Retirement Reporting Module

The Retirement Reporting Module consolidates retirement account information from the Savings Accounting and Certificate of Deposit applications within the Premier bank platform from Fiserv. It provides online inquiry and comprehensive reporting capabilities. This module projects required minimum distributions and generates customer statements, as well as audit, exception and distribution eligibility reports. It also schedules account reviews and generates customer notices of upcoming reviews.

Features

Consolidation of savings and CD retirement accounts
Online inquiry into customer, plan, tax, distribution, beneficiary and account information
Required minimum distribution calculator
Customer notification
Customer statements
Comprehensive reporting
Plan-level parameters

Inquiry, Reporting
The Retirement Reporting Module update consolidates retirement account information from the Savings Accounting and Certificate of Deposit applications, providing online inquiry and comprehensive reporting capabilities for the following:

Individual customer’s retirement plans, such as individual, spousal and SEP, combined by tax ID number. For example, customer inquiries are used to review all the retirement accounts belonging to a tax ID number.
Retirement account plans are used to automatically combine multiple accounts of the same type, such as individual, spousal and SEP. For example, plan inquiries are used to review all retirement accounts classified as individual IRA accounts.
Individual savings accounts and certificates of deposit
Tax reporting information
Beneficiaries

Required Minimum Distributions
Required minimum distributions can be projected using the online minimum distribution calculator to help customers in distribution status determine how much they are required to withdraw annually from retirement accounts. The calculator uses life expectancy or amortization methods, and the following factors:

Single life expectancy
Joint life expectancy
Minimum Distribution Incidental Benefit (MDIB)

For more on Retirement Reporting Module, contact Fiserv, Inc.
at 402-421-4207 or partner@fiserv.com.

Business Continuity Computer Services Billing Customer Activity Management Data Import & Aggregation Delinquent Child Support Billing Delinquent Loan Collection Deposit & Loan Accounting Deposit Reclassification Exception Item Processing General Ledger Accounting Investing Accounting Loan Servicing Repurchase Agreement Retirement Reporting Safe Deposit Box Accounting System Audit & Monitoring Transaction Management