Retirement
Processing

Retirement Plan Processing Software

Your retirement processing system is only as good as its ability to quickly and accurately calculate pensions. BICC Systems utilizes rules management for investments, allowing fund offices full control over pension calculations. And with actuaries on staff to inform development, we ensure even the most complex multi-plan funds are calculating correctly.

• Specialized pensions expertise
  
We are programmers and actuaries and fund offices; we know what it takes to administer retirement funds.

• Data exchanges
  
Easily integrate with investment firms for passing standard or customized data.

• “What if” changes
  
Allows for on-the-fly adjustments to help in forecasting.

• Report templates
  
Simple, visual report templates for data submissions to actuary firms.

Choose the Retirement Processing Modules You Need

Pensions
Module

Take full control of single and multi plan pension funds with BICC’s Defined Benefit Pension Processing System for the collection, calculation and distribution of retirement benefits.

PENSIONS MODULE FEATURES

• Offers functional capabilities to manage and control collection, calculation and distribution of retirement benefits.
• Online adjudication system displays the options and benefits available to employees eligible for retirement.
• Allows “what if” changes to be made in accrued credits, contributions, wages or retirement dates to help in forecasting a member’s future benefits.
• Maintains lifetime history of contributions.
• Accumulates vesting credit.
• Prepares statements.
• Issues benefit checks.
• Provides a complete historical database.

Annuities Module

BICC’s Defined Contribution Processing System makes the administration of an annuity fund almost transparent to the fund staff. Managers and members alike access the information they need, when and how they need it.

ANNUITIES MODULE FEATURES

• Provides members with up-to-date information about their retirement account.
• Deposits contributions immediately as employer reports are posted (when used with the Remittance & Contributions Module).
• Allocates earnings, forfeitures and administrative expenses to the individual account.
• Produces annual account valuations.
• Offers multiple benefit payment options.
• Standardized government tax reporting.
• Computes repayment schedules, tracks repayment and identifies loans in default for plans that allow loans.

Also Available:

Eligibility Module | Remittance & Contributions Module | Client Services Module | Claims Module