E/W Group

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Description

With the nation ’s baby boomers nearing their retirement years, the retirement savings industry is experiencing rapid growth. Equity-based products are the mainstays of retirement plans, since equities have provided solid long-term growth for decades. However, processing equities includes numerous challenges that only a high-performance, multi-level system can handle. To effectively administer your clients ’ equity-based products, you need a system that facilitates each step of processing. You want an enterprise-wide system that: PERKS Is a Robust Equity-Products Administration Engine E/W Group and efSolutions have partnered to offer a powerful engine to administer all of your equity-based products on one system. This comprehensive application administers both the wealth accumulation and payout phases, so you don ’t have to transfer policies to another system when your clients desire distributions. Employing the latest technology, PERKS, the Participant Equity-based Record Keeping System, consolidates policy and account administration on a single application. It enables straight through processing (STP) from the moment you enter the application through to reporting and accounting. PERKS, which was developed in conjunction with our clients who live in the marketplace, is a flexible, multi-tiered, client-server application. It is scalable and data source independent, facilitating easy information retrieval from the relational database using a Windows-based PC, a Web browser, or electronic data interface (EDI). The user-friendly application is programmed using object-oriented technology, making it trouble-free to operate and maintain. Even your staff without programming experience can modify products or add new ones easily. The system ’s Web-enabled delivery offers a common interface for your home office personnel, distribution forces, and clients. Depending on what you authorize, all system data can be available to all interested individuals, including clients. The Internet-based technology enables your users or customers to access real-time database information from any location. Clients can customize information and preferences and take advantage of market data links. Your retirement business is highly regulated. The PERKS rules-based system incorporates many state and federal regulations, so your staff need not know every jurisdiction ’s rules to process new business from any state you do business in. PERKS Supports All Your Processing Essentials Plan Management: New policies and contracts as well as terminations are processed at this level. PERKS is flexible enough to handle an unlimited number of funds sources, and both tax-qualified and nonqualified plans. Record keeping includes plan identification, plan processing rules, and a plan calendar specifying valid processing days. Participant Administration: The system ’s capabilities include both individual and group processing for true or associated groups. Processing for the participant, policy or account, source of funds, and asset holding are supported. You can also establish schedules to automate processing of non-financial events particular to each account.

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