interfaces with the systems of record, using the Application Interface Manager system or a COBOL program.

Tax Reporting

Retirement Distribution Manager maintains the information for 1099R tax reporting. This information may be interfaced to the company’s tax reporting system or to Computrol’s Consolidated Tax Reporting  (CTR) system.

More Information

For additional information regarding Computrol’s Retirement Distribution Manager System, contact Computrol.

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